Miranda’s Mex Fintech Monitor

March 27, 2023

Mexico FinTech News 

Toku raises US$ 7.15 million seed round to consolidate operations in Mexico 

The Chilean FinTech specialized in business expenses, raised a seed round to consolidate its operations in Mexico with new products and services and expand to other Latin American countries including Brazil, Colombia and Peru. The company hopes to reach 50,000 companies for a total of 100 million clients. The round was led by F-Prime Capital, Wollef, Honey Island 4UM, FundersClub and Clocktower.  

Expansión, 03/24/2023, Fernando Gutiérrez: Toku recauda 7.15 millones de dólares y apunta hacia expansión en México 

Several digital banks are seeking banking licenses  

In an exclusive interview with Bloomberg Línea, National Banking and Security Commission (CNBV) President Jesús de la Fuente made known that the regulatory body was evaluating a dozen of banking licenses in Mexico, six of which are reportedly to create fully digital banks. De la Fuente avoided the term NeoBank, clarifying that the entities would have to fully comply with all banking regulations.  

Bloomberg, 03/22/2023, Zenyazen Flores: Exclusiva: CNBV tiene seis solicitudes para creación de neobancos en México 

Other News 

El Economista, 03/23/2023, Sebastián Estrada: Nu México podría superar a Brasil 

Retail Banker International, 03/21/2023, Staff: Femsa looking to foray into Mexican financial services space 

Bloomberg Línea, 03/22/2023, Staff: Cuatro países de LatAm en el ‘Top 20′ de fintech activas en el mundo 

LatAm FinTech News 

Bitso receives authorization to operate as a payment institution in Brazil