With this capital injection, Racional will seek to double its team in the short term and reach 100,000 users in Chile, Brazil, and Colombia.
After almost a year in the back seat, the fintech law in Chile is now approved in Congress.
Chile's new fintech law will provide an incentive for other regulators in the region to move forward with similar frameworks, analysts say.
Itaú joins the digital banking frenzy with "Itu," a digital banking initiative in Chile offering a virtual account and a debit card.
Chile's fintech Migrante to acquire a motorcycle loan startuup in Colombia. It also changed its name to Galgo, or "greyhound" in Spanish.
Kredito was founded in 2018 to create a solution that would provide "fair interest rate" loans to startups and small-cap companies.
Toku raised $7 million to expand digital collection services in Latin America. The fintech will boost its current Mexico strategy.
Several LatAm countries moved forward in 2021 with regulatory initiatives seeking to promote competition and data sharing in the industry.