Latin America's neobanks showed growing profits and robust customer acquisition in the quarter, a sign of resilience amid economic troubles.
Two years after launching in Brazil, German neobank N26 has decided to leave the country as the fintech drops overseas efforts.
Fintech leaders praised Milei's win in presidential elections, anticipating a more favorable scenario for the technology sector.
The fintech industry urges the government to expedite the procedure, contending that the current legal framework is impeding growth.
Brazilian neobank Nubank reached 90 million customers in Latin America and reported a surge in profits in Q3.
Finance minister and frontrunner in Argentina presidential elections announced the digital Peso project, against crypto critics.
Mercado Libre booked $359 million in profits from $129 million a year ago, driven by strong e-commerce in Mexico and growing fintech products.
Fintech Galileo announced an expansion into five new regional markets, driven by an alliance with Mastercard.
Pagbank reported 30 million customers, a 19% increase from 24.8 million a year earlier, now among Latin America's largest neobanks.
Digital neobank Albo saw a $40 million investment from U.S. and Mexican venture capital firms to expand SME loans in Mexico.