Mexico’s economic landscape has been favorable for startups, but potential trade barriers imposed by President-elect Donald Trump could jeopardize this growth. However, Jaime Tabachnik, co-founder and CEO of Mexican trucking finance startup Solvento, remains optimistic. The company recently secured a $12.5 million Series A funding round, demonstrating confidence in the market.
### Latin America Fintech Potential
Venture capital investment in Latin American fintech companies has seen a significant rise, with a 73% increase in funding from 2023 to 2024. The region received $2.6 billion in investments in 2024, indicating a promising future for the industry.
### Funding and Financial Updates
– Cardless secured $30 million to expand its co-branded credit card business.
– StoreCash closed a $3.7 million seed round for its instant cash-back app.
– N26, a German fintech unicorn, reported its first pretax profit in the third quarter of 2024.
### Highlights 🗞
– New UK crypto regulations to include stablecoins and staking services.
– Flipkart co-founder Binny Bansal exits PhonePe’s board.
– Revolut plans to launch mortgages, smart ATMs, and business credit products.
– Apple Pay, Cash App, PayPal, and similar apps to face stricter regulations resembling banks.
