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.
Global neobanks have focused on the regional ecosystem as the fintech sector gained decent size and scale in the past few years.
In episode two of PitchIt: the fintech startups podcast we talk with Daylight Co-Founder and Chief of Staff Billie Simmons....
'There are going to be a lot of M&As in the market. There's going to be a lot of innovation and focus on unit economics'
Comun's seed round was led by Silicon Valley fund Costanoa Ventures and included participation from South Park Commons and FJ Labs.
Digital banks in Brazil are finally making inroads into one of the most competitive and highly profitable credit markets in the world.
The neobank space has really heated up the last couple of years. The leaders are getting great traction with millions...
SBI Group, owner of SoftBank is investing into the mobile-first bank; SBI Group will also get a seat on Moven's board and the companies plan to form a joint venture in Japan; Moven is also splitting its business in two; one side is the software provider that powers digital banking software and the other is the neobank, MovenBank; Moven also announced that it is in the process of purchasing a US bank. Source
Many neobank unicorns' attempts at international expansion have been met with varying results. Anne Boden believes B2B is the key.
The firm has helped members save upwards of $7 billion to date through retirement savings, investing, and rainy day fund planning.