Hola amig@s fintech,

This edition is the last one of 2025, and in a very December mood, it includes reflections on this year, along with forecasts and projections for next. So look for analytical reads and forward-looking pieces on what may shape the fintech landscape in Latin America in 2026. 

As you read, I hope you also find time to enjoy the end-of-year pause and the festivities that come with it. The cover, featuring Rio’s Copacabana New Year’s Eve celebration, is a small reminder to do just that. If you happen to be there, or decide to jump on a plane tomorrow, you will be joining one of the world’s largest events. And, “when in Rome, do as the Romans do”, so make sure to dress in white to join millions for live music and massive fireworks over the Atlantic. It’s lively, loud, and joyful. It doesn’t get more Latin American than that.

🩵 We’ll see you back here next week (and year).

~ Vivi

📍TWIF Community

🗓️ Events

🗣️ Channels

📊 Stat of the Week 

Source: “Beyond Cash: The Digital Payments Revolution in Latin America and the Caribbean”, Inter-American Development Bank.

📖  Read of the Week

A summary of 2025 Identity Fraud by Numbers published by Regula shows how digital identity has become the central vulnerability for banks and fintechs, as AI continues to drive increased fraud and credential exposure. The analysis suggests that identity fraud has become a systemic, interconnected risk affecting banks, fintechs, payment providers, and digital platforms. Many attacks relied on weaknesses in authentication, explaining that AI made these gaps easier to exploit by enabling more convincing synthetic identities and harder-to-detect scams, such as deepfake voice fraud. For fintechs and banks, the result is greater complexity in onboarding and authentication. The report also observes shifts in customer behavior: after a fraud incident, users are more likely to switch providers and choose banks and payment services based on their ability to prevent fraud rather than on price or convenience.

🦉 Post of the Week

The post outlines ten fintech trends expected to shape 2026, from deeper integration with traditional financial institutions to the growing role of AI, infrastructure-led models, and regulatory alignment. Together, they point to a more mature fintech phase focused on sustainability, scalability, and real-world adoption rather than experimentation.

🎙️ Podcast of the Week

| Venture Financing

💸 Equity

🇺🇾 Anzi, a digital lending company focused on SMEs that operates across Latin America, closed the first phase of a financing plan targeting up to $25 million for the next five years. The company plans to use the capital to scale its lending platform and to expand operations across the region.

🇨🇴 Welli, a Colombian digital health platform, received an investment from Krealo, Credicorp’s corporate venture arm. The capital will support Welli’s growth as it expands its access to fast credit for health treatments not covered by public healthcare or private insurance companies.

🇨🇴 Galilea, a Colombia-based digital lending platform, secured US$500,000 in international funding from investors with ties to Silicon Valley. The round will support product development and help the company scale its lending operations in the Colombian market. 

💵 Debt 

🇧🇷 iCred, the Brazilian digital credit company focused on payroll-deducted loans, secured US$208 million through two credit rights investment funds (FIDCs) coordinated by Itaú BBA and XP Inc. Of the total, about US$181 million will finance payroll-deductible loans for beneficiaries of Brazil’s National Social Security Institute (INSS), while the remaining US$27 million will support FGTS-backed payroll lending through 2026.

🇧🇷 Inter, the Brazilian digital bank, raised US$100 million through the issuance of letras financeiras, a long-term debt instrument used by financial institutions. The funding will add to Inter’s capital structure and will support its credit operations and broader financial services strategy.

| Exits

🤝 M&A - Fintech

🇧🇷 Bemobi, the Brazilian payments and billing technology provider, acquired 50.1% of Paytime, a no-code white-label payments platform, and launched a new Bemobi PaaS unit. Bemobi also secured an option to buy the remaining 49.9% of Paytime by 2031.

