While VC funding to Latin American startups saw a year over year decline, the fact that it is stabilizing offers hope to the industry.
SoFi acquired the engineering and product teams from mortgage startup Clara Lending; American Banker reported SoFi said of the deal it will help them to, “immediately ramp up our technical capabilities."; SoFi’s business is still reliant on student loan refinancing but this acquisition will allow them to increase their mortgage business in the next few years. Source.
In eight months since its creation, Clara became a unicorn, the fastest Latin American startup to obtain this designation yet.