For Raízen, the acquisition of Payly represents the first step in developing this payments unit — and a new source of revenue.
According to Belvo, the new product will function as a gate for users to initiate payments directly inside third-party apps.
A decline in the number of neobank downloads in Brazil raises concern about saturation. Fintechs pivot profitability as competition heats up.
The co-founder and head of Pix, Brazil's instant payment tool, talks about how the Central Bank was able to achieve a scale of around 130 million users in just two years.
According to Creditas' recently released figures, the company recorded a loss of $26 million, a 60% drop from the same period in 2022.
Saque y Pague will seek to strengthen its regional network and install 2,000 of its self-service terminals in the Colombian market.
Creditas, a provider of online secured loans in Brazil, has raised $16 million from the asset-backed securitization market and will use the proceeds to fund auto loan refinancings; the firm partnered with Empirica Investimentos Gestao de Recursos Ltda to launch the securitized investment portfolio, FIDC Empirica Creditas Auto; Creditas seeks to capitalize on an auto loan refinancing market opportunity that has seen increased risk from higher defaults with decreased lending from traditional banks; Brazil reports secured personal credit accounts for 1% of the country's outstanding loans; Creditas plans to offer auto refinancing at monthly rates of 1.99% to 3.65% for an annual rate of approximately 37% which compares to bank rates annually of 120%. Source
With payroll lending, Nubank blazes a trail into secured lending, an asset that bears less risk than credit cards and individual loans.
Creditas is an online secured loan provider in Brazil; the company has announced the release of its 2017 Brazil Lending Market Report which provides an overview of the country's trends in consumer lending; also reports on market metrics including interest rate spreads and outstanding debt by lending categories. Source
Open Finance completed its first 2 years in Brazil with 15 million users. The challenge, however, is to grow beyond the specialized audience.