Mexico City open-finance API platform for Latin America raised $43m in Series A funding led by Future Positive, Kibo Ventures, and FJ Labs.
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Belvo, LatAm’s answer to Plaid, raises $43m to scale its API for financial services
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So while Belvo’s goals are “similar to the overarching goal[s] of Plaid,” co-founder and co-CEO Pablo Viguera told TechCrunch that Belvo is not merely building a banking API business hoping to connect apps to financial accounts. Instead, Belvo wants to build a finance API, which takes in more information than is normally collected by such systems. Latin America is massively underbanked and unbanked so the more data from more sources, the better.
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