Mexico FinTech News
Revolut is reported to have obtained authorization to operate as a bank in Mexico
Revolut, a leading neobank, is said by local newspapers to have obtained authorization to be a ban in Mexico, signaling its entry into the Mexican market, although there is no official confirmation from the CNBV. This approval would allow Revolut to offer its banking services to Mexican consumers and businesses, expanding its presence in Latin America’s FinTech landscape. The move reflects Revolut’s strategic expansion plans and its recognition of the opportunities presented by Mexico’s growing demand for digital banking solutions.
Latam FinTech Hub, 04/02/2024, Staff: Neobanco Revolut obtuvo autorización para operar como filial en México
Pulpos, a FinTech focused on empowering Mexican SMEs to take them to the cloud, raised US$4M to enhance its platform with AI
Pulpos, a financial technology company focused on supporting Mexican small and medium-sized enterprises (SMEs) in their transition to the cloud, has successfully raised $4 million. This funding will enable Pulpos to further enhance its platform through the integration of artificial intelligence (AI) technology. The company has been recognized for its commitment to the development and digitalization of SMEs in Mexico, offering them innovative solutions that streamline their business management and allow them to fully leverage the benefits of cloud technology.
Latam FinTech Hub, 04/01/2024, Staff: Pulpos, una FinTech enfocada en impulsar a pymes mexicanas para llevarlas a la nube, levantó US$4M para mejorar su plataforma con IA
Mexico’s Congress bans retailers from charging consumers commissions for using cards
In a move that should help digitalize payments, the Mexican Chamber of Deputies unanimously approved modifications to the Federal Consumer Protection Law to ban additional fees for payments made with debit or credit cards or physical payment methods. This decision addresses complaints about charges ranging from 3 to 5% on transactions. The Condusef highlighted that such fees violate existing contracts between merchants and banks. The initiative, which aims to protect consumers from these charges, could result in fines for non-compliance ranging from 701.15 to over 2 million pesos, addressing a legal loophole and preventing economic abuse against consumers.
Other news
Latam FinTech Hub, 04/05/2024, Renato Olmos: FinTech chilena de gestión de tesorería Radar, cierra ronda de inversión de US$1.5M para ampliar presencia en México
El Economista, 04/03/2024, Sebastián Estrada: Estrategia de tasas altas ha incentivado el ahorro: Stori
LatAm FinTech News
Colombian FinTech Addi announced the launch of its Marketplace
Colombian FinTech company Addi has announced the launch of its Marketplace feature, enabling users to directly make purchases within the application.
Latam FinTech Hub, 04/01/2024, Staff: FinTech colombiana Addi anunció el lanzamiento de su Marketplace para que los usuarios realicen compras directamente en la aplicación
Koin raises $7.3M to expand offerings to tourism services
Koin, a Latin American FinTech startup, has secured $7.3 million in funding to broaden its range of services to include offerings tailored to the tourism sector. This investment will enable Koin to enhance its platform and provide specialized solutions to meet the needs of travelers, facilitating their payment processes and enhancing their overall experience within the tourism industry.
Latam List, 04/03/2024, Matheus Tomé: Koin raises $7.3M to expand offerings to tourism services
Other news
Latam List, 04/05/2024, Sara Delgado: Ada raises pre-Series A from Wayra Brasil
Tekios, 04/05/2024, Staff: FinTech chileno-uruguaya Foccuz levanta US$ 700 mil para expandirse en Chile y otros mercados
Global FinTech News
Nuvei snapped up by Advent International in $6.3bn deal
In a significant move within the FinTech sector, Nuvei, a leading provider of global payment solutions, has been acquired by Advent International in a deal valued at a substantial $6.3 billion. With Advent International’s backing, Nuvei is poised to further expand its offerings and enhance its market presence. The deal price of $34/s was a 56% premium to the price in early March.
FinTech Futures, 04/02/2024, Tyler Pathe: Nuvei snapped up by Advent International in $6.3bn deal
iCapital set to acquire investment data firm Mirador
iCapital Network, a leading financial technology platform, has announced its acquisition of Mirador Advisors, an investment data firm, in a strategic move to bolster its data analytics capabilities.
FinTech Futures, 04/03/2024, Tyler Pathe: iCapital set to acquire investment data firm Mirador
Other news
FinTech Futures, 04/03/2024, Tyler Pathe: First Abu Dhabi Bank partners Microsoft to develop new AI-powered banking capabilities
FinTech Futures, 04/04/2024, Cameron Emanuel-Burns: Canada’s Brim Financial lands $85m in Series C funding round
Scayl Raises $108 Million for to Lend to FinTech Lenders (pymnts.com)
Wise Platform Swan Launch Blog – Wise