Despite high interest rates and risks of a reccesion, many BNPL fintech providers now vie to offer loans to the underbanked in Mexico.
Nubank, the largest neobank in Latin America, nearly doubled its revenue in the first quarter to $1.6 billion, up 87% year-over-year.
Several of the largest fintechs in Mexico have plans to step up loans to small and medium-sized businesses in the country.
Chile's fintech Migrante to acquire a motorcycle loan startuup in Colombia. It also changed its name to Galgo, or "greyhound" in Spanish.
Brazil's Minister of Finance criticized "stratospheric" revolving credit card interest rates amid a campaign to push through economic reforms.
More than a year after it would expand to Latam, British neobank Revolut has officially launched in Brazil with its global account product.
Fairplay provides technology and financing solutions for e-commerce businesses and marketplace sellers in Mexico.
According to Creditas' recently released figures, the company recorded a loss of $26 million, a 60% drop from the same period in 2022.
Latam regulators show growing interest in the technology that powers cryptocurrencies. Brazil is to begin pilot tests for its CBDC this month.
Belvo will provide access to employment data at the Mexican Social Welfare bureau. It could be a key driver for lending to the underbanked.