Hola amig@s fintech,

As the year comes to a close, this edition includes several reports and big-picture reads that help make sense of where fintech in Latin America is heading as we move into 2026. Be sure to check the "Read of the Week" and "Deeper Reads" sections.

We are also already looking ahead to Mexico Fintech Week 2026. Join us for a can’t-miss, invite-only side event bringing together leaders shaping the future of stablecoins in the region. RSVP here. We shared the first details in last week’s edition, and more is coming, stay tuned.

🩵 We’ll see you back here next week!

~ Vivi

Feedback?  Reach out to us anytime! This week it’s Elena on read, post, and podcast of the week, funding, exits, other news and deeper reads, Carlos on policy and on product launches and partnerships, and Vivi on editing.

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📊 Stat of the Week 

Women-led fund managers remain vastly underrepresented in venture capital, with only a small share of industry capital flowing to diverse managers despite evidence of stronger performance. This gap limits investment in women-led ventures and shows how unlocking more capital could drive innovation and inclusion, including in LatAm fintech.(Source) 

📖  Read of the Week

Will startup investment take off in 2026? Fintechs are set to play a leading role (ES)

A Bloomberg Línea analysis argues that startup investment in Latin America may pick up again in 2026, but in a far more selective way. Rather than a broad rebound, investors are expected to focus on fewer companies with clearer business models, stronger fundamentals, and paths to profitability. Fintechs linked to payments, financial infrastructure, and essential services are likely to stand out, as capital shifts from growth-at-all-costs to disciplined, resilient models.

What fintechs need to know to win sponsor bank support

A new This Week in Fintech analysis explores how fintechs must evolve to secure and retain sponsor bank support in an era of tighter regulation and elevated risk scrutiny. Banks are increasingly selective about which fintech partners they bring onboard, prioritizing those that demonstrate robust compliance, risk controls, and “bank readiness.” The piece breaks down why understanding regulatory expectations, building strong compliance frameworks, and engaging proactively with regulators have become strategic differentiators for fintechs seeking to access payments, card, account, and wallet infrastructure through sponsor relationships

🦉 Post of the Week

#recomendaciones #limites #banca | Jorge Tavares

El pasado mes de octubre de 2025, el sector bancario determinó diversas #recomendaciones por medio de acuerdos gremiales en la Asociación de Bancos de México, donde estableció diversos #limites para i) transferencias internacionales; ii) transferencias en efectivos; iii) pago de remesas; y, iv) depósitos y retiros en efectivo y en cuentas concentradoras. La intención de la #banca es reducir y gestionar el fraude 🐀 dentro de este tipo de actividades, por lo que los límites y operaciones serán: ✅ Transferencias internacionales 🖥️💸 a. Entre quienes: realizadas o recibidas por Personas Físicas b. Cuando: A partir del 30/Junio/2027 c. Efecto: Se realicen exclusivamente entre cuentahabientes. ✅ Transferencias en Efectivo a Usuarios / Remesas 🇺🇸 🇨🇳 🔛 🇲🇽 a. Entre quienes: Usuarios b. Cuando: Pagos restringidos a un monto máximo de 350 dólares por remesa y no más de 900 dólares por mes por persona receptora. c. Efectos: *Debidamente identificados mediante la presentación de identificación oficial vigente y el registro de al menos un dato biométrico. *Por definir si las autoridades definen que el pago de remesas en efectivo realizado por instituciones no bancarias, se sujete a las mismas medidas de identificación, control y límites de monto. ✅ Depósitos y retiros en efectivo / cuentas concentradoras. 🏦 💰 a. Entre quienes: Cualquiera que deposite y retire (clientes o usuarios). b. Cuando: A partir del 1/Julio/2026 c. Efectos: Clientes o usuarios se identifiquen para depositar y/o retirar a partir de $140,000 (Ciento Cuarenta Mil Pesos). d. Efectos en Cuentas Concentradoras: Que cualquier depósito sea referenciado. Legal & Compliance Advisors

LinkedInJorge Tavares

🎙️ Podcast of the Week

💸 Venture Financing

💸 Equity

🇺🇸 Leona Health, a healthcare startup, raised $14 million in seed funding to scale its AI-driven platform for patient-doctor communication through WhatsApp. The round will support product development and expansion throughout Latin America.

