On The Web

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Deals

Addi Raises $75M to Advance ‘buy Now, Pay Later’ in LatAm, Nearly Triples Valuation

September 8 2021

• in
• Buy Now Pay Later
• Latin America

“Buy now, pay later is officially everywhere, and Latin America is no exception. Today, one startup in the region, Addi , is announcing a $75 million extension to its Series B, bringing the total round size to $140 million. In late May, the startup announced it had raised $35 million in an equity round led […]

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Global

How the Latin American Market Has Hit the Radar Screen for Major Processors

September 7 2021

• in
• Latin America

“North American payments processors are focusing lately on bulking up resources in Latin America, largely via acquisition. The latest example is Montreal-based Nuvei Corp., which on Tuesday said it has acquired Paymentez LLC, a 10-year-old payments provider that enables more than 80 payment methods in Mexico as well as 10 countries in South America. Terms […]

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Deals

E-commerce Platform Nuvemshop Becomes Brazil’s Latest Unicorn

August 20 2021

• in
• Latin America

“Having raised $500 million in its latest funding round, Brazilian e-commerce platform Nuvemshop has become the latest unicorn startup in Brazil, the company said on Tuesday. The funding arrives just five months after Nuvemshop received an investment of 500 million reais ($95.2 million), bringing its 10-month total to $620 million and highlighting how Latin America’s […]

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Global

RappiPay Colombia obtained a license to become a neobank

August 17 2021

• in
• Latin America
• Neobanks

“RappiPay received authorization from the SuperFinanciera to become a neobank. RappiPay, a 50/50 “Joint Venture” of the Davivienda bank and the Colombian unicorn Rappi, received authorization from the Financial Superintendency of Colombia to establish itself as a banking entity, thus it has the way paved to be the next neobank in that country.”

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Global

SumUp and Visa make alliance to promote digital payments

August 13 2021

• in
• Latin America

“SumUp and Visa partnered to promote the digitization and financial inclusion of small businesses and entrepreneurs through access to mPOS and other tools. So far they have reached more than 280 medium and small cities, including Yopal, Tuluá, Riohacha, San Andrés and Quibdó, among others. According to Visa, the consumer prefers the use of cards over […]

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Domains

MercadoLibre Is Changing the Way Latin Americans Shop—and Pay

June 30 2021

• in
• Latin America
• Remote Commerce

“If MercadoLibre is changing the way Latin Americans shop, investors seem even more excited about how it’s changing the way they pay. Payment volume at MercadoPago , the company’s financial tech arm, increased 75% last year, to $50 billion, as merchants incorporated the ability to pay through smartphone apps or QR codes. The company also […]

On The Wires

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Deals

Mercado Livre Announces Acquisition of Kangu, a Latin American Logistics Operator | MercadoLibre, Inc.

August 25 2021

• in
• Latin America

“Mercado Livre, Latin America’s leading e-commerce and financial services technology company, has announced its acquisition of Kangu , a Brazilian logistics company that operates in Brazil, Colombia and Mexico. Mercado Livre, which was already a strategic partner, expanded its participation with the acquisition of the entire company. This is consistent with the platform’s strategy of increasing investment across its […]

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Deals

Paysafe to Acquire SafetyPay

August 16 2021

• in
• Latin America

“Paysafe (NYSE:PSFE) (“the company”), a leading specialized payments platform, today announced that it has signed a definitive agreement to acquire SafetyPay for USD 441 million in an all-cash transaction. SafetyPay is a leading payments platform that enables eCommerce transactions via an unrivalled choice of open banking and eCash solutions, operating primarily in Latin America. For […]

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Global

BigCommerce and Mercado Libre Partner to Power Cross-Border Ecommerce Growth

July 20 2021

• in
• Latin America

“BigCommerce (Nasdaq: BIGC), a leading Open SaaS ecommerce platform for fast-growing and established brands, today announced a partnership with Mercado Libre (Nasdaq: MELI), the leading ecommerce marketplace in Latin America, to give BigCommerce merchants the ability to sell across Latin America to nearly 133 million unique consumers on Mercado Libre’s Marketplace. It also marks Mercado […]

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Global

Citi Latin America Announces Rollout of the Citi Digital Account

July 14 2021

• in
• Latin America

“Citi Treasury and Trade Solutions (TTS) Latin America today announced a successful launch of the Citi Digital Account. Citi Digital Account leverages innovative digital capabilities using Citi’s award-winning CitiDirect BE® Digital Onboarding, Electronic Signatures, and Digital Product Activations.”