Mexico FinTech News
Revolut with new bank license plans to invest over $100 million in Mexico
Revolut, a UK-based FinTech company which just announced its bank license in Mexico, plans to invest over $100 million in Mexico. The investment is intended to expand its presence in the Mexican market and strengthen its nascent operations. Revolut aims to enhance its product offerings, especially in remittances, and grow its customer base in Mexico, contributing to the country’s FinTech ecosystem. Our understanding is Revolut will target wealthier customers than Nu, and be less focused on credit. It may be another year before Revolut is fully operational in Mexico.
Contxto, 04/16/2024, Staff: Revolut plans to invest over $100 million in Mexico
Konfío Seeks Banking License to Boost SME Credit Services
Konfio, a Mexican FinTech company, is applying for a banking license to expand its SME credit services. Obtaining this license would allow Konfio to broaden its range of financial products and enhance its ability to meet the financing needs of small and medium-sized enterprises in Mexico.
Conxto, 04/17/2024, Staff: Konfío Seeks Banking License to Boost SME Credit Services
Addem Capital expands Mattilda’s credit line to $24 million USD
Mattilda, a startup that blends elements of FinTech, edtech, and SaaS, has secured an extension of its credit line from Addem Capital, totaling an additional $14 million on top of the $10 million obtained in 2023. This credit expansion reflects Mattilda’s robust growth and significant impact on educational institutions across Latin America.
FinTech Expert, 04/18/2024, Staff: Addem Capital Amplia Línea de Crédito de Mattilda a $24 MDD
Nubank invests in Mexico to make up for steep losses
Nubank has announced an investment of another $100 million into its operations in Mexico, which is a strategic focus for the company this year. This funding aims to expand its product offerings in the Mexican market, including high-yield savings accounts introduced last year. As the company is losing lots of money in Mexico, the investment will make up for capital reductions.
FinTech Expert, 04/16/2024, Staff: Nu México: Nuevas Funciones Para Mejorar Experiencias de Ahorro y Crédito
Other news
FinTech Expert, 04/17/2024, Staff: Bankaool Innovará con Solución BNPL de Sileon
LatAm FinTech News
Toku, a recurring payments platform based in Chile, announced raising $9.3 million
Toku, a comprehensive recurring payments platform based in Chile, announced raising $9.3 million in a new funding round led by Gradient Ventures, bringing its total funding to nearly $20 million. The platform, which enhances payment processing and collections while reducing costs by 30%, plans to use the funds to expand in Mexico, Brazil, and Chile. Toku automates the payment lifecycle, improving revenue collection by 5% and refining strategies through real-time data. Since 2020, Toku has seen a quarterly revenue growth of 70%.
Toku secures $9.3 million in latest funding round led by Gradient (prnewswire.com)
Colombian Paytech Dale wants to reach 4 million customers and will allow children over 12 years old to access its services.
Colombian FinTech company Dale aims to expand its customer base to 4 million, emphasizing financial inclusion. It plans to allow children aged 12 and above access to its services, promoting early financial literacy. By leveraging technology and customer-centric strategies, Dale has become a leader in Colombia’s FinTech sector. This move highlights Dale’s commitment to innovation and inclusivity, setting a new standard for financial empowerment.
Latam FinTech Hub, 04/16/2024, José Caparroso: Colombian Paytech Dale wants to reach 4 million customers and will allow children over 12 years old to access its services.
FinTech Credicuotas launches its card powered by Pomelo to provide credit in Argentina
The FinTech company Credicuotas has introduced a new card in Argentina, powered by Pomelo, aimed at making credit more accessible. This collaboration seeks to provide innovative credit solutions to consumers in Argentina, enhancing financial inclusion and flexibility.
Latam FinTech Hub, 04/16/2024, Staff: FinTech Credicuotas lanza su tarjeta powered by Pomelo para disponibilizar créditos en Argentina
Other news
Latam FinTech Hub, 04/11/2024, Staff: Neobanco Integrity Corporación Financiera fue autorizado por Superfinanciera para operar en Colombia
Latam FinTech Hub, 04/09/2024, Cameron Emanuel-Burns: Paytech colombiana OnePay logró recaudar US$1.3 millones para seguir fortaleciendo su plataforma de integración de pagos en Whatsapp
Global FinTech News
Ramp secures $150m in Series D-2 funding round at $7.65bn valuation
Ramp, a New York-based FinTech company founded in 2019, recently completed a funding round led by Founders Fund and Khosla Ventures, along with support from Greylock, Sequoia Capital, 8VC, and existing investors. This investment, which builds upon the $300 million raised in its Series D round in August 2023, aims to fuel further product development. Ramp offers a finance automation platform for businesses, integrating corporate cards, bill payments, accounting automation, and expense management. With a focus on leveraging AI capabilities, Ramp aims to enhance decision-making, automate processes, and provide comprehensive expenditure insights. The company has made significant advancements in product innovation, launching over 150 new features in 2023.
FinTech Futures, 04/18/2024, Cameron Emanuel-Burns: Nubank partners Wise Platform to power new Global Account offering
Klarna to launch credit card offering in the US “over the next few months”
The US Klarna Card, issued by WebBank, offers flexible payment options for purchases both online and in physical stores that accept Visa. Users can repay transactions in three or six monthly instalments, with no monthly, annual, or foreign transaction fees. The card also provides up to 10% cashback through the associated app, which tracks spending. New users must pass a credit assessment and have previously repaid a Klarna instalment. Klarna’s CEO emphasizes the card’s transparency, flexibility, and benefits, stating it provides consumers with more control over their finances. The card, previously launched in Sweden, Germany, and the UK, is now launching in the US, with a waitlist available and a market launch expected in the coming months.
FinTech Futures, 04/18/2024, Tyler Pathe: Klarna to launch credit card offering in the US “over the next few months”
Other news
FinTech Futures, 04/18/2024, Cameron Emanuel-Burns: Wintrust Financial Corporation acquires Macatawa Bank for $510m8
FinTech Futures, 04/16/2024, Cameron Emanuel-Burns: UK government launches open finance taskforce chaired by CFIT
URBN partners with Stripe to power online and in-person retail payments
https://www.fintechfutures.com/2024/04/danish-paytech-flatpay-bags-e45m-in-series-b-funding/