EPAM Systems, a US-based provider of digital platform engineering and development services, has acquired S4N, a Columbian software development services firm specialising in the design and development of modern software products and enterprise platforms. The move is a part of EPAM’s global footprint expansion within the Latin American region. With offices in Colombia, S4N has built software for some of the world’s largest retailers, insurance companies, and airlines specialising in architecting and delivering software distributed systems, data-intensive solutions, as well as CloudOps. With an existing presence in Mexico, EPAM’s move into Colombia will strengthen its position by combining both engineering…

BBVA has signed an agreement to integrate its cross-border payment and financing services on Trusple, a blockchain-based trading platform powered by Alibaba’s affiliate Ant Group, for greater transparency and security. Trusple aims to accelerate the digital transformation and facilitate the financing of international trade operations, with a special focus on small and mid-sized businesses. These services will be offered by BBVA Mexico and BBVA Spain so that Mexican and Spanish importers that currently import from China can pay for the operations within Trusple, without having to use external services. The system uses smart contracts which automatically execute the transactions when…

Brazilian challenger bank Nubank announced that it led a US$44 million investment round in Jupiter, an Indian digital bank which launched its beta app about a month ago. This marks the first investment that Nubank has made into another company. The funding round was joined by venture capital firms Sequoia Capital and Matrix Partners. With this investment, Nubank intends be a part of Jupiter and also “take advantage of the similarities with the Indian market to promote more and more changes in Latin America”. Nubank had recently announced that it had raised a total of US$ 750 million during two…

Paysafe a leading specialized payments platform, today announces that it has signed a definitive agreement to acquire PagoEfectivo, a market-leading, Peruvian alternative payments (APM) platform. For Paysafe, this latest investment is a strategic foothold in Latin America, one of the world’s fastest-growing online markets where merchants and consumers alike are demonstrating an increased appetite for alternative payment methods and online banking solutions. Paysafe’s core purpose is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet, and online cash solutions; it offers over 70 payment types in over 40 currencies around the…

Mercury, a San Francisco-based fintech startup which offers banking services for startups, announced that it has raised US$120 million during its Series B funding round and is now valued at US$1.62 billion. The round was led by Coatue, with participation from Andreessen Horowitz, CRV, and Sapphire Ventures. Investors including Dylan Field, CEO at Figma, Mathilde Collins, CEO at Front, Akshay Kothari, COO at Notion, Jack Altman, CEO at Lattice, Hunter Walk and Satya Patel, Partners at Homebrew, and Elizabeth Yin, Partner at Hustle Fund had contributed too. Additionally, Mercury said that it will set aside a US$5 million allotment in…

Across the US and around the world, live events are back in full force and gathering steam. In key fintech hubs like New York and California, major trade shows and events are scheduled to take place in the coming months, promising to gather some of the industry’s most influential experts and thought leaders. We’ve compiled a list of the top upcoming fintech events and gatherings for professionals to keep up with the latest developments and build meaning connections with industry leaders. LendIt Fintech Nexus September 01 – 02, 2021 Loews Miami Beach Hotel, FL LendIt Fintech, one of the leading…

Digital payments company Square announced that it has agreed to acquire Australia’s Buy Now, Pay Later (BNPL) firm Afterpay in a in an all-stock deal worth approximately US$29 billion. The closing of the transaction is expected in the first quarter of 2022. Square had recently announced that its financial arm has begun its banking operations in the US to offer business loan and deposit products, beginning with underwriting and originating business loans for Square Capital’s existing lending product. The acquisition of Afterpay will allow Square to expand its offerings to include that of consumer lending as well. Square plans to…

Robinhood, the US startup that pioneered commission-free trading, is seeking a market valuation of up to US$35 billion in its upcoming initial public offering (IPO) on July 29. In its submission to the US Securities and Exchange Commission (SEC), the company said it will be offering 55 million shares and will aim to sell them at a range of US$38 to US$42 apiece to raise as much as US$2.3 billion. Robinhood will be reserving 20% to 35% of its IPO shares for its own clients in what CEO and founder Vlad Tenev expects will be one of the largest retail…

New York-based digital asset custodian Fireblocks announced that it has raised US$310 million in a Series D funding round, boosting the company’s valuation to US$2 billion. The round was co-led by Sequoia Capital, Stripes, Spark Capital, Coatue, DRW VC and SCB 10X, the venture arm of Thailand’s Siam Commercial Bank, whose investment marks the third global bank to invest in Fireblocks alongside BNY Mellon and SVB Capital. While continuing its strategic expansion, Fireblocks intends to scale all business lines, adding more customers and partners to its ecosystem. Since its inception in 2019, Fireblocks has raised a cumulative total of US$489…

When the global pandemic struck last year, millions of people transitioned from working in physical offices to working from home, within the span of a few weeks. Physical meetings turned to video calls and break-time interactions moved to online messaging platforms. While several major economies are lifting movement restrictions, it is clear that remote work is here to stay. Several employees and companies are exploring either fully remote or hybrid working structures owing to the flexibility that comes with working remotely. Therefore, there is a growing demand for remote working tools and software that allow remote teams to function effectively…

