Hola amig@s fintech,

As we dive into this week's edition, let's take a moment to celebrate the enduring impact of literature. In a fitting tribute to one of Latin America's literary giants, Gabriel García Márquez, we mark the posthumous release of his latest novel, "En agosto nos vemos / Until August." Join us as we explore the intersection of culture, creativity, and innovation in our ever-evolving world.

Please find below this week’s front page of LatAm fintech news. If you’re reading this on the web, we’d appreciate your support by sharing and subscribing.  

💛 Until next weekend. Até a próxima!

• Lorena

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📊 Stat of the Week

Women make up 43% of the nearly 200 companies surveyed, but their representation dwindles with higher positions: 25% in legal, 11% in finance, and a mere 4% in top management. (Source).

📖  Read of the Week

The National Institute of Statistics and Informatics (INEI) of Peru, published “Gender Gaps, 2023: Progress towards equality between women and men,” pointing out that by having limited access to education, women have greater difficulties in utilizing financial services. Promoting financial inclusion through technologies, changing cultural norms, and implementing measures against gender violence, could promote free and safe economic participation.

🎙️ Podcast of the Week

💸 Venture Financing

💸 Equity

🇧🇷 Turn2C, the Brazilian smart consortium market company, raised $5 million led by Headline. 

🚀 Product Launches & Partnerships

💻 Fintech 

🇲🇽 PayJoy, the US-based consumer financing platform, and Pomelo, the Argentinean digital processing platform, announced the launch of a digital financial card for individuals without credit history in Mexico.

🇲🇽 Prometeo, the Uruguay-based open banking platform, announced the launch of "Pagos cuenta a cuenta," an embedded payment solution enabling businesses to receive payments via bank transfer in Mexico. This product aims to streamline payment processes by facilitating direct, real-time transfers to bank accounts through a single API. 

🇨🇴 Wallib, the Colombian platform using bitcoin for credit transactions, announced the launch of a hybrid currency Visa debit card, enabling transactions in bitcoin, US dollars, and Colombian pesos. The company offers a 2% bitcoin cashback on all transactions and a referral program.

🇲🇽 Nubank and Arcus, the US-based PaaS platform acquired by Mastercard, announced a partnership to launch a cash deposit and withdrawals network for its Nu account in Mexico. Nu account holders can now deposit up to $300 per transaction and make withdrawals of up to $120 daily at Soriana stores nationwide.

🇧🇷 BePay Bank, the Brazilian payment solutions company, announced a partnership with Visa to start selling Visa Direct, a set of solutions for the international movement of money, to people. 

🌎 Bit2Me, the Spanish digital access company, partnered with Rampy, the Mendoza-based builder of integrations between international companies and the financial markets of the region, to enter Argentina’s market.

📜 Policy

🇲🇽 The National Commission for the Protection and Defense of Financial Services Users of Mexico (Condusef) conducted an assessment on Electronic Payment Funds to six companies. All were well evaluated in terms of compliance with financial transparency regulations and quality of information for users. The entities with the highest rating were Mercado Pago, Spin by Oxxo, and Tu Dinero Digital, followed by Todito Pagos and Swap. The lowest rating was found in Pagofon.

📰 Other News 

🇨🇴 Finnovista, the Mexican innovation and venture capital firm, opened the application process to be part of the seventh edition of Finnovista Fintech Radar Colombia 2024. The process will be open until March 31.

🇨🇱 The Colbun Entrepreneurship Center (CEC), an initiative of the company Colbun S.A. which supports and accompanies Chilean entrepreneurs, and The Production Development Corporation (CORFO), a Chilean governmental organization, opened applications for the “Yo Puedo Mujer Emprendedora 2024” program. The process will be open until March 31.

🇧🇷 Guru Spoc, the Brazilian B2B platform that connects brokers and clients to the open insurance system, is the first of its type to receive authorization from the Private Insurance Superintendency of Brazil to operate. 

📚 Deeper Reads

Could AI have stopped the SVB crash?

LatAm neobanks surpass breakeven, signal maturing market

Sector roundup: LatAm dealmaking, Brazil cyber acquisition, El Salvador insurtech round

Fintech companies can now capitalize on affiliate marketing spend

I like having started the revolution in Fintech: Marlene Garayzar (ES)

📣 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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