🇦🇷 Nexo, the global digital-asset platform, acquired Buenbit, the Argentina-founded crypto trading platform that operates in Argentina and Peru. The deal will support Nexo’s Latin America expansion.

| Product Launches & Partnerships

💻 Fintech

🇲🇽 Spin by OXXO partnered with Kira to enable users in Mexico to receive funds sent from the United States directly into their Spin accounts. The alliance allows transfers to be initiated in the U.S. and collected digitally in Mexico, expanding Spin’s cross-border capabilities in remittances and everyday digital payments.

🇧🇷 B3, Brazil’s stock exchange, plans to launch its own tokenization platform and a Brazilian real–linked stablecoin as part of its broader digital assets strategy. The initiative aims to support the issuance and settlement of tokenized financial instruments within a regulated environment, expanding B3’s role in digital market infrastructure and regulated blockchain-based finance.

| Policy

🇺🇸 JPMorgan Chase froze accounts linked to BlindPay and Kontigo, two stablecoin-focused payments companies operating across Latin America, after transactions connected to Venezuela raised compliance concerns. BlindPay operates in several markets in the region, while Kontigo provides cross-border payment services between Latin America and the United States. JPMorgan said the decision was related to risk and compliance controls and was not based on the use of stablecoins themselves.

🇸🇻 El Salvador is in negotiations with the International Monetary Fund over the potential sale of Chivo, the country’s state-backed Bitcoin wallet. The talks also include limiting public-sector involvement in Bitcoin-related activities and making cryptocurrency acceptance optional for the private sector.

| Other News 

🇧🇷 Brazil’s crypto market grew 43% in 2025, with average investment per user surpassing $1,000 as adoption expanded beyond early traders. The increase reflects broader use of crypto for savings, diversification, and payments, alongside rising participation from both retail and institutional investors, signaling a more mature crypto market in Latin America’s largest economy.

🇲🇽 Mexico closed 2024 with 81.6 million consumer credit accounts, up 16% year over year, according to the CNBV’s Panorama Anual de Inclusión Financiera 2025. Digital Sofipos increased their relevance, led by Nu México Financiera, Stori, and Klar, which together originated more than 9.4 million loans. The article notes, however, that credit remains concentrated in traditional banks. 

| Deeper Reads

• The startups that concentrated the most capital in Latin America in 2025 (ES) | Bloomberg Línea reviews the startups that attracted the largest funding volumes in Latin America in 2025, a year marked by fewer deals but much larger ticket sizes. The ranking highlights the growing role of non-dilutive financing alongside selective equity rounds. The list includes CloudWalk ($780 million debt round, Plata ($500 million) and Kavak ($400 million). Large equity rounds featured Klar ($190 million Series C) and Omie ($160 million Series D).
• Six Fintech Startup Predictions For 2026 | The article offers six key predictions for fintech startups in 2026, pointing to a more disciplined funding environment, deeper integration with traditional financial institutions, and growing emphasis on sustainable unit economics. The piece also highlights how AI, payments infrastructure, and regulatory clarity are likely to shape which fintech models scale in the next cycle.
• Latin American banking prepares for a 2026 of transformation and opportunities (ES) | A high-level outlook on how banks across Latin America are positioning themselves for 2026, highlighting digital transformation, regulation, and growth expectations, with an optimistic view of the sector’s next phase. 
• Cybersecurity in 2026: Priorities for an Interconnected Region (ES) | A Forbes México analysis looks at how rising digital payments, open finance, and cross-border flows are making cybersecurity a central priority for financial institutions and fintechs in Latin America as the region becomes more interconnected.
• How crypto regulation will unite two worlds in Brazil (PT) | An analysis of how Brazil’s evolving crypto regulation is bringing traditional finance and digital assets closer together, creating clearer rules for banks, fintechs, and crypto platforms to operate side by side.

📣 LatAm fintech enthusiasts looking for a new role, check out https://jobs.thisweekinfintech.com

Made in LatAm with 🩵by 

Elena, Deputy Director of New Technologies at Afirme Financial Group

Carlos, ESG Analyst at CFECapital

Vivi, Communication expert and Principal at Areté Consulting

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