Nubank announced a $150 million loan from the International Finance Corporation as it seeks to strengthen its presence outside of Brazil.
JoinedJun. 9, 2022
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David Feliba is a Latin American financial and business journalist. He reports fintech, banking, and economic news for global news organizations. His work includes interviews with senior executives, cabinet members, and policymakers across the region.
Over the past years, David has reported from several locations in the Americas. His features have been published in leading global media such as The Washington Post, The Financial Times, Americas Quarterly and S&P Global news. He lives in Buenos Aires.
In Buenos Aires, presidents Lula da Silva and Alberto Fernandez said a trade common currency would help reduce dependency on US dollar.
Nubank and Banco Inter are moving away from the local stock exchange, while other Brazilian fintechs skip the market altogether.
Credit granted by fintechs in Brazil reached 55 billion reais in 2021, up tenfold in the 2016-2021 period, according to Serasa Experian.
E-commerce is quickly catching up in Latin America, providing fertile ground for digital payments to proliferate.
Last month, PicPay launched peer-to-peer lending for companies, a major innovation in a bid to enhance the product suite.
Three years after a prosperous US IPO, uncertainty in global markets has taken a toll on XP, with its share down 50% year to date.
A survey by Fiserv indicate the growing use of modern payment methods in Brazil such as Pix, QR codes and online shopping.
The rise in interest rates has led to banks and fintechs cutting down on lending. For companies like Stori, that is an opportunity.
Despite the bear market, Kushki's CEO argues that LatAm founders are used to dealing with recurring crises.