Latin America’s biggest digital lender Nubank is planning to take advantage of an impending shakeout in the region’s booming financial technology sector by scooping up acquisitions at bargain prices, according to its chief executive. As rising interest rates and tighter credit restrict flows of venture capital globally, there are warnings that some of the region’s start-ups may struggle, creating attractive targets.
“There’s going to be a rationalisation of some of the fintechs that are in the market, there will probably be some consolidation,” Nubank’s chief executive and founder David Vélez told the Financial Times. “This will enable the survival of the fittest.”
https://www.ft.com/content/61432e87-9e74-4d28-9a45-6310070ad4eb