Mexicobased 20m series anthemis startupsann azevedotechcrunch
Mexicobased 20m series anthemis startupsann azevedotechcrunch fintech startups have received a major boost with the announcement of a $20m Series A funding round led by Anthemis. The funding will used to expand the startups’ operations and develop new products. The announcement was made by Anthemis partner, Rodrigo Azevedo, who said that the funding round was a testament to the potential of the Mexican fintech market. “Mexico is a key market for us, and we are excited to partner with these innovative startups to help drive growth and innovation in the industry,” he said.
The startups that will benefit from the funding include Flink, a digital banking platform that allows users to open accounts and make transactions through their mobile phones, and Minu, a platform that provides employees with access to their earned wages before payday. Other startups that will receive funding include Albo, a neobank that offers digital banking services to consumers, and Credijusto, a lending platform that provides loans to small and medium-sized businesses.
The funding round comes at a time when the Mexican fintech market is experiencing rapid growth. According to a report by Finnovista, the number of fintech startups in Mexico has grown by 14% in the past year, with the sector now comprising over 400 companies. The report also found that investment in Mexican fintech startups had reached $1.6bn in 2020, up from $1.3bn in 2019. The majority of this investment has come from foreign investors, highlighting the attractiveness of the Mexican market to international investors.
In conclusion, the $20m Series A funding round for Mexican-based Anthemis startups is a significant development for the country’s fintech industry. The funding will enable these innovative startups to expand their operations and develop new products, further driving growth and innovation in the sector. With the Mexican fintech market experiencing rapid growth, this funding round is a testament to the potential of the industry and the attractiveness of the market to international investors.