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The future of finance in LatAm & the Caribbean

December 06, 2021

Fintech investment: Kavak,Banco Alfa, Ripio, Sempli.co and more

Sep 24, 2021

By Antony Pinedo
Inversión fintech kavak

#FridayBriefing: Kavak becomes the second highest rated fintech in Latin America.

Kavak doubles its valuation to US$8.7 billion

Kavak, a Mexican fintech that finances used-car purchases, raised US$700 million in a Series E round led by US fund General Catalyst. The company, which also has a presence in Argentina and Brazil, doubled its valuation to US$8.7 billion and became the highest-valued unicorn in Latin America after Nubank.

Banco Alfa invests US$113 million in fintech E-ctare

Banco Alfa of Brazil will invest US$113 million (R$600 million) over the next three years in the agricultural credit fintech E-ctare. The investment is designed to finance improvements to the platform and allow the  fintech to increase lending.

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Cryptocurrency firm Ripio raises US$50 million

Argentine cryptocurrency company Ripio raised US$50 million in a Series B round led by blockchain specialist Digital Currency Group (DCG). Ripio, which also has a presence in Brazil, will use the funds to expand to Colombia, Mexico and Uruguay this year and to Spain in 2022.

Sempli starts new investment round

Sempli, a Colombian fintech that provides loans to SMEs, began a new round of capital and debt raising. The firm is approaching US$13 million with the participation of the Inter-American Development Bank (IDB), global investment cooperative OikoCredit, investment manager Incofin and Swiss microfinance specialist Enabling Qapital AG. The fintech plans to continue expanding its credit, insurance, and credit card offerings.

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