Five years since Mexico passed the fintech law, industry leaders call for an overhaul to the current regulation.
Credijusto, a leading Mexican small business fintech paid $50 million to buy Banco Finterra in June. Co-CEO David Poritz wrapped day one of the LendIt LatAm keynote section, discussing what it was like as the only neobank holding a banking license in Mexico.
Buy Now, Pay Later companies are gaining ground in Latin America, with Kueski reporting more than 1 million customers.
Millions of people in Mexico do not have access to basic financial products, but fintechs have been working to radically change the scenario.
Through its platform, Solvento seeks to build a stronger supply chain through reliable, flexible, and easy-to-use financial solutions.
The fintech industry urges the government to expedite the procedure, contending that the current legal framework is impeding growth.
Yave, a mortgage and credit fintech that aims to capture the Mexican mortgage market, won the day after an excellent presentation by co-founder and CEO Bernardo Silva. He said he wanted to break into the slow-moving trad marketplace for mortgages and help brokers put the mortgage right into the sales process.
Latam fintech associations made a significant stride last week by publishing a document proposing joint regulations for open finance.
Mendel plans to use the resources raised in this round to double its growth and accelerate the development of its platform.
This acquisition consolidates Yaydoo's position as the largest provider of payment solutions in the Latin American B2B market.