Hola amig@s fintech,

On March 26th, we're hosting an exclusive fintech & Web3 reception in Buenos Aires, Argentina, in partnership with Sphere, Utila, Lumx, Arex & Cámara Argentina Fintech. This side-event coincides with the  Merge Buenos Aires Conference (March 24-26), which connects Europe and LatAm through Web3, and will feature major industry brands and leaders.

🩵Until next weekend. Até a próxima!

• Lorena

🌐 TWIF Community

🗓️ Events

🗣️ Channels

📊 Stat of the Week 

Colombia's digital financial system is undergoing significant restructuring with the incorporation of new players. Since 2020, six digital financial entities have been authorized: Lulo Bank, Ualá, Bold, Nu Colombia, Mercado Pago, and RappiPay. There are four more licenses in process and two already approved. This expansion reflects the growing adoption of digital financial services in the country, supported by a regulatory framework that promotes competition and innovation (Source).

📖  Read of the Week

The 2024 National Financial Inclusion Survey (ENIF), conducted by CNBV and INEGI, shows that 80% of Mexican adults now have at least one formal financial product, the highest level recorded since 2015. Financial well-being increased by 8 points since 2021, with notable improvements among women and rural populations. While some gaps have narrowed, Indigenous communities and rural areas still face limited access and digitalization. Cash usage remains high (85.2%) but is declining, and banking app usage rose from 54.3% to 69.1% in three years, signaling growing digital adoption, although financial education remains an area in need of reinforcement.

🦉 Post of the Week

🎙️ Podcast of the Week

💸 Venture Financing

💸 Equity

🇦🇷 Ualá, an Argentinian personal finance management app, raised an additional $66 million, extending its Series E round to a total of $366 million. This extension included participation from TelevisaUnivision, the largest Spanish-language media conglomerate globally. 

🇲🇽 KredFeed, a platform specializing in financing for small and medium-sized enterprises (SMEs) in the manufacturing sector, closed a $1.5 million seed round. Investors include Carabela, Techstars, 2045 Ventures, The Pitch Fund, AngelHub, Newlin Ventures, and Cacao Capital.

💵 Debt 

🇲🇽 Tala, the US-based microcredit company, secured a $150 million line of credit issued with funds managed by the investment firm Neuberger Bermanto to expand operations in Mexico. 

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☯️ Exits

🤝 M&A - Fintech

🌎 Lumu Technologies, the US-based cybersecurity startup with strong presence in LatAm, acquired Maltiverse, the Spanish intelligence company, to enhance its real-time cyber threat detection capabilities. 

🇵🇷 Evertec, the Puerto Rican payment processing company, acquired Mexican cloud infrastructure company Nubity to expand into new markets across LatAm. The acquisition will allow Evertec to offer integrated cloud-based payment and tech solutions.

🇲🇽 ComunidadFeliz, the Chilean proptech platform for condominium management, merged with the Mexican startup Swappi to modernize building administration across LatAm. The union will allow both platforms to integrate features and improve transparency and efficiency in property management.

🏦 M&A - Banks, Insurers & Incumbents

🌎 Nazca and Bridge LatAm, two prominent Latin American VC firms, announced their merger, creating a new powerhouse under the name Nazca Bridge. The firm will manage over $300 million in assets and aims to become the go-to fund for early-stage startups in the region.

🚀 Product Launches & Partnerships

💻 Fintech

🇵🇪 eXp Realty, the US-based cloud-based real estate brokerage platform, announced the launch of its operations in Peru. The company offers Peruvian agents equity ownership, high commission splits, and access to a global network of 83,000+ professionals. 

🇦🇷 Buenbit, the Argentinian crypto and investment platform, announced the launch of a new “Recurring Purchases” feature that allows users to automate crypto and stock investments using a dollar-cost averaging (DCA) strategy. 

🇦🇷 Ualá, the Argentinian neobank offering digital banking and investment solutions, announced a raised the cap on its high-yield remunerated account to $1,000 while maintaining a 32% annual interest rate with daily returns. Users can also access additional investment products like mutual funds, dollar instruments, and stocks via the app.

