Fintech Belvo raises $43M for open finance

LatamListBelvo, a Mexican fintech, raised a $43M Series A funding round led by Future Positive, Kibo Ventures, and FJ Labs. Various angel investors, including the co-founder of Rappi and the CEO of Nubank, participated in the round.

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. The startup previously raised a $10M funding round in 2020, and currently operates in Mexico, Colombia, and Brazil.

“Our rapid growth in recent months enabled us to raise this capital, which is one of the largest Series A rounds in Latin America. It will help us to continue growing in the region,” said Pablo Viguera, co-founder of Belvo.

In particular, Belvo will use the new funding to increase its network of financial institutions. The startup is also looking to launch new financial solutions for the banking sector and expand across Latin America.

Read more on Forbes.

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