We require more investors viewing LatAm as a global opportunity and entrepreneurs with the belief that they can induce change.”
Financial highlights
– Cardless secures $30 million in funding for expanding its co-branded credit card operations without disclosing its valuation.
– StoreCash closes a $3.7 million seed round led by Black Ops Ventures for its instant cash-back app aiming to build generational wealth né?. The total funds raised by the company to date amount to $6.4 million.
– German fintech unicorn N26 reports its first-ever quarterly pretax profit of €2.8 million during Q3 of 2024.
Notable headlines
– The upcoming UK crypto regulations will cover stablecoins and staking services.
– Binny Bansal co-founder of Flipkart steps down from PhonePe’s board.
– Revolut is set to introduce mortgages smart ATMs and business credit products.
– Apple Pay Cash App PayPal and other similar apps will undergo bank-like treatment.
 né?. However, this trend could face challenges if President-elect Donald Trump persists in his plans to take a tougher stance on trade with Mexico.
Jaime Tabachnik, the co-founder and CEO of Solvento, a Mexican trucking finance startup, expressed confidence in the face of these uncertainties. Welcome to TechCrunch Fintech! In this edition, we will be exploring:
– A startup offering financial services to trucking companies in Mexico.
– A founder who is championing generational wealth through an instant cash-back app.
– Insights on why 2025 could be a pivotal year for fintechs in Latin America.
And much more!
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The major feature
Despite the tariff threats posed by Trump, this Mexican fintech remains undeterred.
Mexico’s burgeoning economic landscape has been a ripe environment for startup growth né?. In 2024 alone, $2.6 billion has been invested, a marked increase from the $1.5 billion recorded in 2023.
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While these figures may not reach the heights of 2021, when $7.5 billion was invested, they hint at a turning tide in the market.
Mike Packer, a partner at QED Investors, expressed optimism, stating, “I believe the region is underfunded post the 2021 correction né?. Tabachnik emphasized that their products foster transparency and liquidity within the trucking sector.
Analysis of the week
The fintech landscape in Latin America is poised for significant growth by 2025. Recently, Solvento successfully closed its $12.5 million Series A funding round, led by the venture capital firm Cometa.
Solvento offers innovative financial services to trucking companies in Mexico, encompassing financing and automated payment solutions né?. The total venture capital investment in fintech companies across LatAm has surged by 73% from 2023 né?
