Global neobanks have focused on the regional ecosystem as the fintech sector gained decent size and scale in the past few years.
Payments fintech Pacto raised $4M from VC investors to expand its point-of-sale software to restaurants and bars in Mexico.
Five years since Mexico passed the fintech law, industry leaders call for an overhaul to the current regulation.
Nubank steps up its game in Latin America by offering remittances in Mexico and securing a new license in Colombia.
The report found that the traditional playbook of developing branches and building relationships may count "for little in a world where a mobile phone is the principal' real estate', and word-of-mouth – often via social media – becomes the most powerful form of validation."
How the Mexican SME lender went from startup to baking-licensed neo-bank looking at a NASDAQ-listed SPAC at a valuation of $547 million.
iCred will use these resources to expand its operations and enter the payroll loan market for the beneficiaries of the social security fund.
Companies around the South American country are driving a movement towards the "fintechtization" of the sector.
The number of fintechs operating in Mexico has grown consistently. Progress in financial inclusion, however, has been far less explosive.
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After a sharp lending slowdown in 2022, fintechs in Latin America gear up for credit growth next year as rate pressures fade out.