Mercado Libre booked $359 million in profits from $129 million a year ago, driven by strong e-commerce in Mexico and growing fintech products.
BNPL business models gained momentum in Brazil earlier in the year among financial technology firms catering services to cardless customers.
BNPL credit models are growing in Latin America's fintech sector, with major investments recorded even as rising rates deter risk appetite.
Here are the most read news stories from our daily newsletter today: Latam: Open Banking Provider Prometeo Allows Access for...
Argentine banks sued Mercado Libre for alleged dominant position in the market, while the fintech responded by dennouncing "cartelization".
This is the first acquisition in the history of the Open Finance platform, which was created in 2019 by Pablo Viguera and Oriol Tintoré.
With its new investment, Solfácil wants to expand its business in Brazil and lower the cost of domestic energy.
Comun's seed round was led by Silicon Valley fund Costanoa Ventures and included participation from South Park Commons and FJ Labs.
In Latin America's fast-growing digital space, Quick Response codes have quickly risen as a serious contender to cash and are now ubiquitous.
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