The payment operation, which has been awaiting regulatory approval for three years, will first focus on small merchants and will be implemented gradually in the South American country.
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.
Mexican fintech Clara relocated its headquarters to Brazil in an effort to claim a share of its massive digital payments market.
Mendel plans to use the resources raised in this round to double its growth and accelerate the development of its platform.
Through its platform, Solvento seeks to build a stronger supply chain through reliable, flexible, and easy-to-use financial solutions.
This acquisition consolidates Yaydoo's position as the largest provider of payment solutions in the Latin American B2B market.
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Mexican fintechs Klar and Konfio tap $100 million credit lines from U.S. firms to boost lending in the country.
It has not been a smooth sail for smaller Mexican fintechs either, who have struggled to meet requirements.
Several of the largest fintechs in Mexico have plans to step up loans to small and medium-sized businesses in the country.
The resources from the new investment, according to the fintech's CEO, will be used to reinforce the team of engineers and invest in the development of new products.