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The future of finance in LatAm & the Caribbean

Valoreo raises investment; Mastercard supports Bahamas digital currency

Feb 19, 2021

By Fabiola Seminario
#TopNews: Key fintech & digital banking news this week: Mastercard Supports Bahamas Digital Currency; Valoreo closes investment; and more


Valoreo raises seed investment for US $ 50M

Valoreo, a Mexican startup which enables e-commerce, received a seed investment for US $ 50 million, one of the highest of its kind in Latin America, with the participation of Upper99, and representatives of Mercado Libre México and Jüsto. The startup is mainly dedicated to buying brands that sell online through Mercado Libre, Amazon and Linio.

Mastercard and Bahamas launch digital currency card

Mastercard’s “Bahamas Sand Dollar” prepaid card offers residents of the Caribbean island the option of instantly converting the digital currency issued by their Central Bank to US dollars, to pay for goods and services anywhere in the world. Mastercard is working with Island Pay, a local payment processor, which allows the conversion of currencies, including electronic money.

Banco de Bogotá issues its first digital mortgage

Banco de Bogotá and Colombia’s Housing Ministry has digitized end-to-end the mortgage lending process, including the preparation of the property deeds. Colombian startup Habi worked on the pilot for the country’s first digital mortgage.

See also: Competition heats up among Argentina’s digital wallets

PayPal seeks to be a financial ‘super app’ worldwide

PayPal says it aims to gather all financial applications in a single app. Its strategy would be based on the association with traditional entities, and thus enable savings accounts, deposits, investments and more products, according to Dan Schulman, CEO of PayPal.

Bitt introduces new COO

The Barbadian fintech specialist in digital currency management Bitt, welcomed Laurent Féral-Pierssens, its new director of operations, who had already served as the startup’s strategic advisor since last year.

See also: Open banking in Colombia is getting ready to take off

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