🌍 Bamboo, the Uruguay-based cross-border payments platform, announced a partnership and investment from StoneX Payments, the global foreign exchange and payments provider. The partnership aims to improve payment reliability, FX pricing, and settlement speed for global merchants transacting in LatAm. 

🌍 Ripple, the US-based blockchain payments infrastructure provider, announced the expansion of its XRP-powered On-Demand Liquidity (ODL) services to Brazil, Mexico, India, and Southeast Asia. 

🌍 dLocal, the Uruguayan cross-border payments platform for emerging markets, and Temu, the global e-commerce player, announced a partnership aimed to enhance localized payment experiences in 14 countries across LatAm, Asia, and Africa. dLocal and Belmoney, the European remittance-as-a-Service provider, also announced a partnership aimed to enhance remittance services across emerging markets. 

🌍 LoanPro, the US-based lending infrastructure provider, and NovoPayment, the US-based digital banking platform for LatAm, announced a partnership to boost credit and lending capabilities across the region. 

🌍 Xapo Bank, the European crypto-friendly digital bank, announced the launch of  Bitcoin-backed loans of up to $1 million, allowing users in Europe, Asia, and LatAm to access USD liquidity without selling their BTC.  

🏦 Financial Services & Banking 

🌍 SALT Venture Partners, the US-based investment firm focused on healthcare and education, announced a Global Operations Center in Bogotá to scale its Plug & Scale Platform and support over 90 partner institutions across the US and LatAm. 

🌍 Digital Exchange, the digital arm of El Salvador’s stock exchange and a blockchain-based asset platform, announced it became the first stock exchange-backed digital asset service provider in LatAm. The platform enables issuance, trading, and custody of tokenized assets. 

📜 Policy

🇦🇷 Argentina’s financial and securities regulator (CNV) issued new guidance clarifying the roles of banks and fintechs in cryptocurrency operations. The CNV emphasized that entities facilitating crypto transactions must adhere to anti-money laundering standards and operate with transparency. The regulator aims to define clearer boundaries for the financial ecosystem amid growing adoption.

🇧🇷 Nuvei, the Canadian fintech payments company, received authorization from Brazil’s Central Bank to operate as a payment institution (IP). This regulatory green light allows Nuvei to expand its local operations and offer services including payment processing and issuing in Brazil, reinforcing the country’s position as a fintech gateway in LatAm.

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📰 Other News 

🇨🇴 Elsa Noguera was named part of the Board of Directors of Davivienda Bank.

🇵🇪 UTEC Ventures, the accelerator arm of UTEC (Universidad de Ingeniería y Tecnología) in Peru, launched a new program offering investment of up to $25,000 for Peruvian startups. The initiative aims to support early-stage ventures with technical guidance, mentorship, and access to its innovation ecosystem to help them scale regionally.

🇲🇽 Mexico's SOFIPOs (Sociedades Financieras Populares), financial entities serving underserved populations, are experiencing a rise in resource acquisition, growing by over 7%—driven by the entry of tech-driven players. Companies like Kubo Financiero, Supertasas, and YoTePresto are introducing digital solutions, expanding access and modernizing the sector.

🇨🇴 SURA and Microsoft announced a strategic alliance to create an Artificial Intelligence and Omics Center (“Centor Ómico”) in Colombia. The partnership will leverage Microsoft's Azure cloud and AI capabilities to process complex biomedical data, with the goal of driving personalized medicine and innovation in the region’s healthcare system.

🌎 Google is preparing a major update for Android phones that includes AI-powered summaries of calls, messages, and voice notes. The feature will first roll out in the U.S. and is expected to arrive in Colombia in the second half of 2025. 

🇵🇷 Mastercard announced the launch of Apple Pay for its cardholders in Puerto Rico. This move brings more secure and contactless payment experiences to the island, aligning with Mastercard's strategy to expand digital payments in LatAm and enhance consumer convenience.

📚 Deeper Reads

Rising demand for hyper-personalization in digital finance

The Power of Strategic Fit

Stablecoins: The Silent Revolution in Trade and Payments (ES)

The future of payments in Latin America (ES)

More banks, farther away? Mexicans take up to 38 minutes to reach a branch (ES)

How DeFi is Reshaping the Global Banking Industry (PO)

📣 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, 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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