This acquisition consolidates Yaydoo's position as the largest provider of payment solutions in the Latin American B2B market.
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Latin America's digital bank Nubank reported a record net income in Q4 as it continues to grow in Mexico, Colombia and Brazil.
These numbers consolidate Nubank as the fifth-largest financial company in Brazil by customers.
This is Visa's second offer for the Brazilian fintech. Previously, the American company offered $1 billion to acquire the startup, but the offer was refused.
With this capital injection, Racional will seek to double its team in the short term and reach 100,000 users in Chile, Brazil, and Colombia.
When considering mergers and acquisitions in Latin America, companies better have a well-thought-out strategy before proceeding, a panel of experts agreed at LendIt Fintech LatAm 2021, held Dec. 7-8 in Miami, Fla.
The last years have been great for fintechs. But this scenario of rising interest rates and economic uncertainty is hitting companies hard.
Chile's new fintech law will provide an incentive for other regulators in the region to move forward with similar frameworks, analysts say.
Payments fintech Pacto raised $4M from VC investors to expand its point-of-sale software to restaurants and bars in Mexico.