Latin American fintech neobank Nubank and Mercado Libre post strong Q2 profits, defying industry challenges and showing resilience.
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