Hola amig@s fintech,

Happy Valentine's Day! Most of Latin America celebrates February 14 as the Day of love or love and friendship, while Brazil, Colombia, and Bolivia have their own dates.

A 2021 Statista survey found Chileans spent the most on gifts, averaging $43 per person, with men outspending women by $5. Mexicans followed at $42, showing a similar trend. No matter the day or the budget, it’s always a great time to celebrate love and friendship!

🩵Until next weekend. Até a próxima!

• Lorena

🌐 TWIF Community

🗓️ Events

🗣️ Channels

Join our community in Mexico on Whatsapp

Join our community in Colombia on Whatsapp

📊 Stat of the Week 

In 2024, Colombia's e-commerce payments hit USD 52B, positioning LatAm as the third-largest digital commerce market. Credit cards led with USD 24B (46%), driven by Visa, Mastercard, and local options like Crédito Fácil CODENSA. Bank transfers followed at USD 17.7B (34%), powered by PSE and Transfiya for secure, instant payments. Debit cards contributed USD 3.1B (6%), while digital wallets (USD 2.6B, 5%) saw growth through Nequi and DaviPlata. BNPL services (USD 2.1B, 4%), led by Addi and Mercado Pago, gained traction, and cash payments remained relevant (USD 1.6B, 3%) via Efecty and Via Baloto. These trends highlight Colombia’s evolving, inclusive payment ecosystem.(Source)

📖  Read of the Week

The EY report “Expectations 2025: Entrepreneurs and Venture Capital Industry” shows the outlook in LatAm remains moderately optimistic, with 67% of entrepreneurs expecting stable or positive economic growth. Technology and digitalization remain priorities, as 58% of companies invest in digital infrastructure to stay competitive. However, 45% anticipate tougher access to capital, particularly in fintech and digital health. Meanwhile, sustainability is gaining traction, with 62% integrating ESG criteria into their growth strategies. These trends highlight a resilient and innovation-driven business landscape preparing for 2025’s challenges.

🦉 Post of the Week

💸 Venture Financing

💸 Equity

🇦🇷 Glim, the Argentine B2B2C financial wellness platform, raised $3.47 million led by Skandia, with participation from DCG, ParaFi, MatterScale, Newtopia, and Wayra to expand its services. The platform focuses on providing salary advance solutions and financial education to employees.

🇨🇱 Banca.me, the Chilean company specializing in digital banking solutions, secured $3 million to continue consolidating its operations under a profitable model.

🇲🇽 Paymon, the Mexican cross-border payment solutions platform, raised $600K in a pre-seed round led by Magma Partners, Buen Trip Ventures, and Pygma, to expand operations in Mexico and Ecuador. 

💵 Debt 

🇧🇷 iCred, the Brazilian digital credit provider, secured $62 million through a new FIDC (Credit Rights Investment Fund) to strengthen its payroll-deductible loan offerings for INSS pensioners and retirees.

🇲🇽 Aplazo, the Mexican Buy Now, Pay Later (BNPL) company, secured $35.5 million through a line of credit from BBVA Spark to expand its credit offerings across Mexico.

🇧🇷 CashU, the AI-driven financial platform, raised $20 million through a proprietary FIDC backed by Itaú BBA and Credit Saison. The funding will support the company’s expansion in AI-powered lending solutions.

💰 Venture funds 

🌎 GVC Gaesco y Nex Tier Ventures, the Europeans VCs, launched a $50 million fund to support AI startups in LatAm. The fund will provide early-stage funding to promising AI startups across the region.

📺 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

🇲🇽 Stori, the Mexican credit card issuer, announced a partnership with Club Santos Laguna, the Liga MX soccer club, to launch a co-branded credit card for fans, backed by Mastercard. The Santos x Stori card offers 2% cashback on purchases at the club’s official stores, 99% approval rates, no annual fees, and financing options of up to $1,150. 

