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The future of finance in LatAm & the Caribbean

September 20, 2021

Softbank invests in Konfio and Atom; Colombian neobank Iris unveils strategy; Brazilian banks call for level playing field

Jun 25, 2021

By Antony Pinedo
konfio-atom-softbank
This week's key fintech and digital banking news: Investments for Konfio and Atom Finance; Iris, a neobank launched by a traditional Colombian player, shares its plans; Brazil’s biggest banks call for an equal regulatory footing

 

Konfio raises US $ 125 million from Lightrock, Softbank and VEF

Konfio, a Mexican fintech that lends to SMEs, raised US $ 125 million in a round led by Lightrock and with the participation of existing investors including Softbank and Vostok Emerging Finance. The 7-year-old start-up plans to use the capital to acquire other technology companies to grow its business.

Read the full note here.

Atom Finance raises $ 28 million in Series B

Atom Finance, a US wealthtech, raised US $ 28 million in its series B investment round led by Softbank’s Latin American fund. General Catalyst and Base Partners funds also participated in the investment. With this money, Atom Finance aims to boost the growth of subscribers, expand headcount and grow its B2B offering.

Read the full note here.

Iris, a neobank launched by Colombia’s Financiera Dann, sets out product roadmap

Colombian lender Financiera Dann Regional aims to reach more than 6,000 small business clients in the next 12 months with the launch of Iris, a neobank focused on SMEs. In addition to offering bank accounts, Iris plans to roll out digital loans, app-based payments and a pre-paid business card, the startup’s CEO told iupana in an interview.

Read the full note here.

Finerio Connect wins LatAm Visa Everywhere Initiative

Finerio, an API development fintech, was chosen as the Latin America and Caribbean winner of the Visa Everywhere Initiative award. The 5-year-old fintech won US $ 10,000 and goes on to face other startups in the world championship in September.

Read the full note here.

See also: LatAm insurtech shifts focus to operational innovation

CIAB 2021: Brazil’s biggest banks call for level playing field

Chief executives from Brazil’s largest banks say the country’s Central Bank has enhanced the financial system and improved competitiveness with its regulatory innovations. But they warned against the rise of regulatory asymmetry between players.

Read the full note here.

CIAB 2021: Brazilian digital banks attract new customers amid pandemic

Brazil’s digital banks are taking advantage of the swift change in consumer finance habits since the onset of the pandemic, according to company CEOs speaking at Ciab 2021. And with the spread of digital services, the profile of digital banks customers is no longer composed of young people, they added.

Read the full note here.

Citibanamex and Mastercard launch new credit card

In Mexico, Citibanamex and Mastercard launched a credit card labelled “Simplicity”, which offers new security measures for making online transactions. Simplicity replaces the traditional back-of-card CVC in favor of an app-based dynamic code.

Read the full note here.

See also: Payments startups feature among latest fintech profiles in iupanaConnects

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