Mexico City, December 5th, 2019.- Latinia, the financial services software vendor, has announced its recent investment in Flink, one of the recently born neobanks that are leading the new wave of financial services for millennials in Mexico. “Despite our sharp B2B profile, that accumulate 90% of our investments through the Startupbootcamp Fintech program lead by Finnovista, we believe that we cannot avoid the demand that currently exists around neobanks in the region. That is the reason why we have decided to fund Flink on his way to becoming the preferred option of the new Mexican generations,” explains Oriol Ros, director of corporate development at Latinia and head of the corporate fund of the software company.
Flink has just announced that its banking alternative has achieved a reach of 100,000 clients, with more than 1,500 new customers per day and a level of interaction within its application far superior to that of any other bank. “We greatly value Latinia’s contribution not only financially, but also for its B2B experience in the financial industry and in the field of notifications,” says Sergio Jiménez, CEO from Flink.
According to Thiago Paiva, an expert in the fintech industry, “neobanks in Latin America have the perfect conditions to continue growing, given the low bankarization rate and high penetration of smartphones in the region. “After the phenomenon of Nubank in Brazil, and its impressive progress, now all eyes are on the Mexican market, where there is a lot of potential growth,” he says. “Neobanks’ customers exhibit a sense of belonging never seen in the financial industry, they are proud to be part of their community, it is something cool for them,” concludes Oriol Ros of Latinia.
Latinia is both partner and investor, together with Visa, Scotiabank, HSBC Mexico, Banregio, and IGNIA, of Startupbootcamp, the largest acceleration and scaling program for fintech startups in Latin America, with more than 40 companyies funded thease last three years. The Catalan software vendor has also made follow-on investments in the following fintechs: Belvo and Prometo (Open Banking), Dapp (QR payments), Facturedo (factoring for SMEs), Prestanómico (lending-as-a-service), UALET (robo-advisor) and Tu Identidad (KYC, biometrics).