Interest in crypto and DeFi has exploded over the last year in Latin America. There has been a consistent and massive rise in cryptocurrency, including its fundamental blockchain technology. This comes as no surprise. With a fall in government regulated currencies, Latin Americans have turned to virtual money for a safer and more profitable option.
The population of the financially underserved is not completely known in Latin America. According to statistics, it is estimated that the number is about 70% of the population, that is, over 400 million people. This staggering number will allow DeFi to close the gap and bring the obviously needed financial inclusion to the region.
The trend in LatAm is not lost among venture capital firms. Investments in this sector jumped from $68 million in 2020 to $658 million in 2021, according to industry group Lavca.Â
Rapid developments in crypto and digital assets have sparked startups all the way from Mexico to Argentina. In this article, we will zoom in to the investment rounds that have taken place to date (Q1 to Q3, 2022).
1. Credix
DeFi Fintech Credix raises $11.25M to develop a next-generation credit platform
Brazil-based Credix has raised $11.25 million in a Series A round led by Motive Partners & ParaFi Capital. The round was also backed by Valor Capital, Victory Park Capital, MGG Investment Group, Circle Ventures, Abra, Fuse Capital and Claure Group, and angel investors including Ricardo Villa Marina, chairman of Itau LatAm.
Credix enables fintech companies and other non-bank lenders to convert their receivables and real assets into investment capital. All financing happens on-chain using USDC & smart contracts, creating instant efficiencies, settlement, and more transparency.
2. Koibanx
Asset tokenization platform Koibanx raises $22M in investment round
Koibanx, an asset tokenization platform based in Argentina, has raised $22M in its first investment round.
The fintech allows financial entities to tokenize assets and bring…
