Latin America's neobanks showed growing profits and robust customer acquisition in the quarter, a sign of resilience amid economic troubles.
Latam neobanks have weathered the capital crisis and reported a strong year of profitability while still growing their customer base.
A report reveals that 9 in every 10 SMBs in the region are currently underserved. This presents an opportunity for Latin American fintechs.
While VC funding to Latin American startups saw a year over year decline, the fact that it is stabilizing offers hope to the industry.
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.
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.
Following its success in Brazil, Inter has expanded into the U.S. market. The key? Providing a synergy of products targeting the users' needs
Addi has targeted the Colombian and Brazilian credit market with their BNPL product. CEO Santiago Suarez says insights make the difference.