The payment operation, which has been awaiting regulatory approval for three years, will first focus on small merchants and will be implemented gradually in the South American country.
With payroll lending, Nubank blazes a trail into secured lending, an asset that bears less risk than credit cards and individual loans.
Walmart Mexico announced the acquisition of payments startup Trafalgar to strengthen its digital wallet initiative.
Nubank and Ualá expanded to Colombia to boost customer acquisition. Replicating success in Latin America is no easy feat for digital banks.
The investment, which was made in two parts, will serve to expand Kala's commercial and engineering team, as well as lay the groundwork to take its operations to other parts of LatAm.
A year after launching in Colombia, Argentine neobank Ualá reached 200,000 customers in the country, its CEO Natalia Ríos told Fintech Nexus.
Brazil's teenage-focused neobank Z1 received a $10.4 million investment to build new products to cater to young adults as well.
The new alliance between Banca Afirme and Clara guarantees the investment of $55 million throughout 2023 for 200 businesses in LatAm.
Venture capital funding to LatAm startups droped 70% to $1.3 billion in the quarter, down from $4.1 billion in the year-ago period.
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.