According to the authorization announcement, the new payment institution of Pomelo will be headquartered in São Paulo.
Creditas aims to reach breakeven in 2023. It has reduced losses for five straight quarters and is repricing the portfolio with higher rates.
Open Finance is still a new concept in Colombia. However, the country is catching up with a series of regulatory initiatives.
Picpay was expecting to break even only in the middle of 2024 and could prepare again to go public on the New York Stock Exchanges.
Barte aims to scale its operations with the bolstered cash, launching a new credit product later this year.
Mexican fintech Cometa raised $5 million in a seed round to cater financial services to education institutions in Mexico.
Latin America Ebanx expects growth in alternative payment methods as e-commerce continues to grow in the region, as well as in Africa.
E-commerce giant Mercado Libre will invest $3.6 billion in Brazil, with its fintech unit as one of the major growth drivers in Latin America.
According to Belvo, the new product will function as a gate for users to initiate payments directly inside third-party apps.
Colombian fintech Avista raised $22.5 million in debt from Accial Capital as it seeks to boost lending to the elderly.