This week’s top digital banking and fintech news: Nubank is rumored to be preparing a US IPO; Fintechs Merama and Warren raise big investment rounds.
The Brazilian digital bank Nubank is preparing for an initial public offering (IPO) on the New York Stock Exchange this year, according to an anonymous source cited by Forbes. A January fundraising round valued Nubank at $25 billion.
Merama, a Mexican e-commerce startup, has closed a US$ 60 million series A round, a huge sum compared to typical rounds at that stage in Latin America. At the same time, Merama has borrowed US$ 100 million in debt. The startup, which seeks to bring together e-commerce companies in Latin America, hopes to establish its first commercial partnerships very soon.
Warren, a Brazilian investment fintech, has closed a US$ 56 million series C (BRL 300 million), with participation of Quartz, Kaszek, QED, among others. With the proceeds, Warren will seek to double the volume of assets under management and increase the number of clients by 50%.
Mercado Libre’s payments arm, Mercado Pago, has received authorization from Colombian regulators to operate as a financing company. As a result, Mercado Pago will be able to sell into the Colombian market digital financial solutions that it already offers in other Latin American countries.
The Argentine bank has enabled a digital tool to support the rental of any type of property, simplifying real estate procedures to obtain a guarantee, as well as allowing virtual access to financial support.
Revolut, the UK-headquartered challenger bank, has launched an app for the Peruvian market and is accepting sign ups to its waitlist. The fintech appears to be testing demand in the market before committing further resources. The company could not be reached for comment.
Are you subscribed to our weekly newsletter? Click here to do it. Every Monday we will send you a special report on the fintech sector in Latin America. You can also follow us on LinkedIn and Facebook.
Leave your details to receive our Monday briefing on the key news in digital banking, fintech and payments in Latin America.