Fintech Pulse: Syscap’s $2.3M Boost & Nubank’s New Moves in Mexico
Syscap secures USD$2.3M to revolutionize private credit in Mexico, Nubank expands its offerings, and the Fintech Summit Latam explores the digital future of finance. Don't miss the latest insights!
Welcome to our weekly newsletter covering the latest news and trends in the Latin American Fintech startup scene.
Syscap Closes USD $2.3 Million Round to Transform Private Credit in Mexico
Syscap, a fintech startup, has closed an initial funding round of USD $2.3 million to expand its private credit infrastructure in Mexico.
Founded by David Noel Ramírez and Alejandro O’Farrill, Syscap was designed as a platform to enable non-bank lenders to efficiently manage and access private credit lines, offering a centralized point for communication, monitoring, and reporting.
Before joining forces to launch Syscap, Ramírez and O’Farrill met while working at FEMSA, a multinational beverage and retail company. Subsequently, Ramírez co-founded Concéntrico, while O’Farrill worked at Amazon and Nubank. Syscap CEO Ramírez told TechCrunch that traditional credit line management is done through outdated banking software or manually, using spreadsheets and emails.
Vía Contxto
Quick News
The Technological Boom of Latin America: Fintech and Brazil Lead the Change
A new study by Distrito reveals the explosive growth of the startup ecosystem in Latin America, with Brazil and the FinTech sector taking center stage. Over 33,000 active startups and 45 “unicorns” signal the region’s high potential.
the number of startups has increased by a factor of 60 since the 2000s, reaching a total of 33,489 companies.
Brazil dominates the space with more than 13,000 active startups, accounting for 62.9% of the total.
Fintech has emerged as the most critical sector in the region, followed by Retailtech and Martech. (Contxto)
Fintech Summit Latam: Reimagining Financial Services for the Future
Over two intense days in Mexico City, experts and entrepreneurs gathered to discuss the impact and challenges of digitalization in the financial world, from regulation to financial inclusion.
The Fintech Summit Latam took place at the Centro Asturiano in Mexico City, serving as a stage to discuss the future of financial services.
Artificial Intelligence (AI) was a recurring theme, highlighting its role in driving efficiency and innovation in fintech and the risk it poses in terms of fraud and other digital crimes.
The first day of the event focused on topics like the future of fintech and digital banking in Mexico, the role of traditional banks in the digital ecosystem, and the benefits of Open Banking for both businesses and consumers. (Contxto)
Nubank to Launch Personal Loans in Mexico
Nubank, a leader in Latin America’s fintech sector, is introducing personal loans in Mexico. The new service, available in under five minutes, aims to strengthen its portfolio in the region’s second-largest economy.
This new product will allow customers to obtain personal loans in less than five minutes through the bank’s digital platform.
The announcement comes shortly after the successful launch of Nubank’s savings account service in Mexico in May, which attracted more than one million users in just one month. (Contxto)
Serasa Experian Expands its Portfolio with the Acquisition of FlexPag in Brazil
In a strategic move to diversify its operations and accelerate the democratization of credit access, Serasa Experian announced the acquisition of FlexPag, the fintech specialized in utility services.
While the financial details of the transaction have not been disclosed, the purchase will allow Serasa Experian to implement a new feature called “My Accounts” in its mobile application, which currently has 83 million users.
FlexPag is the ninth startup to receive capital from Serasa Experian.
Serasa Experian seeks to consolidate its position and support more consumers and companies on their financial journey, mainly when investors prioritize profitability over growth at all costs. (Contxto)
Colombian neobank Nequi launches customizable policy
Nequi, the digital subsidiary of Bancolombia, launched “Segurísimo”, a customizable policy where each insured individual may choose up to two insurances in their name.
Nequi currently has 16 million users who can purchase Segurísimo through the Nequi App.
The insurance lasts six months and is paid in a single semi-annual installment, covering the insured and a beneficiary of their choice without needing it to be a family member. (LatamList)
Fintech South Hub: Find out the details of the Summit on September 14 in Uruguay
Latin America is preparing to welcome the leading players in the fintech industry at the first Fintech South Hub meeting, scheduled for Thursday, September 14 at the Antel Arena in Uruguay, according to a press release.
The event, co-organized by the Uruguayan Fintech Chamber and the da Vinci Foundation, will bring together leaders and entrepreneurs shaping the financial solutions landscape in Latin America.
Those interested in attending can purchase tickets through AccesoFácil. In addition, the Main Stage talks will be streamed live on the da Vinci Foundation's YouTube channel. (Tekiosmag)
Alprestamo expands and will participate in important events in the region
As part of its strategy of territorial expansion and to publicize its solution to facilitate access to financial products, the fintech Alprestamo, announced its presence and participation in various meetings and fairs in Latin American markets.
The first of the events in which fintech will be present will be Fintech South HUB.
Later, in Mexico City, Pablo Blanco, CFO of the company, will be present at FinnoSummit on September 26th and 27th.
The fifth edition of Latam Fintech Market, Colombia's most influential digital financial technology event, will take place on the 28th and 29th. (iProUp)
Blockchain Summit Latam presented its agenda for 2023
As part of the seventh edition of Blockchain Summit Latam, the city of Bogota, Colombia, is preparing to receive more than 1,500 participants in what promises to be a great event related to Cryptocurrencies, Blockchain and Web 3 in the Latin American region.
The event will feature a main stage where panels and individual talks by keynote speakers will be held.
There will be two parallel scenarios, one focused on entrepreneurship and the web ecosystem3, with 15-minute presentations by Latin American investment funds and entrepreneurs, and another with one-hour practical workshops on using platforms, wallets, and other ecosystem tools. (Cryptocity.press)
Galileo launches 'More Cashless Cash' to promote Cashless ecosystem in LATAM
As part of the program, Galileo will develop content to position electronic media as the logical alternative to cash in various everyday situations.
This initiative aims to increase confidence in cashless transactions and broaden awareness of the benefits of security, traceability, and control for various industries beyond traditional fintech audiences and channels.
Galileo developed a user-friendly and relatable view of available cashless solutions. Segments to be examined include consumer household finance, remittances, B2B transactions, multilevel sales, microfinance, and tourism, to name a few. (almomento.mx)
Fintech Education
Blockchain: Fundamentals and applications for business optimization. You will understand the general functioning of blockchain technology and its differences: private, public, and hybrid.
Blockchain: Commercial Applications. Explore the fundamental rules and features of blockchain technology and its potential commercial applications for your business.
Investment Management: Investing With Data and Technology. Gain the knowledge and skills to make smarter, safer and more effective investment decisions.
Food for Thought
Open Data: Golden opportunity for Fintech
What is Open Data and how does it benefit Fintechs? Get an in-depth understanding of what Open Finance regulation in Mexico and Latin America is all about.
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