Hola amig@s fintech,

We hope you had a wonderful Thanksgiving! On behalf of the TWIF LatAm team, we want to extend a huge thank you to our now more than 60,000 incredible readers and subscribers — you're the driving force behind TWIF's success. 

Now, let’s jump into the latest updates in LatAm fintech. And as always, we truly appreciate your support — don't forget to share and subscribe!

💛 Until next weekend. Até a próxima!

• Lorena

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📊 Stat of the Week

Efforts to reduce the unbanked population remain a challenge for over 50% of adults in many countries, including Mexico, where access to formal financial services is limited, especially for women and rural communities. The Credicorp Financial Inclusion Index, by Ipsos, ranks Mexico second to last among eight Latin American nations, with a score of 41.7 out of 100, ahead of only Peru.(Source).

📖  Read of the Week

Nubank’s report “Towards a Public Policy for Financial Inclusion” underscores the urgent need for a regulatory framework in Mexico to promote financial innovation and accessibility. With nearly 54% of Mexican adults lacking access to formal financial services, particularly in rural and underserved areas, the report highlights the role of fintech in bridging this gap. It calls for flexible regulations and increased investment in digital financial solutions to drive inclusion and economic growth.

🦉 Post of the Week

 🎙️ Podcast of the Week

💸 Venture Financing

💸 Equity

🌎 R2, the Mexico-based lending tools platform for LatAm tech companies, secured $59M in equity and debt to expand its solutions for SMEs. The company raised $9 millions in an extension of its Series A round, led by Hi Ventures and Cometa and with the participation of Endeavor Catalyst, Y Combinator, and Gradient Ventures by Google. It also obtained a $50 million credit from Community Investment Management.

🇧🇷 Agilize, the Brazilian platform providing accounting solutions for SMEs, raised $9 millions in a round led by AXA. Funds will accelerate the platform growth and expand offerings in Brazil.

🇨🇴 Avista, the Colombian asset-backed securities startup, raised $4.5 millions through Titularice, focusing on non-mortgage assets on the Colombian Stock Exchange. Avista facilitates lending and liquidity solutions for underserved markets.

💰 Venture funds 

🌎 Kamay Ventures, the regional corporate VC fund, integrated BID Lab and DFC into its portfolio to support innovative startups across LatAm. The partnership aims to boost the growth of ventures with high social and economic impact in the region.

☯️ Exits

🤝 M&A - Fintech

🇧🇷 Celcoin, the Brazilian financial infrastructure provider specializing in banking-as-a-service (BaaS) solutions, announced the acquisition of CobranSaaS, the credit and collection services startup. This move aims to expand Celcoin's offerings into the credit vertical.

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🚀 Product Launches & Partnerships

💻 Fintech 

🇨🇴 Puntored, the Colombian payment network, and Nu Colombia, announced a partnership to enable cash deposits into Nu accounts at over 15,000 Puntored locations nationwide. The service, leveraging Nu's unique "Nuplaca" alphanumeric identifier, aims to expand access to financial services in all municipalities.

🇦🇷 Takenos, the Argentine financial services platform for freelancers and remote workers, and Mastercard, announced a partnership to launch its first local prepaid card. The card enables users to convert earnings in dollars or euros into local currency at competitive rates, aiming to simplify daily purchases. 

🇨🇴 Koin, the fraud prevention platform owned by Grupo Despegar, announced the start of operations in Colombia, to support ecommerce merchants in mitigating risks like card fraud, phishing, and identity theft. The company plans to onboard 100 Colombian merchants within its first year. 

🇲🇽 Revolut, the British digital banking platform, announced its entry into Mexico. Starting operations in Q1 2025 after securing CNBV approval, Revolut will offer deposit accounts and free international transfers. 

🇨🇴 Yuno, the Colombian payment orchestration platform, announced it has integrated Mastercard's Click to Pay feature, enabling businesses to provide faster and secure online payments. This addition aims to reduce cart abandonment rates and boost conversions. 

🏦 Financial Services & Banking

🇧🇷 Itaú, the Brazilian financial institution, announced the launch of its proprietary generative AI solution, Inteligência Itaú, aiming to enhance customer experiences with features like Pix payments via WhatsApp and personalized financial management through its benefits program Minhas Vantagens. 

🇨🇴 Coinscrap Finance, the Spanish AI-driven financial solutions platform, announced its entry to the Colombian market to promote financial inclusion and personal finance management. The company aims to optimize transaction categorization and encourage savings while collaborating with local banks to enhance financial literacy. 

📜 Policy

🇪🇨 The Central Bank of Ecuador published Resolution BCE-GG-024-2024, which introduces regulatory updates to bolster the security and efficiency of the financial system. These measures focus on enhancing transparency and strengthening compliance in the country’s banking operations.

🇲🇽 The CNBV (National Banking and Securities Commission) authorized Fintual, the Chilean digital investment platform, to register users digitally without investment limits. This move seeks to promote financial inclusion and expand access to digital financial services across Mexico.

🇧🇷 Accesstage and Banco BMG received authorization to operate as payment initiators under Open Finance in Brazil. The approval strengthens the integration of financial services and expands digital payment solutions in the region.  

📰 Other News 

🌎 Diego Perez, was named Vice-Presidente at Fintech IberoAmérica.

🇲🇽 The Mexican Fintech Association highlighted the importance of cybersecurity practices within fintechs, showcasing GRIF as a leading example of resilience and security innovation. This underscores a growing emphasis on robust infrastructure to protect users in Mexico's expanding financial technology sector. 

🇧🇷 Apoia, the Brazilian crowdfunding platform, raised $800K in pre-seed funding to strengthen its expansion efforts in Brazil. The platform connects creators and communities for grassroots funding initiatives.

📚 Deeper Reads

Latin America fintech will be a market to watch in 2025

Fintech startups need to be AI firms now to survive

The Power Law in Venture Capital

The Bitcoin boom, innovation with the power of Blockchain (ES)

Different paths in the Mexican fintech landscape (ES)

The digital payments revolution for micro and small businesses in Latin America (ES)

📣 LatAm startup alum who have been impacted by layoffs and recruiters looking for top talent, check out the Startups Alumni and Layoffs Brasil databases.  

If you’re looking to hire from a group of 10,000+ smart, motivated fintech professionals, come pick up a Collective Pass and post a job here.  If you’re looking for your next adventure at one of the best fintech companies, check out the open roles here!

Made in LatAm with 💛 by Elena, Daniela, and Lorena

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