Fluid Fintech Futures: Liquido Flows into Mexican Messaging & Buenos Aires Blocks in
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Welcome to our weekly newsletter covering the latest news and trends in the Latin American Fintech startup scene.
Liquido seeks to implement a WhatsApp payment system in Mexico
Liquido, the fintech firm based in Mountain View, California, is determined to strengthen its presence in Mexico, a market it considers strategic and where it will seek to implement different tools that simplify user processes, such as a payment system through WhatsApp.
Liquido’s bet is clear: simplify and enhance the online payment process for regional companies and entrepreneurs. To achieve this, they have developed an application already available on major e-commerce platforms, such as Shopify, VTEX, and Magento. Additionally, they have created an API that facilitates the integration of their solution with other applications and custom developments, as well as the ability to generate payment links for entrepreneurs taking their first steps in the digital world.
Lack of knowledge and information are key factors contributing to poor economic habits and hindering the achievement of long-term goals like a dignified retirement or property acquisition. According to Mercer data, 67% of Mexican millennials have debts equivalent to 44% of their annual income.
During its beta phase, Liquido processed more than USD $350 million in payments in Aztec territory and has big plans for the near future, as the company aspires to surpass the figure of USD $5 billion in processed payments by the year 2024.
Vía Contxto
Quick News
Lemon Integrates OnRamper to Allow 5 Latam countries to Buy Crypto in their National Currencies
Lemon, the cryptocurrency platform with a user base exceeding 2 million in Latin America, has established a partnership with OnRamper, a platform acting as an aggregator of conversion services between fiat currencies and cryptocurrencies.
This collaboration allows users from 5 Latin American countries to purchase cryptocurrencies using their local currency, specifically Mexico, Colombia, Peru, Uruguay, and Ecuador.
The main advantage lies in the flexibility of payment options offered, as users can choose to use debit cards, credit cards, or bank deposits, depending on the conversion platform they choose.
The latter implies users can make investments and participate in the Web3 environment using familiar payment methods, such as credit cards and bank transfers. (Contxto)
Nubank exceeds IFC’s expectations and receives USD$265 million
Nubank announced a significant increase in the A/B type loan granted by the International Finance Corporation (IFC).
Initially committed in January 2023 for a total of USD$150 million, the total amount has recently been raised to USD$265.1 million.
The IFC‘s operation will be carried out through an increase in the subscription of the syndicated loan B, involving commercial banks.
The additional funds of over USD $100 million have exceeded all expectations due to the amount disbursed and constitute an unprecedented operation. (Contxto)
Fintech Mundi raises USD$15 million investment round
The Mexican fintech company Mundi announced a new Series A-2 financing round totaling USD $15 million, with Haymaker Ventures being the principal investor.
Union Square Ventures, who led the Series A in December 2021, has also significantly contributed to this round, along with GMO Ventures, Upper90, Colibri Ventures, Base10, Asymmetric Capital Partners, Gaingels, Mana Ventures, and GSBackers.
The purpose of this Series A-2 investment is to enhance the user experience for exporters, importers, and the associated logistics companies, who will now have the ability to provide integrated financial services. (Contxto)
CAF to allocate USD $5 million to finance innovative startups
The Development Bank of Latin America and the Caribbean (CAF) approved an investment of USD $5 million in Fund III of NXTP Ventures as part of its commitment to promote the development of innovative startups in the region.
This investment will be channeled through the Investment and Business Development Fund (FIDE) to support Small and Medium Enterprises (SMEs).
NXTP Ventures is a prominent private equity fund in Latin America specializing in innovative and scalable technological startups led by disruptive entrepreneurs.
This initiative aims to support B2B segment startups in Latin America, especially in critical areas such as cloud computing, Software as a Service (SaaS), technology applied to logistics, fintech, B2B Marketplace, artificial intelligence, and information technologies. (Contxto)
Buenos Aires to use Blockchain technology for digital identification
The city of Buenos Aires is taking significant steps towards the modernization of its bureaucracy by incorporating blockchain technology.
The first documents to be available on this blockchain platform include birth certificates, marriage certificates, as well as income statements, and academic credentials.
It was detailed that there are plans to integrate health data and payment management in the future. Additionally, a roadmap will be established to implement this blockchain-based solution nationwide by the end of 2023. (Contxto)
Fintech Clara arrives in MTY with international payment solutions
The fintech Clara established a headquarters in Monterrey with the purpose of offering technology-based financial solutions tailored to the needs of companies that are coming to Nuevo León thanks to nearshoring.
Clara has acquired 250 corporate clients in Nuevo León.
Since its beginnings as a startup, Clara identified the need to simplify and streamline payments in businesses, combining financial transparency and technology. (Contxto)
More than 60 Chilean Fintech companies will make commercial tours around Latin America
With the support of FinteChile, more than 60 companies will undertake a trade mission to the main fintech markets in the region.
Uruguay, Mexico, Colombia, Brazil, and Paraguay will be the destinations for more than 60 Chilean Fintech between September and October of this year.
Las citas de negocios, que se realizarán con el respaldo de FinteChile, buscarán entregar a las empresas y startups todas las herramientas para que puedan expandir sus emprendimientos a nivel latinoamericano y conocer de primera mano dichos mercados. (América Economía)
Banco W and Belvo announce their new alliance for financial inclusion
This new strategic alliance, announced during the LATAM Fintech Market, seeks to offer better financial services and provide opportunities to those reported in credit bureaus.
The work being done with Banco W opens the possibility that the information of digital wallet users can be their letter of introduction to access credit.
Banco W hace parte de las primeras instituciones vigiladas del país, incluidas en el decreto 1297 del artículo 89 del Plan Nacional de Desarrollo, para utilizar los datos abiertos en pro del beneficio de sus usuarios. (Semana)
Prestamype closes US$ 5 million investment round
Prestamype, the leading digital financial services platform for micro and small enterprises (MSEs), has announced closing an impressive US$5 million investment round.
This milestone marks a record in the sector, as it is the largest investment ever raised by a Peruvian fintech in a Pre-Series A round, and it is also the largest equity round of the year for this sector.
Two prominent international Venture Capital funds led the investment round focusing on social impact: Acumen Latam Impact Ventures (ALIVE) and Oikocredit. (RPP)
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.
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Food for Thought
Ualá's CEO spoke about Fintech in Latin America with Bloomberg in Spanish
Fintech Ualá is expanding further into the Latin American market, promising to expand financial inclusion in the region through access to a comprehensive financial services ecosystem. Founder and CEO Pierpaolo Barbieri discusses this topic with Caroline Hyde and Ed Ludlow on "Bloomberg Technology.”
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