Citi separates Banamex from institutional banking business in Mexico
The separation comes as Citi “continues to actively work” on the proposed IPO of Banamex.
Mexico
The latest fintech news, resources and expert analysis in Mexico by the leading intelligence provider for the worldwide fintech community.
Mexican fintech start-up R2 secures $50m debt facility and $9m in fresh equity
The equity injection is an extension of the company’s $15 million Series A round from 2022.
Mexican fintech Minu bags $30m Series B funding
Minu has now raised $47 million in total funding to date.
Mexico’s Albo partners Paymentology to expand digital payment services
Albo plans to launch a new initiative with Mastercard to boost digital payments in Mexico.
New digital wallet Kuady launches in several LatAm markets powered by Mambu
The Kuady digital wallet has recently become available in Argentina, Chile, Mexico, and Peru.
Santander launches e-commerce payments solution Getnet SEP for LatAm merchants
The solution is first being made available to merchants in Argentina, Brazil, Chile and Mexico.
Migrant-focused fintech Comun lands $21.5m Series A
The funds add to the $4.5 million seed round Comun raised in December.
Mexico’s Stori lands $212m in mix of equity and debt financing
In addition, Stori has appointed Diego Cabrera Canay, ex-CFO of dLocal, as its new group CFO.
BBVA and Telefónica Tech team for cybersecurity push, launch dedicated centre in Mexico
BBVA says its goal is to be “prepared to respond to all types of attacks”.
Mexican fintech start-up OCN lands $86m Series A funding round to drive international expansion
OCN provides gig workers in Latin America and the US access to capital for car rentals.
ICYMI fintech funding round-up: Ximple, Hero, Curve, Chift and more
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Mexican fintech unicorn Clip lands $100m investment
Clip retains its $2 billion valuation following the round.
Mercado Pago enters talks with regulators for banking licence in Mexico
Mercado Pago GM Pedro Rivas says the firm’s ambition is to become “the largest 100% digital bank in Mexico”.
Mexican BNPL fintech Aplazo bags $70m in equity financing
Aplazo has now secured over $100 million in equity financing since its formation in 2020.
Revolut to launch operations in Mexico with new banking licence
The UK-based challenger will make its Mexican debut with money transfer services.
ICYMI fintech funding round-up: Marco, Zone, Copilot, Flowpay and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Mexico’s Ziff acquires digital lending start-up Arrenda
The acquisition sees Ziff take control of the start-up’s flagship lending platform, Adelanta.
Mexican microlending start-up Baubap secures $120m in debt financing
The fintech intends to leverage the debt financing to extend its lines of credit to the underserved.
Mexican neobank Hey Banco’s split from Banregio due for 2025
The move, announced in 2020, was expedited by Hey Banco’s banking licence authorisation last July.
ICYMI fintech funding round-up: Fordefi, Mia Share, Kema, Coba and more
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ID Finance lands $150m debt financing headed by i80 Group
ID Finance claims the financing marks its “largest ever financing round” to date.
Mexican banking heavyweight Banorte taps SAP Fioneer to launch digital bank Bineo
The app-based offering launched this week with account and lending services.
Rappi to discontinue RappiCuenta offering in Mexico next month
Users in Mexico have been asked to withdraw all funds before the closing date of 11 February 2024.
Visa to acquire majority stake in Mexican payment processor Prosa
The deal, for an undisclosed sum, is expected to close in the second half of 2024.
Mexican SME payments platform Kapital raises $40m Series B
The round was led by Tribe Capital, with participation from Cervin Ventures and Tru Arrow, among others.
US stock trading app Webull enters Mexico with Flink acquisition
The deal also includes Mexican brokerage house Vifaru Casa de Bolsa, which Flink agreed to purchase in 2022.
Mexican fintech start-up Trafalgar taps Thought Machine for core banking technology
Trafalagar plans to launch its new platform, running on Vault Core, in Q2 2024.
Kash Baghaei joins expense management platform Jeeves as chief product officer
With 20 years of experience in engineering and product management, Baghaei joins Jeeves from Early Warning.
Airwallex enters Latin America with MexPago acquisition
Airwallex says the deal is an important part of its broader growth strategy in the Americas.
Mexican neobank Albo raises $40m in Series C funding round
The round also saw participation from existing investors Valar Ventures and Nazca Ventures.
Ugandan fintech Asaak acquires FlexClub Mexico for undisclosed sum
The acquisition marks Asaak’s entry into the Latin American market after achieving profitability in Uganda.
Chilean digital bank Tenpo partners Dock for new credit card offering
The offering positions Tenpo as a competitor to traditional financial lenders in the country.
Mexican challenger Klar lands $100m debt facility to expand credit product offerings
The new facility has been provided by US investment firm Victory Park Capital.
Private debt platform Cordada taps Thought Machine for core banking tech
The Chilean firm will use Thought Machine’s Vault Core to develop personalised financial products.
Mexican challenger Albo snaps up Delt.ai for $20m
The acquisition makes Albo “the only neobank to offer debit and credit products for both consumers and SMBs”.
Mexico’s CNBV reportedly facing legal action over delays publishing open finance rules
The complaint was filed by a Mexican citizen in June, according to El Economista.
Mexican start-up mattilda lands $19m Series A funding
The capital will be used to accelerate its growth in Mexico and fuel its international expansion plans.
Mexico’s BanCoppel taps Temenos for core banking overhaul
Utilising Temenos’ core banking platform, BanCoppel aims to scale its operations and offer more banking services.
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Mexican fintech Stori secures $50m debt capital from CIM
For Stori, it is the second debt facility from CIM, following a $75m debt facility in November 2021.
