Driven by fintech revenue, Mercado Libre booked $201 million in net income in the period, up from $65 million in the year-ago quarter.
Lula has a plan for Brazil. But will venture capital investors keep putting resources into the South American country's fintech sector?
Mercado Libre will hire 13,000 new jobs this year, bucking a lay-offs trend. Most of the new employees will be based in Mexico and Brazil.
Latin America’s leading event for innovation in financial services.
Latam regulators show growing interest in the technology that powers cryptocurrencies. Brazil is to begin pilot tests for its CBDC this month.
Last year, 16 fintechs were authorized in Mexico. Among them, Albo, Belvo, Todito Pagos, Mercado Pago and Femsa's Spin by Oxxo.
PicPay stated that, before reaching the market, the solution went through tests for eight months with 10,000 company and partner employees.
Instant payment system Pix has overtaken credit and debit cards as the most used means of payment in Brazil.
This is the Buk's second round of financing after having its $50 million Series A in October 2021, led by Greenoaks and SoftBank LatAm.
With the investment, Portão 3 plans to expand its team and its line of products and services, including corporate credit cards.