Latam neobanks have weathered the capital crisis and reported a strong year of profitability while still growing their customer base.
Ebanx announced the expansion of its operations to the African continent after acquiring an essential presence in 15 Latin American nations.
To increase the engagement of the fintech's user community, the new product will expand Nubank's internal rewards program.
Venture capital funding to LatAm startups droped 70% to $1.3 billion in the quarter, down from $4.1 billion in the year-ago period.
The Covid tech boom could turn out to be a statistical blip
Shares of the e-commerce giant jumped 8% on Nov. 4 following the release of third-quarter results on the back of a strong performance of its financial technology division, Mercado Pago.
Latin America's leading e-commerce Mercado Libre reported 49 million fintech customers in the quarter, up 40% year over year.
Mercado Libre reported strong Q4 2022 results with their fintech division, Mercado Page, leading the way
Driven by fintech revenue, Mercado Libre booked $201 million in net income in the period, up from $65 million in the year-ago quarter.
Nubank reaches 53.9 million customers in Brazil, Mexico, and Colombia. LatAm's largest neobank aims to attract users while reducing cost towards profit