🇲🇽 Ximple, the Mexican fintech supporting catalog-based entrepreneurs, announced the launch of a credit card for loan disbursement. Developed in partnership with Dock and Mastercard, the card enables users to access credit at over 6 million point-of-sale terminals in Mexico. 

🇧🇷 Juca, the Brazil-based fintech specializing in FGTS early withdrawal loans, announced the expansion of its platform to support retailers and surpassed 3,000 points of sale across the country. The solution allows workers with FGTS balances to access credit instantly, increasing purchasing power and driving retail sales. 

🇧🇷 B2Gether, the Brazilian foreign exchange fintech, announced the expansion of its financial services by launching 4TE Group, a new credit platform aimed at businesses. B2Gether now offers both currency exchange and business lending solutions to enhance financial flexibility for corporate clients. 

🇲🇽 Tapi, the Argentine digital payments provider, and Mercado Pago announced a partnership aiming to enhance Mexico’s payment infrastructure. The partnership aims to accelerate the adoption of digital payments by integrating Tapi’s payments solutions with Mercado Pago’s platform, allowing users to manage subscriptions, top-up mobile balances, and seamless transactions. 

🏦 Financial Services & Banking 

🇲🇽 Liverpool, the leading Mexican retail and also credit provider, and Actinver, the Mexican investment bank, announced a partnership to launch Activa Liverpool, a savings and investment account designed to promote financial wellness. The initiative aims to open 250,000 accounts by the end of 2025, offering users a debit card, access to investment funds with daily returns, and 24/7 availability through Liverpool’s app. 

🇧🇷 Workhub, the Canadian corporate solutions platform, and Paketá, the Brazilian employee financial wellness platform, announced a partnership to integrate payroll loans and salary advances into its ecosystem. The partnership will provide over 235,000 users with seamless access to financial products, reinforcing Workhub’s strategy to centralize corporate services in a single platform.

📜 Policy

🇧🇷 The Central Bank of Brazil announced that new Open Finance features will go live on February 29. These updates aim to enhance data-sharing processes, improve financial product offerings, and further integrate digital financial services within the country's regulatory framework.

🇨🇱 Tanner Banco Digital received full operational authorization from Chile's Financial Market Commission (CMF), completing its licensing process. The bank had been operating under a provisional authorization certificate since January 2024 and received authorization of existence prior to obtaining the full license.

📰 Other News 

🇧🇷 Ann Williams was named new president of ABCD (Brazilian Association of Digital Credit).

🇧🇷 Juliana Campos was named VP of Operations for Worldpay in LatAm.

🇧🇷 Apoena Cesar Martins was named HR Director at Celcoin.

🇧🇷 Rodrigo Melgar was named CTO at Swap.

🇧🇷 Jacob Mendel was named CTO at Parfin.

🌎 Leadsales, the Mexican customer relationship management platform tailored for WhatsApp sales, announced a partnership with NVIDIA Inception. By integrating NVIDIA's AI-powered solutions, Leadsales aims to improve sales management and automation for SMBs in LatAm.

🇧🇷 Split Risk, the Brazilian credit risk assessment platform, raised $8.6 million from HSR Soluções e Participações and Labarca Empreendimentos. The investment will help enhance its AI-driven risk evaluation technology for financial institutions.

🇦🇷 Argentina's e-commerce sector achieved record-breaking revenue, fueled by shifting consumer habits and payment trends. A recent report emphasizes the increasing popularity of digital payments and alternative financing options in Argentina.

📚 Deeper Reads

Only 5% of Colombians use credit cards as a payment method (ES)

Six AI tools to monitor personal finances (ES)

The Future of Fintech: AI, Blockchain and Digital Payments (PO)

New Mastercard report highlights the key role of fintechs in financial inclusion in Latin America and the Caribbean (ES)

Made in LatAm with 🩵by Elena, Digital Innovation Manager at Banco Azteca, Daniela, Investment Associate at Cultivo, and 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.