A year after launching in Colombia, Argentine neobank Ualá reached 200,000 customers in the country, its CEO Natalia Ríos told Fintech Nexus.
Latam fintech associations made a significant stride last week by publishing a document proposing joint regulations for open finance.
The Economist magazine's intelligence unit (EIU) has published a report on regulatory support for financial inclusion in developing countries and it is now gaining traction with press and analysts; the report scores countries on having an inclusiveness strategy and building governmental and private sector expertise, then provides in-depth details in areas including credit markets, non-regulated lenders, payments and insurance; Colombia ties Peru this year for the most progressive country; India has shown the most improvement; Latin America and East/South Asia are leaders regionally while Africa and the Middle East remain behind; the EIU performed the research in conjunction with the Center for Financial Inclusion at Accion and the Multilateral Investment Fund at the Inter-American Development Bank. Source
Open Finance is still a new concept in Colombia. However, the country is catching up with a series of regulatory initiatives.
Druo's technology creates an ecosystem that enables B2B users to charge or pay directly to any bank account without having to go through the complex network of financial intermediaries.
Colombian fintech Avista raised $22.5 million in debt from Accial Capital as it seeks to boost lending to the elderly.
Chile's fintech Migrante to acquire a motorcycle loan startuup in Colombia. It also changed its name to Galgo, or "greyhound" in Spanish.
Colombian fintechs have been very active in the VC space in 2024, with a number of startups raising over $150 million in funding so far.
askRobin is based in Estonia but serves consumers in Latin America; the company first started in Mexico in late 2017,...
Addi has targeted the Colombian and Brazilian credit market with their BNPL product. CEO Santiago Suarez says insights make the difference.