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The future of finance in LatAm & the Caribbean

June 16, 2021

LatAm Fintech Snapshot: May 2019

Jun 7, 2019

LatAm Fintech News Snapshot

Thiago PaivaIn our monthly analysis of LatAm fintech news, Thiago Paiva looks at M&A, investments, trends, partnerships for the region’s startups.

LatAm fintech investment reached a new 2019 peak in May, with Mexican payment startup Clip clinching the largest round so far this year.

 

In May, LatAm’s fintech industry attracted its highest monthly investment volume for the year. Through just five deals, investors put $105.5 million to work in LatAm fintechs.

One investment, in particular, stood out.  The payment fintech Clip raised an impressive US$100million investment round from Softbank and General Atlantic. This is not only the largest fintech investment so far this year in the region, but also the first investment by Softbank in Mexico, bringing more attention to this fast-growing market.

With this investment, Mexico led the region in May, raising 95.6% of the total capital into LatAm fintech. Another worth mentioning deal was the Brazilian HR/fintech startup Xerpa, which raised a Series A round of US$4million from a selected group of investors: Kaszek, QED, and Redpoint e.Ventures.

After I complained last month about a scarcity of fintech exits, this month we had the acquisition of Mexican Creze by Polygon Fintech for an undisclosed amount and the Brazilian PagBem by the financial institution Omni for US$24.4million

Also, Nubank said would be expanding to Mexico soon. The announcement was expected – but it probably anyway scared the local banks. It will be using the brand name of Nu in Mexico.

Although this month was a good one for investments and exits, I think the best of 2019 is still ahead. Already in June it’s reported that Softbank is investing US$200million in Brazil’s Creditas and General Atlantic is in advanced talks with Neon, large rounds for these Brazilian fintechs.

Last, but not least, I missed the Bcredi round by e.Bricks (undisclosed) and the Tecnisys round by Riverwood Capital (US$50million) last month.

Well, let’s jump into the relevant fintech deals and news of May, and stay tuned to the next Fintech Snapshot next month! And you can check out what happened in April in this post

 

Main Fintech Investments

M&A

Regulations

Partnerships

Relevant Moves

Thiago Paiva is a partner at Liquia Digital Assets, an investment bank for the digital assets economy. He is passionate about the intersection of finance and technology.

He has 8+ years working with startups and innovation, investing in more than 60 startups through global accelerators Wayra (Telefonica’s global accelerator) and Startupbootcamp Fintech. He worked closely with more than 20 fintechs from 8 different countries for the past five years.

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