8 January, 2021
N26, Revolut take steps into LatAm, Creditas buys Bcredi

#TopNews: N26, Revolut take steps into LatAm, Creditas buys Bcredi, and more: The key fintech and digital banking news this week

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By Fabiola Seminario

 

Creditas acquires mortgage lender

The Brazilian-Spanish lending unicorn has just bought Bcredi, a digital platform also from Rio that offers mortgage loans with guarantee. With the acquisition, Creditas – which recently announced its intention to go public – aims to create a real estate ecosystem for companies that wish to offer these products to their customer base.

N26 gets Brazilian operating license

Two years after announcing its intentions to land in Latin America, the German neobank N26 received official authorization to operate in Brazil. The fintech obtained a license from Sociedade de Crédito Direto (SCD) that will allow it to grant loans, financing and buy accounts receivable.

Mercado Libre expects to raise US $ 1bn in inaugural bond issue

The largest e-commerce retailer in Latin America is set to sell at least US $ 1 billion of dollar bonds in the public market. Mercado Libre is expected to issue its inaugural debt in two tranches that will mature in five and 10 years, according to Moody’s Investor Service, which said it will rate the papers on a stable outlook.

See also: Payments, open banking and regulation: priorities for fintech and digital banking 2021

Revolut looks to enter Mexico

Revolut, a British neobank, is looking for a Head of Operations in Mexico, as part of what could be its expansion strategy in Latin America. Although the news has not yet been confirmed by the European fintech, the job announcement on LinkedIn indicates that the person in charge will have to lead and execute the launch in that country.

Puerto Rican lender overhauls its digital banking system

The Puerto Rico Federal Credit Union is planning to upgrade its digital banking system with the incorporation of Fusion Digital Banking, a platform from Finastra – a global provider of digital financial solutions. With the implementation, the entity will be able to deploy a modern bilingual (Spanish and English) interface, the companies said.

E-commerce in Mexico grew 32% last year

At the end of 2020, electronic commerce in Mexico grew 32%, reaching more than US $ 18 billion, an increase of more than US $ 4 billion compared to online sales in 2019, according to Statista.

See also: Most read in 2020: Fintech regulations, e-commerce, and pandemic impact

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