LatamList – Belvo, an open banking platform from Barcelona, raised $10M from Founders Fund and Kaszek Ventures. The investment is the second funding round for the new startup, bringing total funding to $13M since launching 12 months ago.
Belvo is an online banking API platform that can access and interpret end-user financial data to build more efficient financial service products in Latin America. Many major neobanks in Latin America use Belvo’s technology to connect bank accounts to their online apps.
As the company is only a year old, the new funding will be invested in Product and Business Development hires, focusing on growing its 25 employees. Belvo aims to work with leading fintech across Latin America, such as neobanks and personal finance services.
The startup raised funding from some of Latin America’s biggest investors, including YCombinator, MAYA Capital, Venture Friends, and Nubank’s co-founder and CEO David Vélez. Belvo also received investment from financial software developer Latinia.
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