Belvo, LatAm’s response to Plaid, raises $43M to scale its API for monetary services

Belvo, LatAm’s response to Plaid, raises $43M to scale its API for monetary services

Belvo, a Latin American start-up which has built an open finance API platform, announced today it has raised $43 million in a Series A round of funding. A mix of Silicon Valley and Latin American-based VC firms and angels participated in the financing consisting of Future Positive, Kibo Ventures, FJ Labs, Kaszek, MAYA Capital, Venture Friends, […] Mentioning Crunchbase data, Belvo believes the round represents the biggest series A ever raised by a Latin American fintech. Belvo aims intends work with leading fintechs in Latin America, spanning covering throughout like the neobanks, credit providers service providers personal finance financing Items Americans use utilize day. Belvo’s goal is to link all sorts of accounts together. Particularly, Belvo plans to hire more than 50 engineers in Mexico and Brazil by year’s end.

Pomelo raises $9M to construct a payments facilities for LatAm fintechs

Pomelo raises $9M to construct a payments facilities for LatAm fintechs

Pomelo, a startup developing a fintech-as-a-service platform for Latin America, has raised $9 million in a seed round of funding. The Buenos Aires-based startup’s brand-new facilities aims to permit fintechs and ingrained finance gamers to release virtual accounts and problem pre-paid and credit cards through “certified” onboarding procedures. The COVID-19 pandemic has actually accelerated the adoption […] Cards have a projected payments volume of $900 billion per year, and yet 95% of these deals are being processed by regional incumbents, asserts Pomelo. Pomelo’s objective is to fix the issue by creating a brand-new generation of financial services infrastructure that permits companies to build a fintech business and launch cards “much faster” throughout Latin America. This round caught our eye for a couple of other reasons. Looking ahead, Pomelo plans to use its new capital in part to open workplaces in São Paulo, Brazil and Mexico City, and work with dozens of individuals in those cities as well as in its house base of Argentina.

Brazil’s Divibank raises millions to end up being the Clearbanc of LatAm

Divibank, a financing platform offering LatAm organizations access to development capital, has closed on a $3.6 million round of seed funding led by San Francisco-based Better Tomorrow Ventures (BTV). São Paulo-based Divibank was established in March 2020, right as the COVID-pandemic was starting. The business has built a data-driven funding platform aimed at giving organizations […] For now, Divibank is focused on Brazil, thinking about the country is substantial and has more than 11 million SMEs “with numerous growth opportunities to check out,” according to Taboada….

alt.bank, Brazil’s latest fintech targeting the unbanked, raises $5.5 M

alt.bank, Brazil’s latest fintech targeting the unbanked, raises $5.5 M

It looks like everybody and their mother is attempting to transform the Brazilian banking system. Previously this year we blogged about Nubank’s $400 million Series G, last month there was the PicPay IPO filing and today, alt.bank, a Brazilian neobank, revealed a $5.5 million Series A led by Union Square Ventures (USV). It’s obvious that […] To drive house the objective, and really target the unbanked, Liebman and his group of 80 workers have actually designed an app that can be utilized by the illiterate. Instead of words, users can follow color-coded triggers to finish a transaction. The pre-paid credit card is crucial since online shops in Brazil don’t accept debit card purchases.”The bar was high for our very first investment in South America,” said Union Square Ventures partner John Buttrick.