For Aviva, this round stands out as one of the largest for this investment stage in LatAm after the difficulties of the second half of 2022.
By the end of 2020, the Central Bank of Brazil launched its own instant payment system, called PIX, with the ambitious goal of speeding up and facilitating transactions.
David Velez founded Nubank in 2013 with the idea of taking on big banks in Brazil and leveraging technology to change how financial products are served in the country radically.
LinkedIn's "Top Startup 2022 in Latin America" list highlights the work of the most promising and innovative companies of the year.
The funds will be used to expand Baubap’s financial products and provide 3 million new loans over the next 12 months.
It has not been a smooth sail for smaller Mexican fintechs either, who have struggled to meet requirements.
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."
As of April, the Brazilian economy reached the ninth spot as the country with the highest number of unicorn firms.
Buy Now, Pay Later companies are gaining ground in Latin America, with Kueski reporting more than 1 million customers.
Mercado Libre has seen great success in providing financing to millions of people who struggled to obtain it through traditional lenders.