Welcome to the LatamList roundup, your bi-monthly summary of the Latin America startup scene.
Activity in Colombia and Mexico picked up, with fintech dominating the news for the first half of May. Here are the product launches, partnerships, and expansions we saw in the last two weeks.
Launches
- Colombian bank Bancolombia launched Wenia, a crypto trading platform including a new asset pegged 1:1 to the Colombian peso, aiming to diversify financial services and meet the growing demand for digital solutions. Read more on Contxto.
- Littio, a Colombian fintech, launched a US bank account through its app, allowing Colombians to easily manage finances in dollars and send remittances at low costs. Read more on LatamFintech Hub.
- Brazilian neobank PicPay launched a digital account for minors connected to parents’ accounts via their app, allowing parents to set limits, monitor transactions, and schedule automatic allowances. Read more on LatamFintech Hub.
- Uruguayan crowdfunding platform Crowder announced it will start operating as a private investment platform at the end of May, following approval from the Central Bank of Uruguay in January 2024. Read more on LatamFintech Hub.
Partnerships
- BBVA Mexico’s payment platform Openpay partnered with fintech Kueski to expand its electronic payment options through payment alternatives including credit and debit cards, transfers, cash payments, and BNPL options. Read more on LatamFintech Hub.
- Argentinian paytech Tapi partnered with Xaggo to provide cross-border payment experiences from the US to Latin America, enabling users to pay for services, recharge phones, and buy gift cards. Read more on LatamFintech Hub.
Other
- Mexican fintech Plata Card secured a $100M credit line from Fasanara Capital to invest in growth to make personal finance services accessible in Mexico. Read more on LatamFintech Hub.
- Colombian fintech RapiCredit announced an upcoming agreement to enter the Peruvian market, aiming to expand its operations and promote financial inclusion with its loan products in Peru. Read more on LatamFintech Hub.
- Stripe, the global financial infrastructure platform, launched a report about the future of the subscription market in Latin America, which is expected to exceed $30bn by 2025. Read the report here.
