LATAM fintech is booming.
We’ve all read about Nubanks IPO and there are more funding rounds than ever.
I follow news from LATAM rigorously. If you like it as much as I do, you should definitely follow my LATAM news page and weekly newsletter fully dedicated to LATAM FinTech news.
This week I would like to highlight a few promising startups focussing on the Latam market, that were both winners of the SantanderX Global Challenge where I was mentoring: Lana from Spain and Bankuish from Mexico.
🔦Startup Spotlight
Lana is an optimized technology platform, that seeks to provide accessible financial services through technology and with an outstanding experience to traditionally underserved clients in LatAm, starting with gig economy workers or the collaborative economy.
→Lana is an incredible product with the potential to become a life-changing company for millions of people in Latin America who currently have no access or are limited in access to financial services.
As a mentor to this Santander program, I had the privilege to meet with CEO Pablo Muñiz and CFO Manuel Serna Igual before the final pitch day.
🎉 I am very happy for them to come out as winners! 🎉
Bankuish works to improve the lives of freelancers and gig workers by providing a path to full financial inclusion. They are bridging the gap between gig workers and financial institutions. The platform allows users to leverage their work history to demonstrate their creditworthiness and access preapproved loans and other financial services. Bankuish users can also use the app to grow their credit scores and reach their financial goals.
→Bankuish de-risked the process of lending to gig workers for traditional banks, allowing them to discover new customers, improve customer relationships, and increase productivity.
I met with Founder and CEO José V. Fernández a few months ago, after an introduction, from my good friend Letizia from Plug and Play (Thank you for that Letizia!).
🎉I think Bankuish is on to something very interesting and they absolutely deserve the win in their category! 🎉
🧐 Why does it matter?
I like both of these startups specifically because I’m bullish about this business banking/FinTech segment that is targeting freelancers, gig workers, and up to SME’s.
→Not only in LATAM but worldwide.
💡Like I said last week: I expect this FinTech segment will explode in the upcoming years and we will see more major funding rounds and valuations soon.
👀 Let’s see if Lana and Bankuish can live up to their full potential. I’ll surely keep a close eye on their progress and will duly keep you posted!
Now that I brought a few promising FinTech startups to your attention, I would like to ask you; which LATAM Fintechs should I keep a close eye on in 2022 onwards?
Have a great Sunday and see you next week!
Cheers,
Marcel.