Miranda’s Mex Fintech Monitor
February 20, 2023
Mexico FinTech News
LatAm FinTechs bullish on Mexico
Brazilian neo bank Nu gained 1.8 million new clients in Mexico in 2022, more than doubling its client base in a year. Argentine Ualá seems equally as bullish on the Mexican market, announcing that it would begin offering credit cards in Mexico, in addition to its existing debit card offering. Ualá has rapidly grown in Mexico since acquiring bank ABC Capital in November 2021, although the deal is still pending regulatory approval. Additionally, the wallet Mercado Pago announced that it would offer insurance against theft, including assaults that occur within eight hours of making a cash withdrawal making its entry into the Mexican InsurTech market.
Source: Flickr
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