Low multiples could lead to strategic fintech M&A as companies with abundant capital take the opportunity to scoop deals.
Open Finance completed its first 2 years in Brazil with 15 million users. The challenge, however, is to grow beyond the specialized audience.
These numbers consolidate Nubank as the fifth-largest financial company in Brazil by customers.
In Buenos Aires, presidents Lula da Silva and Alberto Fernandez said a trade common currency would help reduce dependency on US dollar.
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.
Fintechs in Brazil are taking a more cautious approach to credit in the face of rising delinquencies and inflation.
iCred will use these resources to expand its operations and enter the payroll loan market for the beneficiaries of the social security fund.
The last years have been great for fintechs. But this scenario of rising interest rates and economic uncertainty is hitting companies hard.
With the investment, Portão 3 plans to expand its team and its line of products and services, including corporate credit cards.
The co-founder and head of Pix, Brazil's instant payment tool, talks about how the Central Bank was able to achieve a scale of around 130 million users in just two years.