In addition to acquiring a 3.85% equity stake in the fintech Méliuz, BV will have the option to buy all shares of the controlling block.
The case is especially worrisome for startups that offer payment services, such as digital wallets.
After years of waiting, the central bank of Brazil has finally authorized Meta's WhatsApp merchant payment system.
The Brazilian Central Bank has proposed allowing fintech companies to lend money without taking deposits; the bank is set to hold public hearings for the next two and a half months on the proposed rules; according to Central Bank Director Otávio Damaso the rules do not need congressional approval; the Brazilian fintech industry has grown sixfold in the past few years and now the regulators are looking to make the country more fintech friendly; banks will also be able to create their own fintech arms when the new rules take effect. Source
The Series C round of Contabilizei, which offers accounting services, also had the participation of Goldman Sachs, and PruVen Capital
Brazil's fintech Provu raises BRL 1.4 billion funds led by Goldman Sachs. Read on LABS
Brazilian fintech Koin announced a partnership with U.S. payments giant Mastercard to advance Buy Now, Pay Later in Latin America over the next five years.
Nubank booked $380 million in net income during the Q1 as it benefits from increased cross-selling and a growing customer base.
David Velez founded Nubank in 2013 with the idea of taking on big banks in Brazil and leveraging technology to change how financial products are served in the country radically.
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