Hola amig@s fintech,

We hope you had a great week — and that you’re starting the next one by catching up on the latest fintech news from LatAm! Don’t forget to register for our upcoming events in São Paulo and Mexico City on June 9 — spots are filling up fast!

🩵 Until next weekend. Até a próxima!

• Lorena

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📊 Stat of the Week 

In Latin America and the Caribbean, digital payment usage rose from 44% in 2014 to 66% in 2021, and bank account ownership increased from 52% to 74% during the same period. However, only 18% of individuals save in bank accounts and 30% have access to formal credit, highlighting an incomplete financial inclusion (Source).

📖  Read of the Week

According to the report "The Future of ATMs" by Fintech Americas, despite the growth of digital payments, cash use remains high in LatAm. In 2021, ATM withdrawals increased by 2% compared to 2020, although they still do not reach 2019 levels. In countries like Chile, cash continues to be the preferred means of saving, and in Ecuador and Colombia, cash transactions maintain a significant presence, reflecting the continued importance of ATMs in the region.

🦉 Post of the Week

 🎙️ Podcast of the Week

💸 Venture Financing

💸 Equity

🇧🇷 Blips, the Brazilian company for financing and rental services for SMEs in sectors like beauty, construction, and food, raised a $8.8 million Series A round led by Headline, with participation from XP. 

💵 Debt 

🇧🇷 Makasí, the Brazilian platform offering credit and financial management tools to SMEs construction companies, secured $21 million in debt funding from undisclosed investors. This follows a $19 million corporate bond financing in December 2024, totaling $40 million in debt funding over six months.

💰 Venture funds 

🌎Tritemius, the Spanish investment firm, launched a new $10.9 million Web3-focused fund to back early-stage startups across Europe and LatAm. The fund aims to invest in 25 companies developing blockchain-based solutions in areas such as finance, gaming, and decentralized infrastructure.

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🚀 Product Launches & Partnerships

💻 Fintech

🇨🇴 Bold, the Colombian payments and merchant services provider, announced its expansion into digital banking with new credit cards, interest-bearing savings pockets, and time deposit (CDT) offerings. The company aims to build a full financial ecosystem to support over 550,000 SMEs. 

🌎Defontana, the Chilean cloud-based ERP software provider, announced a $15 million regional expansion plan to scale its operations in Mexico, Colombia, and Peru over the next five years. Defontana offers accessible and AI-enhanced business management tools for SMBs, including modules for finance, HR, sales, and inventory.

🇲🇽 Nubank announced it is halving the yield on its NuRendimiento investment product in Mexico from 14% to 7%, signaling a shift from aggressive growth to financial sustainability. The decision comes amid rising operational losses and a declining interest rate environment.

🇲🇽 Tiendanube, the Argentina-based e-commerce platform for SMEs, announced the launch of Pago Nube, a payments and financial services solution for Mexican merchants, following its integration of B2B fintech Kalto. The new offering includes a checkout gateway, collections module, and plans for SME credit based on transaction history and SAT data. 

📜 Policy

🇲🇽 The CNBV, Mexico’s financial regulator, published in the Official Gazette its authorization for Nubank to organize and operate a new Multiple Banking Institution in Mexico.

🇧🇷 Adyen, the Dutch payment solutions for big businesses company,  completed all certification and approval stages to operate as a Payment Transaction Initiator via Pix.

🇧🇷 The Securities and Exchange Commission (CVM) postponed the implementation of the rule enabling investment portability in securities to January 2, 2026. Initially scheduled for July 1, this change is part of the innovation agenda known as the Open Capital Market.

🇧🇷 Treeal, the Brazilian payments solutions startup, received authorization from the Central Bank of Brazil to operate as a Payment Institution. The license covers electronic money issuance, acquiring, and Payment Transaction Initiation.

🇧🇷 The public consultation promoted by the Central Bank of Brazil and the National Monetary Council, to regulate the responsibilities of financial institutions, protect the financial system, safeguard labor rights, and curb organized crime, will remain open until May 31.

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📰 Other News 

🇧🇷 Julia Barroso was named Business Unit Vice President at Creditas.

🌎 Mercado Libre announced that founder and CEO Marcos Galperin will step down at the end of 2025 after 26 years at the helm. He will transition to Executive Chairman, with Ariel Szarfsztejn, current head of commerce, assuming the CEO role on January 1. 

🌎 World, the digital identification/proof of human/blockchain project with presence in LatAm, raised $135 million in a token sale to a16z and Bain Capital Crypto.

🇲🇽 Binance identifies Mexico as a high-potential market for crypto assets, citing annual user growth rates between 40% and 100%. However, the company emphasizes the need for clearer regulations to fully realize this potential, given the country's high cash transaction rate (90%) and low banking penetration (50%).

🇲🇽 Konfío, the Mexican company specializing in SMEs financing, received the Better Tech 2025 award from LAVCA for its automated credit models. Serving over 35,000 SMEs annually, Konfío's AI-driven platform offers credit approvals in as little as seven minutes and has expanded its services to include working capital loans, business credit cards, and payment terminals.

📚 Deeper Reads

The Future of Crypto in Mexico: Regulation, Compliance, and Opportunity

The Approach Banks Actually Respect

Embedded Finance: What if you never had to worry about choosing the best option again? (ES)

Blockchain could have strengthened security and prevented fraud at INSS (PO)

How SMEs boost the goods industry (ES)

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

Made in LatAm with 🩵by 

Elena, Digital Innovation Manager at Banco Azteca

Daniela, Investment Associate at Cultivo

Carlos, Senior Associate at Emant Consultants

Lorena, Head of Policy for Spanish-speaking LatAm at Tools for Humanity

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