Fintech firms from Chile made headlines this week, taking their rightful place alongside the innovators in neighboring international locations like Brazil, Colombia, and Mexico, which have tended to dominate conversations in regards to the surge in monetary know-how in Latin America in recent times.
Xepelin, a Chilean firm that provides a monetary companies platform designed particularly for small companies, raised $30 million in fairness together with one other $200 million in debt amenities. The fairness financing was led by Kaszek Ventures, a Latin American VC fund, and featured participation from DST International and a lot of angel traders. The corporate’s debt facility had been offered by asset managers and hedge funds based mostly in Latin America in addition to the U.S.
Xepelin focuses on enabling small companies to safe arrange their monetary knowledge in actual time, in addition to apply for – and obtain – short-term financing simply and shortly. The corporate says that SMEs can apply for working capital loans “with three clicks” and obtain their funding “in a matter of hours.”
With a month-to-month development fee of 30%, Xepelin stated it has greater than 4,000 purchasers in Mexico and Chile, and has loaned greater than $400 million to small companies in these international locations. The corporate stated that the brand new capital will assist it be certain that all small companies in Latin America may have entry to each monetary companies and monetary capital. Xepelin additionally famous that it’s trying to broaden past the B2B house to supply a broader vary of companies to small companies and corporations within the area.
Serving to employers enhance the monetary well being of staff is the mission of Quansa, one other Chilean fintech that raised $3.6 million in new capital this week. Quansa combines monetary training with monetary administration instruments to present firms in Chile the flexibility to supply their staff a extra holistic advantages bundle. Quansa’s platform gives customized monetary steerage, entry to versatile salaries, and debt administration sources to greater than 2,000 staff at the moment.
The seed funding spherical was led by Valor Capital Group and featured participation from Pear VC, Norte, Magma Companions, Sequoia Scouts, in addition to a lot of angel traders.
Quansa co-founder Mafalda Barros pointed to the problem of debt that many Chilean staff wrestle with, and famous that 70% of staff say that they really feel as if they’ve little management over their funds. “It’s simply as vital to grasp learn how to handle your cash as it’s to have entry to those companies,” Barrros stated. “We educate customers learn how to arrange and handle their payments, use monetary instruments, begin saving and, after all, to spend higher.”
Not all large fintech headlines out of Latin America had been associated to funding and enterprise capital. EBANX, a funds resolution supplier based mostly in Brazil, and Amazon have teamed as much as allow Amazon Prime Video clients in Peru to subscribe to the service and make funds in native forex slightly than in U.S. {dollars}.
“Localized options deeply enhance the net buying expertise for Peruvians and all Latin Individuals, serving to them to entry the perfect companies around the globe – along with broadening the full addressable market of firms within the LatAm area,” EBANX co-founder and CEO João Del Valle stated. “And this two-way avenue of entry is exactly what we work for on a regular basis at EBANX. That’s the reason we’re very enthusiastic about this collaboration with Amazon Prime Video in Peru.”
Based in 2012, EBANX is among the many main fee platforms in Latin America. The corporate gives greater than 100 native fee strategies and introduced entry to monetary services to greater than 70 million Latin Individuals. Final month, the corporate secured $430 million in funding from Creation Worldwide. This spring, EBANX launched operations in Central America, increasing its complete attain to fifteen international locations. The corporate has stated it plans to supply shares to the general public by way of IPO “within the coming months.”
Right here is our have a look at fintech innovation around the globe.
Central and Southern Asia
Latin America and the Caribbean
Asia-Pacific
Sub-Saharan Africa
Central and Jap Europe
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