🇨🇴 Monet, the Colombian digital lending platform focused on replacing informal “gota a gota” loans, secured an additional $24 million in funding to accelerate its expansion. The capital will allow the company to strengthen its credit offering for underserved users and support growth across new regions as demand rises for alternatives to high-cost informal lending.

💵 Debt 

🇲🇽 Plata, the Mexican digital financial services platform and soon-to-be regulated bank, secured $500 million in private credit financing arranged by Nomura Securities International, marking the largest financing ever raised by a Mexican fintech.

🏦 M&A - Banks, Insurers & Incumbents

🇨🇱 Itaú Chile, the Chilean unit of Brazil's Itaú with a focus on commercial banking and payments, acquired Klap, a local payments and point-of-sale network operator, in a $40 million deal for 100 % of the company. The acquisition strengthens Itaú's footprint in merchant services, digital commerce and SME payment solutions in Chile.

🇲🇽 Grupo Financiero Banorte, one of Mexico’s largest banks and financial services groups, completed the $ 50 million acquisition of 100 % of the RappiCard business by purchasing the remaining 44.28 % stake it did not already own, consolidating full ownership of the digital credit card platform originally launched with Rappi.

🚀 Product Launches & Partnerships

💻 Fintech

🇨🇴 Nu Colombia announced a partnership with Gopass to enable toll payments via credit and debit cards, a move aimed at speeding up digitization of transit payments and reducing reliance on cash in everyday mobility. 

🇨🇱 Transbank integrated its Webpay Plus solution into Shopify, allowing more than 20,000 Chilean merchants to accept digital payments more easily and securely, strengthening the country’s e-commerce ecosystem.

🇨🇴 Refácil enabled users to pay utilities, insurance, and telecommunications bills through WhatsApp Business, making it easier for users to manage recurring payments.

🇸🇻 Bitso signed an agreement with Tether to support entrepreneurs and startups building solutions for the Salvadoran economy. The partnership combines infrastructure, mentorship and access to expertise to strengthen the entrepreneurial ecosystem.

🇺🇾 dLocal partnered with Convera to improve cross-border payments for global merchants operating in emerging markets. The collaboration combines dLocal’s local payment rails with Convera’s FX and treasury capabilities, aiming to reduce friction, improve settlement efficiency, and simplify international collections and payouts.

📜 Policy

🇲🇽 The National Banking and Securities Commission (CNBV) revoked Vector's operating license after the firm was sanctioned by U.S. authorities over alleged links to money laundering and drug trafficking. The decision bars the brokerage from continuing operations, effectively ending its 49-year history in the financial sector. 

📰 Other News 

Carla Moura, Head of Compliance and Banking Expansion LatAm at Conduit.

🇧🇷 Carla Moura was named Head of Compliance and Banking Expansion LatAm at Conduit.

🇲🇽 Justo, the Mexican e-commerce logistics and delivery platform, shut down its operations in Mexico and exited the local e-commerce market to focus on core logistics services in its strongest regions, citing intense competition and the difficulty of scaling in a fragmented retail landscape.

🇧🇷 Brazil's payments ecosystem is seeing a strategic battle over control of the end-to-end digital customer journey, with fintechs, banks and tech platforms competing to embed wallets, instant payments, loyalty programs, and financial services directly into commerce and everyday applications.

🇨🇱 Fintechs in Chile are reshaping the financial landscape by scaling embedded finance, digital credit, and API-driven services. This expansion is improving access for underserved consumers and SMEs while pushing incumbents to modernize through partnerships and open banking initiatives, signaling faster innovation across Chile’s fintech ecosystem.

🇲🇽 Volaris and Viva Aerobus, two of Mexico's largest low-cost airlines, announced plans to merge and create a larger carrier focused on routes between Mexico and the United States. The deal could reshape travel demand as well as payment flows tied to bookings, loyalty programs, and digital wallets used by millions of passengers.

📚 Deeper Reads

• https://www.thisweekinfintech.com/what-fintechs-need-to-know-to-win-sponsor-bank-support/ 
• Mexico, with 80% of transactions in cash; at the level of Iraq (ES)
• Stablecoins becoming indispensable for Latin American banks (ES)
• XI Financial Inclusion Report 2025 (Latin American Federation of Banks, FELABAN)
• Fifth Financial Education Week: How to promote a stronger culture?
• SBI Holdings, Startale to Launch Regulated Yen Stablecoin
• Fintech and Wealth: the New Age of Accessible Investing

📣 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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