Mexico FinTech News
Flink Officially Rebrands as Webull México, Marking a New Chapter in Retail Investing
Flink, one of Mexico’s earliest and most well-known retail investing platforms, has officially rebranded as Webull México, completing its integration into the global operations of Webull Corporation, a leading U.S.-based investment platform. As of April 10, 2025, the Flink brand has been phased out, ushering in a new era for its more than 1.6 million users under the Webull umbrella. This transition comes after Webull’s recent public listing on Nasdaq, trading under the symbol BULL, following a merger with SK Growth Opportunities Corporation that valued the company at US$7.3bn.
Founded in 2017, Flink gained early recognition for democratizing access to U.S. stock markets through fractional, commission-free investing, particularly among first-time retail investors in Mexico. Over the years, the platform encountered regulatory challenges that it addressed by acquiring Vifaru Casa de Bolsa, allowing it to operate as a fully licensed brokerage under Mexican law.
Now operating as Webull México, the platform promises a more robust suite of investment tools, including paper trading, recurring investment options, access to U.S. Treasury bonds, and eventually, an expanded range of local and international securities tailored to the Latin American investor base. The integration reflects Webull’s commitment to providing high-tech, low-cost investment experiences while expanding its presence in emerging markets. This rebranding underscores Webull’s confidence in the Mexican market as a key growth driver for its global expansion strategy.
Fintech Expert, 04/11/25, Staff: “Flink Officially Rebrands as Webull México”
Nubank Sees Loan Growth Uptick in March; NPLs Continue to Climb for Klar and Stori
Preliminary loan portfolio data published by financial consumer watchdog Condusef showed Nu accelerating in March after muted performances since December of last year. Performing loans rose 5.0% relative to February, or 6.8% QoQ. Non-performing loans declined, but lacking write-off data, it’s difficult to comment. On the other hand, NPL trends at Klar and Stori remain highly concerning, growing by double-digits MoM and close to 50% since December; both saw their NPL ratios climb to close to 11%.
March loan data sees uptick for Nu, rather concerning NPLs for Klar and Stori
Source: Miranda Partners, Condusef. Figures in MXN mn.
Nu México Reintroduces 15% Annual Yields with Launch of “Cajita Turbo”
Nu México has brought back its highly competitive 15% annual yield with the launch of a new savings product called “Cajita Turbo”, available to eligible users starting April 2025. The feature is part of Nu’s “Cajitas” suite within its debit account ecosystem and offers immediate liquidity for deposits of up to 25,000 pesos, with higher balances still eligible for returns under other available options. To qualify, users must make at least one monthly transaction with any Nu-issued card. This reintroduction follows a similar yield announced in November 2023, representing a jump from the previous 9% rate. Iván Canales, General Manager of Nu México, stated the product aims to encourage financial planning and better savings habits, positioning Nu among the most competitive offerings in the local market.
We are somewhat puzzled by the move, given the company’s concerningly low Loan to Deposit Ratio (LDR), which stood just above 20% as of January. Then again, by fostering transactionality among relatively high-income users, this could be a first step in the launch of Nu’s premier Ultravioleta card in Mexico – giving away a few more percentage points for deposits might just be the price of admission to try to enter the highly competitive top of the Mexican credit card pyramid.
El Economista, 04/08/25, Sebastián Estrada: “Nu México reintroduces 15% annual yields”
Finsus Prepares Expansion to U.S. and Plans Wall Street Listing
Finsus, one of Mexico’s leading Sofipos, is planning to expand into the U.S. market, targeting the Hispanic community with a digital, low-cost platform for remittances and investment. The company aims to obtain a U.S. banking license by late 2025 to directly facilitate cross-border services. Chairman Norman Hagemeister and CEO Carlos Marmolejo confirmed plans to raise capital and explore an eventual IPO, with invitations already extended by the New York and London Stock Exchanges. Inspired by fintech giants like Nubank and Revolut, Finsus seeks to scale a model focused on savings and investment, already recognized by the UK government for its inclusive approach.
Expansión, 04/09/25, Gonzalo Soto & Luz Elena Marcos: “Finsus prepares U.S. expansion and plans Wall Street listing”
Rappi Expands Presence in Mexico with WhatsApp Channel and RappiTurbo Rollout
Rappi has expanded its footprint in Mexico through the launch of an exclusive WhatsApp channel aimed at distributing promotions, entertainment content, and cashback rewards directly to users. This new communication strategy leverages WhatsApp’s widespread use in Mexico and was promoted via a live stream with influencer Elded on Twitch to reach younger audiences.
Additionally, Rappi is accelerating the rollout of its express delivery service, RappiTurbo, in northern cities such as Saltillo and Hermosillo, offering rapid delivery of groceries, beverages, and prepared meals. These moves reflect Rappi’s focus on deepening customer engagement and reinforcing its leadership in the Mexican delivery market, a key territory in its Latin American growth strategy.
