The key fintech and digital banking news this week: Brazilian digital startup C6 Bank adds global investment functions; Bolivia’s Banco Economico launches QR payments; Brazilian fintech Cora raises record-breaking Series A round, and more
C6 Bank now supports investments outside of Brazil
The Brazilian startup C6 Bank has launched a new global account that allows investments to be made internationally, allowing users to diversify their capital with assets abroad. The minimum investment required is US $ 50 thousand.
Cora closes investment round for more than US $ 26M
The Brazilian SME lending fintech Cora, has closed its Series A investment round for US $ 26.7 million, led by Ribbit Capital, a venture capital firm from Silicon Valley, and with the participation of other investors such as Kaszek Ventures, QED Investors and Greenoaks Capital.
Banco Economico launches QR payments in Bolivian retail chain
The Bolivian bank Banco Economico launched QR payments funcionality in local supermarket chain Hipermaxi, as an alternative to paying in cash or with a card. The innovation, developed in conjunction with the Tesabiz payment gateway, allows the mobile app of any bank to carry out the operation.
Itaú and Rappi team up in Chile
Banco Itaú Chile and Rappi have formed a strategic alliance to offer financial services in the country. Details regarding the products and services they will offer are expected in the third quarter of this year. The deal follows Rappi’s partnerships and join ventures with banks in several other countries, including Mexico, Peru and Colombia.
Mercado Libre bets on credit in Mexico
The e-commerce platform announced that this year it will invest US $ 1.1 billion in its operations in Mexico, with the aim of boosting its fintech arm which offers consumer credit, in addition to expanding its storage space.
Brazil gives the green light to WhatsApp Pay
The Central Bank of Brazil has authorized payments and money transfer operations via WhatsApp. The messaging application will compete in the local payment market and offer this functionality to its 120 million users in Brazil, its second largest market globally.
Key Fintech & Digital Banking News of the Week: CloudWalk and a55 Raise Capital; QED Investors launches a fund in LatAm.
Financing big-ticket purchases through “buy now, pay later” is a difficult model to get right in Latin America
This week’s key fintech and digital banking news
Messaging app with “gigantic power” gears up for Brazil entry
This week’s top: Nubank is rumored to be preparing a US IPO; Fintechs Merama and Warren raise big investment rounds.
Access to post-seed stage capital remains a challenge as the region’s ecosystem matures
- AI, cultural change and open banking: LatAm bank tech priorities in 2020
- IDB to quantify fintech’s inclusion goals, boost regional fintech coordination
- Mexico’s Fintech Law: Open banking rules delayed
- Brazil’s Quod brings together AI, big data, for credit risk analysis
- Open banking: Regulations and technology push change in LatAm
- In beta, Itau’s Iti has hundreds of thousands of customers