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DiMo turns one year in Mexico. With this new digital payments initiative, the central bank wants to move on from CoDi´s unsuccessful experience.
Chilean Datamart raised $6.3 million in a seed round to expand into Mexico. Moonvalley Capital led the funding.
Alipay has partnered with Openpay in Mexico to further their expansion into the Americas; users of Alipay will now be able to use the service to make purchases at businesses that are affiliated with Openpay; Souheil Badran, President of Alipay Americas stated, “An increasing number of Chinese consumers are shopping for products in Mexico that they can’t find at home, and they want to be able to purchase those items with the payment method they use most often. Our partnership with Openpay not only connects Mexican merchants with Chinese consumers seeking their products and services, but also opens new revenue channels for merchants in Mexico. We are thrilled to be partnering with Openpay as we continue to expand the reach of Alipay throughout the Americas.” Source
The Mexican operation represents Nubank's second-largest market and is seen as a strategic target in the company's internationalization plan.
In two years, Spin has quickly carved out a place of itself as one of the most relevant fintech players in Mexico.
Belvo will provide access to employment data at the Mexican Social Welfare bureau. It could be a key driver for lending to the underbanked.
Several LatAm countries moved forward in 2021 with regulatory initiatives seeking to promote competition and data sharing in the industry.
Fintech unicorn Ualá finally obtained a banking license in Mexico, clearing the way for the neobank to aggressively expand its product suite.
Mendel plans to use the resources raised in this round to double its growth and accelerate the development of its platform.
Buy Now, Pay Later companies are gaining ground in Latin America, with Kueski reporting more than 1 million customers.