América Retail, 04/09/25, Staff: “Rappi Expands Presence in Mexico”
Ohana Wins Mexico Qualifier of the Fintech World Cup, Will Compete in Dubai
Ohana, a fintech focused on financial inclusion for migrants, won the Mexico Qualifier of the Fintech World Cup 2025, defeating 13 other startups. As the national winner, Ohana will represent Mexico at the Grand Finale in Dubai on May 13, 2025, during the Dubai FinTech Summit, competing for a share of the US$1mn investment prize.
Mundo Ejecutivo, 04/09/25, Staff: “Ohana Wins Mexico Qualifier of the Fintech World Cup”
Additional reading…
- “Alexandre Mehrdad, nuevo director de Retail en Bitso México”
- “Marlene Garayzar Appointed President of AMS”
LatAm FinTech News
Finaktiva Raises US$10mn from BBVA Spark to Expand SME Financing in Colombia and Peru
Colombian fintech Finaktiva secured US$10mn in funding from BBVA Spark to scale its credit and factoring products and provide more liquidity to small and medium-sized enterprises (SMEs). The capital will help Finaktiva address access-to-finance challenges in a tough macroeconomic environment while enhancing offerings like factoring, confirming, and digital lending. Founded in 2017, Finaktiva has evolved from a startup lender into a digital ecosystem supporting the cash flow of thousands of companies, with over US$2.4bn disbursed in 2024 and a 30% share in Colombia’s factoring market. The company also plans to launch operations in Peru in 2025 and is investing in AI-driven personalization to anticipate SME needs and become a 360° financial ally for businesses across Latin America.
Latam Fintech, 04/10/25, Staff: “Finaktiva Raises US$10mn from BBVA Spark to Expand SME Liquidity Solutions in Colombia”
Neon Authorized as Payment Initiation Provider via Pix in Brazil’s Open Finance System
Brazilian neobank Neon has received regulatory approval to operate as a payment initiation provider (ITP) under the country’s Open Finance framework using Pix, Brazil’s instant payment system. With this designation, Neon becomes the 52nd institution authorized to initiate payments directly, joining major players like PicPay, Mercado Pago, Inter, and Nubank. The ITP model allows fintechs to offer faster, seamless financial services such as e-commerce payments and transfers between digital wallets, without requiring users to manually handle Pix codes. Neon’s new capabilities aim to improve user experience and broaden its competitive offering in Brazil’s rapidly evolving digital finance landscape.
Latam Fintech, 04/07/25, Staff: “Neon Receives Authorization to Operate as a Payment Initiation Provider in Brazil’s Open Finance Ecosystem”
Nubank Launches New Digital Payroll Loan for Informal Workers in Brazil
Nubank has launched a new a fully digital payroll loan product aimed at underserved worker segments in Brazil, including domestic employees, rural workers, and self-employed MEI workers. The solution targets over 47 million CLT-registered workers and is part of Brazil’s new private payroll loan initiative. Users can simulate and begin the loan process via the government’s CTPS Digital platform, then complete it through the Nubank app. The fintech plans to soon offer a fully integrated experience within its app.
Latam Fintech, 04/11/25, Staff: “Nubank launches Crédito del Trabajador, a new payroll loan for domestic, rural, and self-employed workers in Brazil”
Additional Reading…
Global FinTech News
Affirm and Shopify Expand Shop Pay Installments to Canada in First Global Move
Affirm and Shopify have expanded their Shop Pay Installments service to Canada, marking their first international rollout of the BNPL solution beyond the U.S. Affirm remains the exclusive pay-over-time provider for Shopify in both countries. Canadian merchants can now offer biweekly and monthly payment options, with terms up to 24 months and interest rates as low as 0% APR. Following strong adoption in the U.S. since 2021, the move signals Shopify’s intent to scale globally, with plans to enter the U.K. and other markets soon.
FinTech Global, 04/10/25, Staff: “Affirm and Shopify Expand Shop Pay Installments to Canada in First Global Move”
Rain Raises US$75mn Series B to Expand Beyond Earned Wage Access
Rain, a Los Angeles-based startup offering employer-integrated earned wage access (EWA) and financial wellness services, raised US$75mn in an all-equity Series B round led by Prosus, reaching a US$340mn post-money valuation. The funding will support the launch of new products including an EWA-secured credit card, savings accounts, and tools for Health Savings Account (HSA) reimbursements. With over 2.5 million users and US$2bn in wages distributed, Rain partners with employers to offer automated EWA, financial coaching, and tax tools. It targets mid-sized and enterprise businesses with over 300 employees and charges a flat ATM-style fee or a free ACH option.
TechCrunch, 04/08/25, Jagmeet Singh: “Rain Raises US$75mn Series B in Another Good Sign for Fintech”
Additional Reading…
- “Trump’s Tariffs Send Consumer Startups into Full-On Panic”
- “Sipay Raises US$78mn Series B, Valuation Surpasses US$875mn”
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