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Rockstart accelerator will offer something other programs don’t—a credit card for startups
Contxto – There have been quite a few examples of startups dishing out credit cards for individual consumers. Although this time around it’s a different ecosystem player that’s helping founders foot the bill without using their own pocket money. Rockstart, an accelerator with offices in Colombia, will release a credit card for startups. The minds […]
Santander InnoVentures leads US$5 million investment in a55
Contxto – Santander Bank’s corporate venture capital (VC) arm, Santander InnoVentures led a US$5 million investment in Brazilian fintech a55. Yes, yet again there’s a loaning startup that’s raised capital. But a55 has a very specific market and a different approach when it comes time to charge borrowers. A55’s got its eye on SaaS streams […]
Fintech ADDI raises US$15 million through Quona Capital
Contxto – Funding may be tight within the current Covid-19 context, but some startups are still closing equity deals. This is fintech ADDI’s case. Yesterday (21), the loaning startup announced it received a capital injection for US$15 million in an investment round led by Quona Capital. Other contributors include Foundation Capital, S7 Ventures, as well […]
Galileo is going in for the Mexican fintech market, partnering with Klar
Contxto – Mexican challenger bank Klar is buddying up with US-based fintech, API, and payments platform, Galileo. This is another step in the latter’s expansion into Mexico. In February of this year, it had opened its offices in the capital. Moreover, consumer financial services platform SoFi acquired Galileo for US$1.2 billion last month. Despite all […]
There is one great equalizer for challenger and neo-banks in Mexico
Today we had our Morning Coffee with Sam Garcia, Senior Associate at Amplo—a venture fund Contxto – It is estimated that 42 million Mexicans are unbanked and that millions more are “underbanked”, meaning that they have a bank but it does not offer mobile services, or are just generally unhappy with their current banking situation. […]
Mexico’s challenger and neo-banks. Do you know the difference?
Contxto – I’ll confess I didn’t until quite recently. And I don’t blame you if you’re not exactly clear as to the difference between a neo- and a challenger bank is. Often the terms are used interchangeably. We thought we’d help to clarify a bit by rounding up these cream of Mexico fintech in a […]
Accion, Quona launch US$203 million fund to promote financial inclusion
Contxto – You’ve probably heard of Quona Capital when we talked about the historic mark of US$57.5 million seed equity and debt round that Klar set back in November of last year. Additionally to leading this unprecedented round in Latin America, Quona Capital also participated in Contabilizei’s Series C, Kovi’s Series A, and Neon’s Series […]
Mexico’s Stori is the latest neobank to cash-in, US$10 million in Series A2
Contxto – It’s that time of the year again! Another Mexican neobank has raised funding. According to a PR Newswire press release, Mexican mobile-only neobank, Stori, has concluded a US$10 million Series A2 round. A2? I swear I thought that was either an Audi or a steak sauce. Anyways, moving on. The investment was co-led […]
Mexican neobank Albo adds US$19 million to Series A, increasing value to US$26.4 million
Contxto – To think that investment rounds are indelible would be a grave mistake, one made apparent by one of Mexico’s leading neobanks, Albo. Simply consider what began as a US$7.4 million Series A last January that has now grown to US$26.4 million in a recent extension. Not intending to slow down anytime soon, we […]
Klar makes history with US$57.5 million seed equity and debt round
Contxto – Yet another Latin American fintech has raised the bar with early-stage seed funding. Earlier today, sources announced that Klar raised US$57.5 million in seed funding. According to Santander InnoVentures, that’s the largest seed round to ever hit the books in Mexico. Next to Grin’s US$20 million back in August 2018, that is. Klar’s […]