Hola amig@s fintech,

We’re happy to announce that TWIF will host a series of side events during the upcoming Mexico Fintech Festival week, from Feb 25 to 27. If you plan to visit the city, this is the perfect opportunity to network and connect with the local fintech community. 

Here’s the initial list of our events for the #MexicoFintechWeek: 

• Tuesday, Feb 25 - Fintech Founders & VCs Dinner by The Fintech Fund & Gilgamesh Ventures
• Wednesday, Feb 26 - Fintech Talks at Mexico Fintech Week by TWIF
• Thursday, Sep 27 - Mexico Fintech Festival Conference by Fintech Mexico

RSVP now, as spots are limited. You can also keep the conversation going by joining our Mexico City Fintech Whatsapp group. 

🩵Until next weekend. Até a próxima!

• Lorena

📖  Read of the Week

The annual TTR Data report “Latin America - Annual Report 2024” highlights significant growth in transactional activity across the region, with a total of 2,793 registered deals, representing a 14% increase compared to 2023. These transactions amounted to approximately $118 billion, with Brazil being the most active market (47% of total deals and 54% of the capital mobilized). Mexico and Chile ranked second and third in the number of transactions, with 22% and 13%, respectively. The technology sector led investments, representing 29% of transactions in the region, followed by the financial sector with 21%. Additionally, there was a notable increase in VC transactions, which grew by 19% year-over-year, driven mainly by tech startups. 

🦉 Post of the Week

 🎙️ Podcast of the Week

💸 Venture Financing

💸 Equity

🇧🇷 NeoSpace, the Brazilian startup specialized in generative AI models for the financial sector, secured $18 million funding round led by Itaú Unibanco, which invested $15 million for a 15% stake. 

💰 Venture funds 

🌎 Core Latin America Ecosystem Fun, the new $5 million investment fund launched to support blockchain projects in LatAm. It aims to boost the region's presence in the global blockchain ecosystem by funding startups focused on DeFi, tokenization, and digital asset management. 

📺 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

🚀 Product Launches & Partnerships

💻 Fintech 

🇲🇽 Wise, the UK-based cross-border payments provider, announced the expansion of its services to Mexico, enabling users to send money to 160 countries in 40 different currencies. The move comes as demand for low-cost international transfers grows, with Mexican consumers expected to send over $27.9 billion in cross-border remittances this year. 

🇧🇷 Bybit, the UAE-based global cryptocurrency exchange, announced the launch of Bybit Pay in Brazil, integrating with the country’s instant payment system, PIX, to enable fiat and crypto transactions. The platform aims to allow users to connect their crypto wallets for payments across websites, mobile apps, and POS systems, supporting BRL and major cryptocurrencies like USDT, BTC, and ETH. 

🏦 Financial Services & Banking 

🌎 Kamina, the Ecuadorian financial wellness platform, and Mastercard announced a partnership to enhance financial inclusion and reduce over-indebtedness in LatAm. By leveraging behavioral sciences and AI-driven financial diagnostics, Kamina aims to help users manage debt, prevent financial crises, and improve overall economic well-being. 

🌎 Global66, the Chilean cross-border payments platform, and Mastercard announced a partnership to launch a global savings account with a 6% annual return in USD and no hidden fees. The account aims to support balances in eight currencies, including USD and EUR, enabling international transfers, currency exchange, and payments. 

🇲🇽 RappiCard, the Colombian digital credit card provider, and Walmart México announced a partnership to offer interest-free installment payments across Walmart Supercenter, Bodega Aurrera, and Sam’s Club, both online and in physical stores. This partnership aims to strengthen RappiCard’s position, enhancing financial flexibility for its users.

🇨🇴 Bancolombia, the leading Colombian bank, and Visa announced a partnership to launch Tap to Add Card, a new feature allowing users to instantly add their Visa cards to Apple Pay by simply tapping them on their iPhone. Initially available for iOS users, the feature aims to enhance digital payment adoption in Colombia.

📜 Policy

🇦🇷 Coinbase, the U.S.-based cryptocurrency exchange, received regulatory approval in Argentina to offer digital asset services. This milestone marks Coinbase’s expansion into LatAm, providing secure and regulated crypto trading and investment solutions for Argentine users.

🇺🇾 EBANX, the Brazilian payments fintech, has been officially registered as a Payment Services and Collection Provider (PSPC) in Uruguay. This authorization enables EBANX to expand its local operations and strengthen its presence in the Latin American payments ecosystem.

🇧🇷 AstroPay, the global fintech specializing in cross-border payments, obtained a Payment Institution License in Brazil for its multi-currency wallet. This regulatory approval supports the company’s continued global expansion and strengthens its position in the Brazilian market.

🇧🇷 PagBrasil, the Brazilian payment technology company, secured a Payment Institution License from Brazil’s central bank. This authorization allows PagBrasil to enhance its offerings and further solidify its role in the local payments industry.

📰 Other News 

🇨🇱 Pablo García was named member of the Chamber of Payments Directory at Shinkansen.

🇨🇴 Ignacio Giraldo was named CEO at RappiPay Colombia.

🌎 Bancolombia, expanded its cryptocurrency services by integrating crypto transactions into its platform. This move strengthens its digital asset offerings and reflects the growing demand for crypto services in LatAm.

🌎 Bitso, the crypto exchange, launched The Push, a startup accelerator focused on stablecoin innovation. This initiative aims to support new fintech ventures working with digital assets and blockchain technology.

🇲🇽 Bankaool, Mexico’s digital-first bank, announced the second phase of its expansion, which includes the opening of new branches and business centers. The bank aims to enhance accessibility and financial inclusion across the country.

🌎 Visa announced a partnership with XMoney, a digital payments platform, to enhance cross-border payment solutions. This collaboration aims to simplify international transactions for businesses and consumers.

🇧🇷 Pix, Brazil’s instant payment system, is projected to generate $30 billion in recurring payments. The feature is expected to revolutionize the Brazilian payments ecosystem by offering seamless and cost-effective transactions.

🇲🇽 A group of female banking executives in Mexico launched the Women Leaders in Banking Group aiming to boost female representation in financial leadership roles. This initiative seeks to drive gender diversity in the financial sector.

🇧🇷 Moove, the Uber-backed vehicle financing platform, acquired YC-backed, the Brazilian car rental startup to expand its operations in LatAm. The acquisition strengthens Moove’s market presence and mobility solutions.

📚 Deeper Reads

The Digital Transformation of Remittances: Driving the Global Economy

Tech startups see rise in venture capital funding after two-year lag

Why traditional venture math doesn't always add up for VCs or founders

Women redefining entrepreneurial capital in Mexico (ES)

The sincerity of cryptocurrencies against the official dollar (ES)

The lessons and laments of DeepSeek, according to VCs

📣 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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