Fintech innovation agenda in Brazil could prevail in the upcoming years, even as recent elections herald change at the country's top office.
Neon's fundraising comes at a time when the banking sector has seen default rates increase in Brazil.
This new investment tripled Menta's valuation, which now plans to consolidate its position in Mexico, Colombia, and Argentina.
This week, PicPay, one of the leading digital wallets in Brazil, announced a new acquisition in a bid to gain ground in Brazil's trillion-dollar loan market.
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.
The fintech ecosystem in Latin America and the Caribbean has doubled in size in the past three years, with trends showing signs of maturity.
Instant payment system Pix has overtaken credit and debit cards as the most used means of payment in Brazil.
Latam regulators show growing interest in the technology that powers cryptocurrencies. Brazil is to begin pilot tests for its CBDC this month.
Digital bank G10 is the first of its kind in a Brazilian favela, low-income areas which together account for roughly 17 million citizens.
Pagbank reported 30 million customers, a 19% increase from 24.8 million a year earlier, now among Latin America's largest neobanks.