Hola amig@s fintech,

This weekend, Mexico City hosted the vibrant 2025 Flower Festival, a celebration of culture, nature, and community that added a burst of color to the streets. We hope those in the city were able to take in the beauty of the event, which is always a reminder of how important it is to get outside and enjoy the perfect spring weather. As we embrace the season, we also look forward to the continued growth of fintechs across Latin America, driving innovation and accessibility in the financial landscape.

This week, we're excited to welcome Carlos to the LatAm newsletter team! He’ll be joining us to contribute his expertise to our policy content, bringing fresh insights and valuable perspectives to our coverage. We're thrilled to have him on board!

🩵Until next weekend. Até a próxima!

• Lorena

🌐 TWIF Community

🗓️ Events

🗣️ Channels

📊 Stat of the Week 

More than 50% of Bolivians have managed to save money, positioning Bolivia as a leader in Latin America in terms of savings. In contrast, only about 20% of Paraguayans have managed to save, reflecting the country's economic challenges. Furthermore, more than 7% of Brazilians use mobile money apps, such as Nubank or Mercado Pago, to manage their savings, indicating a growing trend toward digital financial solutions in the region (Source). 

📖  Read of the Week

The "Latam Insurtech Journey" report, prepared by Digital Insurance LATAM and MAPFRE, reveals that in 2024 the insurtech ecosystem in the region reached 502 startups, reflecting an annual growth of 5% despite a 38% reduction in annual investment, which stood at $92 million. H2 showed a 156% rebound compared to H1, indicating positive prospects for 2025. The startup mortality rate was 9.4%, with organic growth of 15%, resulting in the creation of 70 new insurtechs. Additionally, 51% of the ecosystem focuses on digital distribution, while 49% acts as enablers collaborating with (re)insurers and intermediaries.

🦉 Post of the Week

 🎙️ Podcast of the Week

💸 Venture Financing

💸 Equity

🇲🇽 Merama, the Mexican e-commerce platform, raised $45 million from Advent International, SoftBank, Monashees, Valor Capital, and Balderton Capital; it is also securing $170 million in debt financing, led by BTG Pactual, Citi, and Itaú.

🇲🇽 Mendel, the Mexican corporate spending management platform, raised a $35 million Series B round led by Base10 Partners, with participation from PayPal Ventures, Infinity Ventures, Industry Ventures and Hi.vc.

🇧🇷 Divibank, the Brazilian platform that pivoted from financing digital marketing campaigns to offering payment orchestration solutions, raised a $8.2 million round led by Better Tomorrow Ventures, with participation from Alter Global, Allievo Capital, Endeavor Scale-Up Ventures, Presight, Maya Capital, Clocktower Ventures, Magma Partners, Gilgamesh Ventures, and Rally Cap Venture.

🇧🇷 Jumpstart, the Brazilian company to assist immigrants in accessing credit and financial services, raised $560k pre-seed round with participation from angel investors.

🇧🇷 MT Bank, the Brazilian financial solutions company for small and medium-sized enterprises, secured a $556k investment from Hiker Venture. 

💵 Debt 

🇨🇴 Bayport Colombia, the Colombian personal loans for pensioners and public sector employees platform, received a $28 million loan from BBVA to expand its offering to Colombians. 

🇨🇴 Addi, the Colombian startup offering buy-now-pay-later services, secured a $70 million credit facility from Goldman Sachs and Fasanara Capia. 

💰 Venture funds 

🌎 Caribbean Venture Collective launched the investment initiative by Techstars alumni, which aims to bridge funding gaps for Caribbean startups and underrepresented founders. 

​🇧🇷 Credix, the Brazilian fintech specializing in credit and embedded finance solutions, announced a partnership with BTG Pactual Asset Management to launch a $51 million Fundo de Investimento em Direitos Creditórios (FIDC) aimed at SMEs.

📺 Sponsored Content

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

☯️ Exits

🤝 M&A 

🌎CFOstartup, ​the Argentinean financial services firm, and Legal Ventures, announced a merger to launch Zeta, the newly formed startup and VC advisory platform to provide financial, legal, tax, and audit services for LatAm startups and funds. 

🚀 Product Launches & Partnerships

💻 Fintech

🇲🇽 Kueski, the Mexican BNPL and online lending platform, announced it issued over 800,000 loans to seniors. The company aims to offer features like mobile-friendly loans, fraud protection, priority support, and ongoing financial education to bridge the digital divide.

🌎 Elo, the Brazilian payment technology provider, announced the launch of a new financial education platform aimed at improving customers' money management habits. The platform aims to offer tailored tips, budgeting tools, debt management strategies, and benefits for Elo cardholders.

