• Overall there were 26 FinTech seed deals across Latin America in the second quarter of the year with Brazilian companies taking the biggest share with nine deals, or 35% all deals at that stage. Seed activity in the region dropped 47% from the first quarter with Brazil reducing by 46% indicating a maturing sector or a withdrawal from venture capitalists backing early disruptors in financial services sector.
• Kapital, a data-driven neo-bank for SMBs in Latin America, was the largest FinTech seed deal in Latin America during the second quarter of 2022, raising $8.6m in their seed round, led by Tenacity Venture Capital and included 12 other investors. Kapital intends to use the new funds to expand its service technology offerings and to start business operations in Colombia.
