Belvo Secures $15M Investment to Revolutionize Latin America’s Open Finance Landscape
In a significant move for the Open Finance landscape in Latin America, Belvo has secured investment from notable venture firms including Kaszek, Kibo Ventures, Future Positive, and Y Combinator. This funding round aims to enhance Belvo’s product offerings in data and payments while advancing its artificial intelligence capabilities.
Belvo’s Impact on Financial Institutions
Belvo operates a robust platform that allows financial institutions and large enterprises to efficiently access and interpret end-user financial data. Additionally, it facilitates seamless account-to-account payments across Latin America. The company serves over 150 clients, including top-tier banks and digital platforms such as:
- BBVA
- Banamex
- Bradesco
- Santander
- Mercado Libre
- Creditas
Transforming Financial Services
Belvo’s comprehensive suite of financial data, insights, and payments products empowers its customers to:
- Create improved credit underwriting processes.
- Simplify account-to-account payment experiences.
- Optimize user onboarding flows.
Over 50 million individuals and businesses have connected their accounts through Belvo’s platform, sharing vital financial data—including banking, fiscal, and employment information—with various financial service providers.
The Future of Open Finance in Latin America
Pablo Viguera and Oriol Tintoré, the co-CEOs of Belvo, emphasize the transformative potential of Open Finance in the region: “Open Finance represents a structural shift in Latin America and has evolved into a tangible reality across the region. At Belvo, we’re building the most advanced platform to help financial institutions and innovators make the most out of Open Finance to power their businesses in unprecedented ways.”
For further insights into how Open Finance is reshaping the financial landscape, consider exploring additional resources on Open Finance initiatives and their implications for developers and financial institutions.
