Financial Services

Kandeo fully exited Grupo Factoring de Occidente (GFO), A Colombia company that offers financing solutions to SMEs, through a sale to Latin Trade Capital, a member of Crecera Capital LLC,…

Mutuo Financiera, a Mexican vehicle fleet leasing company focused on clean energy passenger transportation, raised US$100m in debt financing from Crayhill Capital Management to expand its fleet. (Press Release) Mutuo…

SoftBank acquired ~R$1b in shares of Banco Inter, a publicly traded Brazilian digital bank. WSJ reports SoftBank had been in talks with Nubank previously. (Brazil Journal) O Softbank comprou quase…

Brazilian fintech BTX Digital raised R$10m from RedLions Capital and partnered with Hubchain Technologies. (Tiinside) Desde os primórdios, 6% da sinergia da receita financeira de empresas são deixadas para os…

Variv Capital and Austrian VC Speedinvest made an undisclosed investment in Bnext, a Spain-based marketplace for financial products. (Press Release) VARIV II invested in Bnext’s latest round. Speedinvest, an Austrian…

Nubank doubled its valuation to US$4b this year with a US$180m investment from Tencent, representing about a 5% stake in the company. US$90m was a direct investment from Tencent; the other US$90m in equity was purchased from existing shareholders. In March 2018, DST Global led a US$150m round in Nubank at a valuation over US$2b, with participation from Thrive Capital, Dragoneer Investment Group, and existing investors Founders Fund, Redpoint Ventures, Ribbit Capital, and QED Investors. Previous investors include KaszeK Ventures, Sequoia Capital, and Tiger Global Management. Tencent’s last disclosed direct investment in Latin America was a 2017 Series B in Satellogic, an Argentine space exploration platform.

Stone Pagamentos IPO’d on the Nasdaq, raising US$1.1b for an initial market cap of almost US$6.6b. Investors include Ant Financial (Alibaba’s investment arm), Madrone Partners (Walton family), Berkshire Hathaway, Tiger Global, Actis, Gávea Investimentos, Valor Capital, and 3G Capital’s founders Jorge Paulo Lemann, Marcel Telles and Carlos Alberto Sicupira. 

Creation Investments Capital Management made a MX$250m investment in Pluscorp, a Mexican financial services company.

German-based Global Founders Capital made an undisclosed investment in Zen Finance, a Brazilian fintech focused on credit-as-a-service. Philipp Povel, founder and CEO of Dafiti, and Carlos Eduardo Norbert of Petronia Capital also participated in the round.

BlueYard Capital led a US$7m Series A investment round in financial services AirTM, a platform that provides financial services to consumers and businesses throughout Latin America. (Press Release) AirTM, a…