With digital payments picking up pace across the globe, social media giant Facebook is extending its payment services to online retailers. Shopify has become the first e-commerce platform to sign up for Facebook Pay. This will allow Shopify merchants to offer Facebook Pay as a payment option during checkout, eliminating the need to re-enter payment information for every transaction. Prior to this, Facebook Pay, which was launched in 2019, was available for its main platform, as well as WhatsApp and Instagram. The feature will be expanded across more platforms in the US starting this August. The development comes not long…

Circle and Mastercard announced an engagement to use the USD Coin (USDC) to facilitate crypto-to-fiat conversions in a pilot programme to expand the ability of issuers and crypto businesses to enable customers to spend their crypto assets. The engagement will test using USDC as a means for card issuers to more easily settle payments to Mastercard, helping accelerate the world towards greater use of internet-native financial infrastructure. “The engagement between Circle and Mastercard reinforces how USDC is growing its role in payments and commerce on the internet, while building a vital bridge between digital currency payment systems and large, established…

M1 Finance, an all-in-one money management platform, announced that it has secured US$150 million during a Series E funding round, the firm is now valued at US$1.45 billion. SoftBank’s Vision Fund 2 led the round, with participation from existing investors. After raising a Series B through D in the past twelve months, M1’s total funding is now over US$300 million, and its total assets under management is reportedly over US$4.5 billion. The new capital will allow M1 to focus on delivering an optimal client experience through new products and features, platform innovation, enhanced customer service, and hiring top talent to…

Over the last few years, digital banking in Latin America (Latam) has experienced extraordinary growth on the back of changing customer needs, expanding technological penetration and rapidly evolving regulatory standards. Since 2017, the number of digital banks has more than doubled, reaching 52 independent neobanks in 2021, according to a new report by Swiss digital banking tech provider Banking, Payments: Context (BPC) and Dutch fintech consultancy firm Fincog. Brazil leads the region both in terms of sector development and consumer adoption. Out of the 52 neobanks identified, 24 players are from Brazil, and out of a pool of 77 million…

LoanPro, a SaaS-based loan management, servicing and collections platform for alternative, fintech and traditional lenders, announced it has raised a US$100 million growth equity investment in a Series A funding round from FTV Capital, a growth equity investor. As part of the transaction, Robert Anderson, who led the investment for FTV Capital, will join LoanPro’s board of directors. Through this capital raise, LoanPro will enhance its platform functionality, enter new lending verticals, and further invest in client-centric growth initiatives. LoanPro was founded in 2014 by three brothers, to enable lenders to take back operational control and enhance real-time data insights…

Argentina’s booming fintech industry boasts over 300 companies that employ nearly 15,000 people. This year, the sector is expected to create more than 5,600 positions, reflecting on the industry’s massive growth and traction, according to data from Cámara Argentina de Fintech (the Argentine Chamber of Fintech). Results of a research shared in May 2021 by the organization show that 20% of all Argentine fintech companies currently in operation were founded just last year, showcasing the accelerated growth the sector witnessed during the global pandemic. Between 2017 and 2020, direct employment in the fintech sector grew at a sustained rate of…

California-based fintech Willa announced that it has secured US$18 million during a Series A funding round. The round was led by New York-based Fintech Collective, including additional investments from Entrée Capital and EQT Ventures. With the investment, Willa is gearing up to expand its invite-only beta to a waitlist of 150,000+ freelancers in the United States. The latest funding will also allow for the company to grow its active user base and keep up with demand and a rapidly growing waitlist. A debit card and additional services centered around financial wellness for freelancers are planned later in 2021. Willa also…

Visa revealed that its customers had spent more than US$1 billion on its crypto-linked cards in the first half of 2021. The payments giant reported that it had partnered with 50 leading crypto platforms on card programmes that make it easy to convert and spend digital currency at 70 million merchants worldwide. Visa had previously announced in March 2020 that it will allow the use of USD Coin (USDC), a stablecoin backed by the US dollar, to settle transactions on its payment network over Ethereum. The company has been expanding partnerships with digital currency platforms such as FTX, Coinbase, Crypto.com,…

Though the growth of fintech in Latin America (Latam) started later than in other region, it quickly picked up stream. Today, Latam is experiencing an explosion of fintech activity that’s being fueled by rising demand for online banking tools, encouraging demographics, and a significant underserved population. Since 2016, more than US$7 billion has been invested into Latam financial services companies, according to Crunchbase data. Funding activity accelerated in 2019, jumping from US$600 million in 2018 to US$1.5 billion. As of June 2, 2021, total investment dollars invested in the sector were already neck-and-neck with last year’s total, indicating that 2021…

JPMorgan Chase has entered into an agreement for a 40% ownership stake in Brazilian digital bank C6 Bank for an undisclosed sum. Launched in 2019, C6 Bank has reportedly amassed more than 7 million customers on its digital platform. C6 Bank offers a full suite of products including multi-currency checking and savings accounts, debit and credit cards, travel and loyalty programs, investment and lending products for individuals as well as banking and payments products for small businesses. Brazil is one of the largest retail banking markets in the world where unprecedented regulatory reform and infrastructure modernisation has led to increased…