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The future of finance in LatAm & the Caribbean

July 24, 2021

Rappi launches bank in Brazil; AlphaCredit nabs new capital

Jan 15, 2021

By Fabiola Seminario
Rappi lanza banco en Brasil

Here is the key fintech and digital banking news this week: Rappi launches a bank in Brazil; AlphaCredit receives capital for US$ 25M.

 

Rappi launches a bank in Brazil

Rappi, the Colombian super app, has launched a digital bank in Brazil, RappiBank. The first product is a loan for companies associated with the platform, and during 2021 the bank will roll out credit cards and accounts. In parallel, Rappi has requested authorization from the Central Bank to act as a payment institution and SCD (Sociedade de Crédito Direto), and to be able to lend its own money.

AlphaCredit closes financing for US$ 25 million

Mexican lending fintech AlphaCredit has closed a structured financing agreement for US$ 25 million with Morgan Stanley Senior Funding. The loan will help it expand in Mexico and Colombia.

Argentine startup Pluggy seeks to score its first million dollars

Pluggy, a startup that offers open banking infrastructure to connect programmers, banks and companies, says it is on track for revenue of US$ 1 million, with a model that facilitates access to information through APIs.

See also: Payments: Contactless adoption accelerates with pandemic

Banco Ripley Chile has a new CTO

Claudio Rodrigues Oliveira, the former manager of digital transformation of Interbank Peru, has just been recruited by Banco Ripley de Chile to occupy the position of chief technology officer.

Caribbean banks move toward digital currencies

A group of investment banks in The Bahamas, Barbados and the Cayman Islands, has partnered with Bitt, a fintech company, to facilitate cross-border transactions based on digital currencies on its network in the Caribbean.

See also: Carlo Enrico: “Trust is the new currency”

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