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The Complete List of Latin American Unicorns [Updated 2020]
Contxto – With Latin America growing as an important axis for the entrepreneurship ecosystem, hardly a day goes by without a breaking news story about a regional startup funding round. And even more frequently, new unicorns in Latam. At Contxto, we’re always trying to showcase what’s going well in Latin America. With the same purpose, […]
iFood to launch prepaid debit card and digital account for restaurants
Contxto – The lines between industries are getting blurrier in Brazil. Magazine Luiza, a major retailer and e-commerce platform recently bought AiQFome, a food delivery startup. Meanwhile, iFood—a food delivery startup owned by Movile—is now playing the role of fintech with the launch of a prepaid card and account for its restaurant partners. As competition […]
Fintech showdown: Banks’ upcoming Modo app versus Mercado Pago
Contxto – Not too long ago, a group of some of the largest banks in Argentina stated they would launch a joint app. Through it, they hope to attract users who’ve been opting for the likes of fintechs like Mercado Pago. More recently, the app’s developers disclosed just what users can expect from it. And […]
Stone buys Linx for ~US$1.1 billion. If who controls the hardware controls the world, will regulators allow it?
Contxto – In a 90 percent cash, 10 percent equity deal, Brazilian Stone is allegedly acquiring Linx, a software company also from Brazil. Last Tuesday (12), a statement made by Linx confirmed that it was “in final talks” with Stone, which reaffirms their intentions for the transaction to go through. Nevertheless, it isn’t a done […]
Mercado Libre, now Latam’s most valuable company, reaches US$60B market cap. Opportunity or overhype?
Contxto – If you think either Petrobras, América Móvil, or even Walmex is Latin America’s largest company, think again, my friend. Mercado Libre, Argentina’s dearest tech company has seen its stock surge in the past couple of weeks, mainly due to people’s reliance on its e-commerce and payment platforms, which seem to be contingency-resistant. According […]
Argentine banks unite to give Mercado Pago and fintechs a run for their money
Contxto – It’s no secret that marketplace giant Mercado Libre has been busy scaling its logistics operations and partaking in a large share of Latin America’s e-commerce. In the process, its fintech arm, Mercado Pago, has also been growing. Thus, multiple traditional banks have noticed and are taking cards in the matter. They’ve recently come […]
Mercado Pago launches POS terminal, Point Plus for SMEs
Contxto – It was only a matter of time before Latin America’s biggest e-commerce marketplace updated its POS credit card machine. Last Tuesday (14), Mercado Libre’s fintech arm, Mercado Pago, presented “Point Plus” a payment terminal for businesses. This device has all the features you’d find on a typical terminal: Receipt printing and a reader […]
Mercado Libre aims to launch credit card in Chile
Contxto – E-commerce giant Mercado Libre is making headway in its fintech plans for Chile. Authorities, through the Financial Market Commission (CMF), recently approved its financial services arm, Mercado Pago, to continue with the revision process to acquire a special license. Should it acquire this official document, Mercado Pago can launch multiple new products in […]
Mercado Libre’s stock grew to nearly double its value thanks to Covid-19
Contxto – On April 1, Mercado Libre stock was priced at US$447. Nearly two months later and on May 20, it’s nearly doubled to be valued at US$828. Its rapid growth illustrates the untapped potential for both e-commerce and the fintech industry in Latin America. Disclaimer: I am not a financial advisor, investor, broker, or […]
SMEs in Brazil need a “lending hand,” in comes Mercado Libre US$114 million in hand
Contxto – News is buzzing about the insufficiency of government-funded credit and support packages for small business. And for some time now fintechs have been stepping in to offer additional loans or more favorable terms for these entrepreneurs. And in Brazil, e-commerce giant Mercado Libre is also joining the loaning game, specifically, through its financial […]