Funds such as Soma Capital, GBV, Techstars, Devlabs, Ripio Ventures, and Platanus Ventures also joined Arch's investment round.
Mexican fintech Clara relocated its headquarters to Brazil in an effort to claim a share of its massive digital payments market.
Mounting cryptocurrency adoption in Latin America is drawing investment capital into the region, signifying that growing interest.
Facing tighter financing conditions, several financial technology companies in Latin America have accelerated mergers and acquisitions plans.
Nubank, the largest neobank in Latin America, will introduce USDC to its Brazilian clients, a significant advancement for the stablecoin.
After the FTX crash rocked the crypto world, Brazil was one of the fastest nations to adapt to the new scenario. Now what's next?
Low multiples could lead to strategic fintech M&A as companies with abundant capital take the opportunity to scoop deals.
With payroll lending, Nubank blazes a trail into secured lending, an asset that bears less risk than credit cards and individual loans.
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."
The fintech will operate in Panama, El Salvador, Guatemala, and Mexico, where it plans to become an ally of the region's underbanked population.