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Weex is a Mobile Virtual Operator that offers mobile telephony and data service in Mexico based on the Telefónica network. It targets young people looking for personalized plans of minutes, megs and messages, in the prepaid segment. Weex is a Mexican startup that has the backing of Coca-Cola Founders, and with its entry into the market of Mobile Virtual Operators there are seven companies of this type that work with the Telefónica network.
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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 […]
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 […]
The Ultimate Guide to Venture Capital in Mexico [Updated 2020]
Contxto – There is another, less explored, facet of the startup equation. Indeed, no idea gets far without the money to do the walking. This is where venture capitalists (VCs) come in. And as one would expect, Venture Capital in Mexico and the rest of Latin America is no exception. Oft the mighty presences behind […]
Women in VC add one more to their ranks as Antonia Rojas joins ALLVP
Contxto – “The future is female.” As simple as that. At least that’s how venture capital (VC) fund, ALLVP, made it seem. It shouldn’t be so tough, but surely plenty of folks will be applauding ALLVP’s “bold” decision to kick off the new decade by welcoming a millennial, woman partner into its ranks. The truth […]
Mexican challenger bank Fondeadora wraps up US$2.5 million investment
Contxto – IGNIA Partners, LW Investment Management, and angel investors are placing their bets on Mexican challenger bank, Fondeadora, through a recent investment of US$2.5 million. This is the challenger bank’s second investment this year; having already received US$1.5 million for a neat total of around US$4 million in 2019. Fueled with these funds, Fondeadora […]
Mercado Pago will debut financial services in Mexico following success in Argentina
Contxto – The quest to supply financial services to unbanked Latin Americans continues as Mercado Libre’s fintech branch, Mercado Pago, sets its eyes on Mexico. After reportedly on-boarding two-thirds of Argentina’s accounts, now the burgeoning platform aims to test the waters in the region’s largest Spanish-speaking country. According to Vice-President of Mercado Pago, Osvaldo Giménez, […]
Mexican weex wallet is now Mibo and the neobank competition is heating up
Contxto – If you can’t stand the heat, get out of the kitchen. Or in the case of Mexican neobank, weex wallet, stay in the kitchen, change your name to Mibo and keep cooking. Following its name change, Mibo plans to launch two credit-related products within the next couple of weeks. Their particular focus will […]
MUY closes US$15 million Series B led by ALLVP
Contxto – Colombian foodtech MUY now joins Cornershop, Slang, Weex, among other startups in ALLVP’s portfolio following a Series B worth US$15 million. “We are thrilled to join one of the best teams in Colombia as they seize one of the largest opportunities in the region,” said Fernando Lelo de Larrea, a managing partner from […]
Mexican fintech weex wallet allies with Mastercard to provide debit cards
Contxto – The latest development in the Mexican fintech world is that weex wallet and Mastercard will collaborate to offer physical debit cards to users. With the new license, the neo-bank will supply more payment options to consumers. “This association is the first of its kind for a neo-bank in Mexico, a clear indicator of […]
Weex Mobile gets acquired by Yonder Media Mobile
Contxto – You know what they say, “personal is the new black.” Proving this, Yonder Media Mobile recently acquired Weex Mobile, the startup offering customized mobile services in Mexico. In Summary Weex is a Mobile Virtual Network Operator (MVNO) offering carrier and data services in Mexico. It aims to substitute pre-determined, fixed packages that traditional […]