• Deal activity in Latin America has dropped for the third quarter in a row, with Q3 2022 having a total of 53 deals, a 29% reduction from the previous quarter. Brazil was the most active country in the region accounting for 28 deals, a 52% share of total deals. Mexico was second with a 26% share of total deals and Colombia was third with 11%.
• Creditas, a consumer loaning start-up that operates a digital platform, was the largest Latin American FinTech deal in Q3 2022 raising $200m in their latest Series F funding round led by Andbank. Creditas used some of the funds to buy the Brazilian banking license of Andorra’s Andbank and will begin accepting deposits. Creditas has also bought mortgage marketplace Kzas, allowing it to offer home loans from other lenders alongside the ones it already originates.
• FinTech is driving financial inclusion in Latin America. As a largely ignored region by traditional banks FinTech adoption continues to be a key player in Latin America’s FinTech growth and success, with more than 58% (388m) of people using FinTech services in Latin American and the Caribbean in 2021.
