In addition to acquiring a 3.85% equity stake in the fintech Méliuz, BV will have the option to buy all shares of the controlling block.
The case is especially worrisome for startups that offer payment services, such as digital wallets.
After years of waiting, the central bank of Brazil has finally authorized Meta's WhatsApp merchant payment system.
Brazil's fintech Nomad took $61 million in a Series-B funding round to expand its portfolio. Tiger Global Management led the investment.
As the crypto wave continues to sweep Latin America, both banks and fintechs are crafting an expanding crypto offering in Brazil.
Itaú joins the digital banking frenzy with "Itu," a digital banking initiative in Chile offering a virtual account and a debit card.
Brazilian fintech Koin announced a partnership with U.S. payments giant Mastercard to advance Buy Now, Pay Later in Latin America over the next five years.
Nubank booked $380 million in net income during the Q1 as it benefits from increased cross-selling and a growing customer base.
David Velez founded Nubank in 2013 with the idea of taking on big banks in Brazil and leveraging technology to change how financial products are served in the country radically.
Nubank has finally reached breakeven, sending bolstering signs that ripple across the regional fintech ecosystem.