Mexican fintech Belvo raised a $15M round from Quona Capital, Kaszek, Kibo Ventures, Future Positive, Citi Ventures, and Y Combinator.
Belvo empowers financial institutions to access, analyze, and exchange customer financial data, initiate direct bank-to-bank payments, and deliver personalized financial products
Belvo will use the funds to launch recurring payments products like Pix Automático in Brazil, improve the Biometric Pix and the Direct Debit products, and invest in AI to enhance user segmentation, fraud prevention, and faster payment processing applications.
“At Belvo, we’re building the most advanced platform to help financial institutions and innovators make the most out of Open Finance to power their businesses. This new investment will enable us to continue to innovate, develop cutting-edge infrastructure, (and) scale our AI capabilities,” said Belvo’s co-founders and co-CEOs Oriol Tintoré and Pablo Viguera.
Founded in 2019, Belvo serves over 150 clients in Latin America, including Banamex, BBVA, Bradesco, Creditas, Mercado Libre, and Santander.
Read more on Belvo.