Open-finance Latin American API platform Belvo is finishing 2021 on a high note. Fresh from a successful round of Series A funding, Belvo has now announced a new strategic partnership with U.S. finance giant Visa to continue developing open finance solutions throughout the region.
Belvo has made a name for itself as an innovator in fintech throughout Latin America, delivering the tech needed by financial institutions and other fintech firms like Jeeves and Ferratum to deliver secure, convenient financial services to their customers. The company raised $43 million in its last funding round, with Visa joined by investors including Kaszek Ventures, Y Combinator, and Future Positive.
For its part, Visa is bullish about what open finance can do for its business in the Americas. Casting Visa’s own history as built on open finance and open payment services, Visa Senior VP of Products and Innovation for the region Romina Seltzer cites the move as part of the company’s “commitment to fostering digital inclusion” and enhancing its ability to provide “innovative and accessible digital payment solutions that help individuals, businesses and governments to participate in the digital economy, enabling them to thrive socially and economically.”