Fintech Snapshot: July 2019

After a record-breaking June  – when Latin American fintech attracted US$ 237 million in equity investments– the region broke that record again in July with fewer, but larger, investments. Nubank announced a mega-round of US$ 400 million lead by the growth equity firm TCV, increasing its valuation from US$ 4 billion to US$ 10.4 billion. Now, Nubank is one of the world’s largest unicorns – and top 3 in the fintech industry.

Although there were some rumors that Softbank would participate in this new Nubank round, in the end, it decided to bet on another digital bank – although not exactly a fintech: Banco Inter, which IPO’d last year. Softbank bought most of the US$ 341 million follow-on offering, which left Banco Inter’s valuation at US$ 6.6 billion.

Besides these massive investments, we saw three other smaller deals from leading fintechs from Brazil and Mexico. One highlight was Nexoos raising a US$ 6.5 million in debentures to increase its lending power.

In total, Latin American fintechs raised US$ 400.3 million in equity investment this month – not counting the capital raised by Banco Inter – in three deals and US$ 6.5 million in a debt round. In this month, Brazil raised 100% of the disclosed rounds, asserting its leadership in the region.

At the same time, the battle between the two largest ride-hailing companies intensified in Latin America and started to enter the financial services: both companies started to offer debit cards to their drivers.

If you enjoy these columns, don’t miss my newly-launched Fintech LatAm Report 1H2019, for a complete picture of LatAm investment trends so far this year. The report summarizes and analyzes the data of the first 6 months of the year: Read it here

Well, let’s jump into the relevant fintech deals and news of July, and stay tuned for the next Fintech Snapshot next month!

 

Main Investments

M&A

Regulations

Relevant Moves and Partnerships

 

This post was first published at Iupana: http://iupana.com/opinion_post/fintech-snapshot-july-2019/?lang=en

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