Mendel plans to use the resources raised in this round to double its growth and accelerate the development of its platform.
Fintechs in Mexico take on the challenge of competing with banks, in a country that lags most Latin American peers in financial inclusion.
Nubank's second product in Mexico was well received. Country manager Ivan Canales discusses the market strategy with Fintech Nexus.
Five years since Mexico passed the fintech law, industry leaders call for an overhaul to the current regulation.
Payments fintech Pacto raised $4M from VC investors to expand its point-of-sale software to restaurants and bars in Mexico.
Despite high interest rates and risks of a reccesion, many BNPL fintech providers now vie to offer loans to the underbanked in Mexico.
Walmart Mexico announced the acquisition of payments startup Trafalgar to strengthen its digital wallet initiative.
Fairplay provides technology and financing solutions for e-commerce businesses and marketplace sellers in Mexico.
The bill is aimed at cracking down on illegal activity around cryptocurrencies and also reduce operational risk for fintech companies; the central bank will be responsible for the new regulations if they are signed into law; the proposed law also encourages open banking through APIs although other details are not known until the secondary laws are unveiled by regulators; Mexico is currently a fast growing market for fintech according to recent data from Deloitte. Source
Fintech unicorn Ualá finally obtained a banking license in Mexico, clearing the way for the neobank to aggressively expand its product suite.