LatAm List – Wenance, an Argentine fintech startup, recently appointed Andrés Vacarezza as its new CFO, a position previously held by Rafael Soto. Vacarezza’s predecessor left the company to work in business development at the largest digital bank outside of Asia, Nubank.
Vacarezza has more than 20 years of experience in local and international financial markets. He previously held the position as CEO at Flybondi, Argentina’s first low cost airline, and also worked in Bioceres, an ag-biotech company, where he was in charge of financial management and strategic transactions including IPO processing.
“Technology creates new paths, it adds value to people and industries through new products and services. Fintechs present an opportunity for growth in the finance ecosystem, which up until recently was in the hands of incumbent companies, and where there’s an enormous opportunity to promote financial inclusion and education. It’s an exciting challenge to join an industry that is rapidly growing and projects itself globally,” said Vacarezza.
As for Nubank, it remains silent on its strategy in Latin America. However, its arrival in Argentina would certainly stir up competition in digital and traditional banking. After Tencent’s $180M investment, Nubank’s valuation has skyrocketed to $4B. Tencent also recently invested in Argentina’s neobank, Uala.
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