🇧🇷 Nubank announced the launch of a new private payroll loan offering called Crédito do Trabalhador via the CTPS Digital platform. The product aims to allow users to simulate and complete the loan process digitally through the app. 

🌎 Payana, the Colombian AI-powered accounting automation platform, announced its rebrand from Higo and the expansion in Mexico to unify its regional presence. The company aims to streamline financial operations and boost efficiency for businesses across the region.

🇧🇷 PicPay, the Brazilian digital wallet and financial services platform, announced its entry to the private pension market with 32 new investment fund options in partnership with Icatu Seguros. The offering includes both PGBL and VGBL modalities and supports plan portability from other institutions. 

🏦 Financial Services & Banking 

🇲🇽 BBVA México announced a partnership with Mexico’s Ministry of Tourism to digitize and financially empower small businesses in Pueblos Mágicos. Through its Avanzamos por México program, BBVA aims to offer point-of-sale terminals, online payment tools, and financial education to boost tourism and business formalization. 

🇲🇽 DiDi, the Chinese ride-hailing and delivery platform turned digital finance provider, announced the expansion of its fintech offerings in Mexico with strong growth across DiDi Préstamos, DiDi Card, and DiDi Pay. 

🇲🇽 Kontempo, the Mexican B2B BNPL platform for industrial sectors, and Cemex, the Mexican building materials company, announced a partnership to offer credit lines to over 2,300 Construrama stores across Mexico. The partnership aims to enable SMEs and construction professionals to access financing.

📜 Policy

🇧🇷 Pagsmile, the US-based payments processing platform, received authorization from the Brazilian Central Bank to operate as a Payment Institution. 

🇧🇷 The Brazilian National Monetary Council and the Central Bank released a resolution to prohibit pension funds from investing in crypto. 

🇧🇷 Neon, the Brazil-based digital bank, received authorization from the financial regulator of Brazil to provide services as a Payment Transaction Initiator.

🇧🇷 Pluggy, the Brazilian Open Finance API startup, received authorization from the Brazilian financial regulator to provide services as a Payment Transaction Initiator.

Why subscribe to This Week in Fintech?

• Join other execs from Visa, Plaid, Stripe, Robinhood, Revolut, Chime, Rapyd, and more to get the latest insights and deep dives.

• Learn from and collaborate with the world's largest fintech community, with 120,000+ members. • Memberships start at $10 per month.

Join today.

📰 Other News 

🇲🇽 Soraya Perez Munguia was named Executive President at the Union of Mexican Financial Institutions (UNIFIMEX).

🌍 Alexandre Mehrdad was named General Manager at Bitso Retail Unit.

🇲🇽 Leadsales, the Mexican CRM and sales funnel platform integrated with WhatsApp, was named a Meta “WhatsApp Solution Partner” for SMEs. 

🇲🇽 Briq, the Mexican real estate crowdfunding platform, celebrated its 10-year anniversary. The platform has enabled thousands of investors to participate in real estate projects through fractional ownership

🇦🇷 Mendoza’s City in Argentina launched a digital map for entrepreneurs to foster local commerce and support small businesses. The initiative aims to centralize resources and provide orientation for startups and entrepreneurs looking to grow their businesses within the region.

🇨🇴 Colombia is accelerating its push toward real-time payments with Bre-B and open finance. Experts at the Forbes Open Banking Summit highlighted that the adoption of open finance and interoperable instant payment systems is crucial to expanding financial inclusion and innovation across the country.

🌎 Global Accelerator Network has added Tecnológico de Monterrey’s Entrepreneurship Center in Mexico to its global network. The partnership strengthens GAN’s presence in LatAm and connects local startups to international mentorship, capital, and acceleration resources.

🌍 The IDB issued its first blockchain-based digital bond in British pounds, aiming to boost financial innovation in the region. The initiative seeks to improve transparency, efficiency, and cost-effectiveness in bond issuance processes, signaling a broader push for digital finance adoption in LatAm.

📚 Deeper Reads

Buy now, pay later: the BNPL revolution in Mexico and around the world (ES)

Is there a ceiling?: Digital wallets are going all out, and new players are joining the sector (ES)

The narrative behind the crypto boom in Latin America (ES) 

A comprehensive list of 2025 tech layoffs

📣 LatAm startup alumni 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, 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

👍👎 Did you like this edition of TWIF LatAm?  Take a 1-minute anonymous survey here.

Come meet us in person at www.thisweekinfintech.com/events. You can also join our global community on Twitter, LinkedIn, and Instagram.