This Mexican fintech isn’t too worried about Trump’s tariff threats

The large story

Trump’s tariff threats don’t scare this Mexican fintech

Mexico’s financial improvement has made it a fertile floor for startups. However the development is below risk if President-elect Donald Trump follows by together with his plans to take a more durable line on commerce with Mexico.

Jaime Tabachnik, co-founder and CEO of Mexican trucking finance startup Solvento, isn’t too nervous, although. Solvento simply closed its $12.5 million Series A funding round led by enterprise capital agency Cometa.

The agency supplies fashionable monetary providers to trucking firms in Mexico, together with financing and automatic funds. Tabachnik instructed TechCrunch that its merchandise typically enhance transparency and liquidity within the trucking sector.

Evaluation of the week

Latin America fintech may simply be a market to watch in 2025. The quantity of enterprise capital {dollars} invested into fintech firms in LatAm this 12 months has elevated 73% from 2023. And $2.6 billion has been invested in 2024, in comparison with the $1.5 billion invested in 2023.

Whereas these might not sound like large totals, particularly compared to 2021 when $7.5 billion was invested, these numbers present that the market may very well be beginning to flip round.

“I imagine the area is underfunded popping out of the [post] 2021 correction,” QED Buyers accomplice Mike Packer instructed TechCrunch. “We want extra traders to have a look at LatAm as a world alternative and want entrepreneurs to imagine that they will make a distinction and alter issues.”

{Dollars} and cents

Cardless introduced $30 million in funding to develop its co-branded bank card enterprise. The corporate just isn’t disclosing its valuation with this spherical — neither is it indicating whether or not it’s flat, up, or down on its earlier $40 billion valuation.

StoreCash introduced the closing of a $3.7 million seed round led by Black Ops Ventures for its on the spot cash-back app that goals to “assist the common American construct generational wealth.” The corporate has raised $6.4 million to this point.

German fintech unicorn N26 reported its first ever quarterly (pretax) revenue. The challenger financial institution generated a net operating income of €2.8 million through the third quarter of 2024 ($2.9 million at present change charges).