Buy Now Pay Later startups in Latin America could provide a way for lenders to finally reach the underbanked.
Creditas aims to reach breakeven in 2023. It has reduced losses for five straight quarters and is repricing the portfolio with higher rates.
This is Visa's second offer for the Brazilian fintech. Previously, the American company offered $1 billion to acquire the startup, but the offer was refused.
Mercado Libre booked $359 million in profits from $129 million a year ago, driven by strong e-commerce in Mexico and growing fintech products.
Nubank, the largest digital bank in Latin America, officially launched Nucoin. It is a free-of-charge token that rewards the most loyal users.
Banco Bradesco, a massive player in Brazil's loan market, announced plans to expand in Mexico, Latin America's second-largest economy.
Facing tighter financing conditions, several financial technology companies in Latin America have accelerated mergers and acquisitions plans.
Last month, Geopagos left its bootstrap status and took $35 million in funding to grow aggressively into Brazil.
It was a turbulent capital-raising year. What do experts see in the sale rack and what are the chances of coming home a happy shopper?
Low multiples could lead to strategic fintech M&A as companies with abundant capital take the opportunity to scoop deals.