Can a retail bank offer a motorcycle to its clients? Might a fintech sell furniture or tennis shoes while providing financing?
Mercado Libre booked $359 million in profits from $129 million a year ago, driven by strong e-commerce in Mexico and growing fintech products.
Financial arm of the major Brazilian retailer now facilitates cryptocurrency trading for millions of users of its digital wallet, MagaluPay.
Brazilian neobank Nubank reached 90 million customers in Latin America and reported a surge in profits in Q3.
Nubank and Banco Inter are moving away from the local stock exchange, while other Brazilian fintechs skip the market altogether.
Mexican fintech Aplazo concluded its Series B funding round, securing $70 million, with an additional $45 million in new equity financing.
It has not been a smooth sail for smaller Mexican fintechs either, who have struggled to meet requirements.
A drawn-out workers’ strike at Brazil's central bank in protest of wage increases is having an unexpected impact on the fintech industry.
Mercado Libre launched Mercado Coin, its first-ever token that will be initially available in Brazil as part of its loyalty program.
A report reveals that 9 in every 10 SMBs in the region are currently underserved. This presents an opportunity for Latin American fintechs.