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The future of finance in LatAm & the Caribbean

September 28, 2021

Itaú invests in Monkey Exchange; Grupo Modelo ventures into fintech

Feb 5, 2021

By Fabiola Seminario
Itaú
#TopNews: The key fintech and digital banking news this week: Itaú invests in Monkey Exchange; Grupo Modelo bets on SME fintech; and more

 

Itaú invests in fintech financing for SMEs Monkey Exchange

The investment arm of Brazil’s biggest bank, Itaú Unibanco, has invested in Monkey Exchange, a Brazilian platform that makes it easier for small and medium-sized companies to finance themselves through supply chain finance and factoring. Kinea Investimentos led the US $ 6 million round together with Quona Capital. With the bet, the bank hopes to “fill gaps in the offer” of services for SMEs.

Corona beer brewer launches fintech

Grupo Modelo, a major Mexican brewer and the company behind brands such as Corona and Pacífico, launched “SíHay”. The fintech initiative is a platform for SMEs that will provide digital financial solutions such as short and medium-term loans, apps for remote payments, card payment terminals, among others, to merchants.

Visa wants to include cryptocurrencies in its payment system

Visa is studying incorporating cryptocurrencies as a payment method within its platform, reported Alfred Kelly, CEO of the transaction processor. Although he did not provide details on the inclusion, the director of the multinational said that the company would create its own interoperable financial solutions to facilitate the use of electronic money.

See also: Closing the gender gap, a pending task in financial inclusion

Resuelve tu Deuda captures US $ 24M for expansion

The Mexican credit repair company Resuelve tu Deuda closed an investment for US $ 24 million with the participation of Vulcan Capital and Freedom Financial Network. With the new amount, the fintech hopes to continue expanding its operations in Latin America and Europe.

Flink México closes round for US $ 12M

The Mexican fintech for investment in the stock market concluded its Series A round for US $ 12 million, co-led by Accel and ALLVP. The platform, which also offers a virtual wallet with a debit card, has already reached one million users.

See also: Pix takes off in Brazil, bringing opportunity and competition

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