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The largest fintech community in the world. Subscribe to our newsletter to stay up to date on the latest in news opinions, and all things financial technology.

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The Front Page of Global Fintech

The largest fintech community in the world. Subscribe to our newsletter to stay up to date on the latest in news opinions, and all things financial technology.

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TWIF Latam January 28 - Our first event of the year is here! 🇲🇽

TWIF Latam January 28 - Our first event of the year is here! 🇲🇽
This Week in Fintech x Taktile x Belvo: Fintech Mixer in Mexico City.

Hola amig@s fintech,

We are just a few days away from our first TWIF gathering of the year! A big thanks to Taktile and Belvo for cohosting this event, promising to unite our Latam fintech community on February 1st in Mexico City. Don't miss your last chance to RSVP!

In this week's edition, we shine a spotlight on Pilou founders Andrea de la Garza and Patricia Florencia. Please keep reading the Latam fintech news. 

If you’re reading this on the web, we’d appreciate your support by sharing and subscribing.  

💛 Until next weekend. Até a próxima!

  • Lorena
📣
Feedback? Reach out to us anytime! This week we're Daniela on product launches & partnerships, and exits; Elena on read & stat, podcast, and post of the week, other news, and deeper reads; and Lorena on funding, policy, spotlight, and editing. 

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Want to sponsor a newsletter? See our sponsorship information here or reach out to latam@thisweekinfintech.com. Want to sponsor an event with the TWIF Latam community?  Check out the FAQ here, send us your info via this form or reach out to latam@thisweekinfintech.com


📖  Read & Stat of the Week

In the report “Megatrends. A guide to the technologies that will revolutionize 2024”, Endeavor and Santander detail that Mexico has the potential for developing megatrends in tech, such as AI, gaming, metaverse, cleantech, open economy, and biohacking.

🎙️ Podcast of the Week

🦉 Post of the Week

Source

💡
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💸 Venture Financing

💸 Equity

🇨🇴 Quipu, the Colombian revolving credit for business equipment startup, secured investment from the G2 Fintech Fund as part of its seed funding round. The total funding, combining pre-seed and seed rounds, reaches an impressive US$3.5 million, led by Bancolombia, and with the participation of IDB Lab, Caffeinated Capital, Flori Ventures, and Vertical Partners.

💰 Venture funds 

🇲🇽 Forandra Capital, the Mexican asset manager specializing in alternative and disruptive investments, announced the launch of Activist Fund 1, an opportunity for Mexican investors to engage in global financial activism. It involves investors acquiring significant stakes in underperforming companies to influence management and board decisions, driving positive change. The AF1 fund aims to invest in the trend-setting markets of the US, Europe, and Japan.


☯️ Exits

🤝 M&A - Fintech

🇨🇴 Girasol Payment Solutions, the Curacao-based payment platform, announced the acquisition of   Finzi, the Colombian digital banking and learning platform for teens in Latam, to enter Colombia. . No further details were disclosed.

🌎Afinz, the Sorocaba-based financial institution, announced its first acquisition by purchasing 100% of Pagolivre, the Brazilian recurring payments platform. No further details were disclosed.


🚀 Product Launches & Partnerships

💻 Fintech 

🌎TraderPal, the US-based investment platform in Latam, announced the expansion of its financial services with the upcoming launch of its own credit and prepaid cards. The company aims to empower users with a US investment account and address the financial needs of its Latam user base.

🇨🇱 R2, the Mexican embedded lending platform, and TUU, the Chilean POS system payment platform, announced a partnership to introduce TUU Crédito, a credit solution for Chilean SMEs. The solution aims to simplify access to financing for businesses, providing customized credits to users of the TUU machine.

🏦 Financial Services & Banking

🌎 Palenca, the Mexican payroll API, and Falabella Card, the Chilean multinational chain of department stores, announced a partnership to integrate Palenca into the digital hiring model of Falabella – Soriana Card, enabling customers to apply for credit cards by sharing personal details.


📜 Policy

🇨🇱 Tanner, the Chilean digital bank, received temporary authorization from Chile’s financial regulatory agency, CMF. This is the first of three stages from the authorization process in order to get complete permission to operate as a bank.


🔦 Spotlight on Andrea de la Garza and Patricia Florencia, Pilou founders, CEO and CFO, respectively.

Q. Can you give us three words to describe yourselves?

A. Passionate, perseverant, grateful.

Q. What made you get interested in the fintech industry after working in a big corporation/traditional financial institution?

A. Our interest in the fintech industry was piqued during our time working closely together at Credit Suisse managing Ultra High Net Worth individuals where less than 15% of our clientele were women. This reality highlighted the critical need for a fintech solution tailored to the unique financial needs and challenges women face: a friendly, transparent and easy-to-use platform created by women for women. 

Q.Which has been your greatest professional challenge?

A. Leaving behind great jobs with their perks and compensations to build a startup has, honestly, been both thrilling and terrifying at the same time. We co-founded Pilou three years ago, and it has been an immensely rewarding journey, driven by our passion to help bridge the gender gap in the world of investments.

Q. What is your opinion about the fintech industry in Latam?

A. The fintech sector in Latin America is booming, driven by a confluence of increased internet access, smartphone adoption, and a substantial unbanked population seeking financial services. Countries like Brazil, Mexico, Colombia, and Argentina have seen a surge in digital payment solutions, neobanks, and online lending platforms. Regulatory advances, such as Mexico's "Ley Fintech," are paving the way for secure and inclusive financial innovation across the region. Additionally, there's a significant trend towards democratizing investments, with platforms offering retail investors access to previously inaccessible markets. This ecosystem is not only improving financial inclusion but also acting as a catalyst for economic growth and the modernization of the traditional banking sector in Latin America.

Q. What advice would you give to young people that are starting their careers in the fintech industry?

A. Having taken the entrepreneurial leap to build a wealth tech startup, we would advise young professionals entering the fintech space to stay adaptable, the fintech environment is dynamic with constant innovations and shifting regulations. Build strong relationships – networking is vital! The fintech community is known for its collaborative spirit, so find mentors and engage with your peers. Lastly, to focus on making seamless user experience platforms. Fintech is ultimately about simplifying financial services and addressing real-world problems.


📰 Other News 

Livia Chanes, CEO at Nubank Brazil

🇧🇷 Nubank named Livia Chanes as CEO in Brazil, with the objective of continuing to increase its market share in various products.

🇲🇽 Tesla named Teresa Gutierrez as Country Manager in Mexico.

🇨🇴 Visa announced the opening of its new office in Bogotá, which will serve as a hub for the Andean Region (Colombia, Peru, Ecuador, and Venezuela).

🇲🇽 Hi Ventures, formerly Mexico-based early-stage venture capital fund ALLVP, announced new AI-focused fund.


📚 Deeper Reads

Unlocking operational excellence: the role of AI

Recurring payments: the crucial role of fintech in evolving the user experience (ES)

The 'secret weapons' for inclusion (ES)

Embedded Finance: They are here to stay! (ES)

Rules for fintechs to operate betting resources in Brazil come shortly after carnival(PO)

Digital payments: 5 trends for 2024 (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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