Hola amig@s fintech,

Fintech Week in Mexico has finally arrived! We're hosting a series of exciting events in collaboration with outstanding partners, and we can’t wait to see you there. Let’s bid farewell to February with a wealth of fintech talks and activities.

🩵Until next weekend. Até a próxima!

• Lorena

🌐 TWIF Community

🗓️ Events

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📊 Stat of the Week 

This analysis examines the participation of women in STEM fields (science, technology, engineering, and mathematics) across several countries. Latvia leads with 52% female participation, followed by Lithuania at 49% and Bulgaria at 48%. In contrast, Japan (16%), South Korea (20%), and Germany (22%) exhibit significantly lower rates of female representation. In LatAm, Brazil reports a participation rate of 34%. These statistics underscore the global gender disparity in STEM careers and highlight the pressing need for policies that foster greater inclusion of women in these sectors. (Source)

📖  Read of the Week

Mercado Libre presented the 2024 edition of MELI Trends, highlighting the most searched products per country: in Argentina, the F9-5 Bluetooth in-ear headphones; in Mexico, the Pocophone Poco M5s; in Brazil, the Queen-size bed sheet set; in Colombia, the Xiaomi Redmi Note 13 Pro+; in Chile, the Lernen drill screwdriver kit; and in Uruguay, the high-density foam double bed. The report emphasizes how cultural and technological trends, such as the influence of viral products and sporting events, shape purchasing decisions.

🦉 Post of the Week

🎙️ Podcast of the Week

💸 Venture Financing

💸 Equity

🌎 N5, the global company specializing in banking software solutions, secured a $20 million investment round led by Alexia Ventures and Scale-Up Ventures, from Endeavor. The funding will be used to enhance its AI-driven banking infrastructure and expand its presence in LatAm.

💵 Debt 

🇧🇷 Solfácil, the Brazilian solar energy financial company, raised $200 million through a FIDC (Receivables Investment Credit Fund) to support its expansion. The company aims to accelerate the adoption of solar energy solutions (i.e. panels) across Brazil.  

💰 Venture funds 

🌎 99 Startups, the Latin American venture capital firm, announced the successful closing of its first fund to support the growth of startups in the region. The fund aims to provide early-stage financing to innovative tech-driven businesses across LatAm, reinforcing the firm’s commitment to fostering entrepreneurship and innovation in emerging markets.

📺 Sponsored Content

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☯️ Exits

🤝 M&A - Fintech

🇧🇷 Provu, the Brazilian personal credit company formerly known as Lendico, agreed to sell its Direct Credit Society (SCD) to entrepreneur Vinicius Garcia Cipullo and Holditsafe Financeira Ltda. The transaction is pending approval from Brazil's Central Bank. Provu, established in Germany in 2013 and operating in Brazil since 2015, focuses on digital credit solutions, including the BNPL model.

🚀 Product Launches & Partnerships

💻 Fintech

🇧🇷 Blip, the Brazilian AI-powered chatbot provider, announced the launch of a free version of its Blip Go platform tailored for micro and small businesses on WhatsApp. The solution aims to offer automated customer service, AI-driven responses, and broadcast messaging. 

🇧🇷 Jota, the Brazilian financial services platform, announced the launch of its AI-powered fintech app in Minas Gerais, aiming to simplify payments and financial management for SMBs. The platform allows users to make Pix transfers via QR code, voice commands, or text messages.

🏦 Financial Services & Banking 

🇲🇽 Openbank, the digital banking arm of Santander, announced it has officially launched operations in Mexico, offering remunerated accounts, debit and credit cards, and access to Santander’s ATMs nationwide. The bank aims to provide a fintech-like digital experience while maintaining a full suite of banking services.

🇧🇷 Pagaleve, the Brazilian BNPL platform, and AliExpress announced a partnership to introduce Pix Parcelado, allowing Brazilian consumers to pay in installments without a credit card. Shoppers can now split payments into four interest-free biweekly installments or up to twelve monthly payments with interest. 

🇧🇷 PicPay, the Brazilian digital payments and financial services platform, announced it has expanded its insurance offerings by launching a personal accident insurance plan in partnership with Icatu, the Brazilian insurance and financial services company. The product includes telemedicine, discounts on medical consultations, exams, and medications.

📜 Policy

🇧🇷 The Central Bank of Brazil began a public consultation on restrictions on the use of terms like 'bank' or 'financial' by unregulated companies, aiming to enhance transparency and consumer protection in the financial sector.

🇧🇷 Sem Parar, the Brazilian company that facilitates toll collection, received approval from the Central Bank of Brazil to operate as a Payment Institution (IP), expanding its financial service offerings.

🇲🇽 The Mexican financial regulator CNBV (National Banking and Securities Commission) authorized BBVA’s acquisition of Banco Sabadell’s Mexico subsidiary, reinforcing BBVA’s position in the Mexican financial market.

🇧🇷 Magalu, the Brazilian retail, credit, and financing company, received authorization from the Central Bank of Brazil to operate as a financial institution, allowing the retail giant to expand its financial services.

🇧🇷 FitBank, the Brazilian BaaS startup, secured authorization as a Direct Credit Society (SCD), enabling it to enhance its solutions and expand operations.

🇲🇽 The Mexican Government launched an online banking system tailored for Mexican nationals living in the U.S., facilitating financial inclusion and remittances.

🇧🇷 The Central Bank of Brazil announced the official launch of Pix por Aproximação, a contactless payment feature for Pix transactions, set to go live on February 28. The new functionality aims to enable users to complete instant payments by simply tapping their NFC-enabled smartphones at compatible terminals.

📰 Other News 

🇨🇱 Camila Cangas was named Vice President of Sales at Khipu.

🇧🇷 André Calabró was named CEO at Banco PAN.

🇲🇽 Ignacio de la Luz was named CFO at BBVA Mexico.

🇧🇷 Bradesco announced the rollout of proximity Pix payments for all customers through Cielo point-of-sale terminals. Additionally, the bank is piloting facial biometric payments in physical stores, aiming to enhance payment security and convenience.

🇦🇷 Xapo, the Argentinian financial company that provides accounting, bitcoin, global card, and banking services, became the first private bank to enable Bitcoin transactions via the Lightning Network, offering faster and more cost-effective crypto payments and enhancing the bank's position in the blockchain space.

🌎 Analysts predict historic growth for fintech in 2025 across LatAm, citing increasing adoption of digital payments, inclusive financial services, and regulatory advancements as key drivers.

📚 Deeper Reads

How to Recognize and Avoid Toxic Positivity

AI wearables 1.0: Was Humane’s Ai Pin too ambitious?

Fintechs are making progress in the lending field (ES)

📣 LatAm startup people who have been impacted by layoffs and recruiters looking for top talent, check out our JOBS webpage.  

Made in LatAm with 🩵 by 

Elena, Digital Innovation Manager at Banco Azteca

Daniela, Investment Associate at Cultivo

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

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