Belvo, a Latin American open finance platform, clinches fresh $15 million funding investment
Belvo Raises $15 Million to Fuel Financial Innovation in Latin America
Belvo, an Open Finance platform based in Latin America, has secured $15 million in funding to continue developing cutting-edge infrastructure, scale its AI capabilities, and democratise access to financial services.
The funding round was led by Quona Capital, a venture capital fund focused on emerging markets fintech, with participation from existing investors Kaszek, Kibo Ventures, Future Positive, Citi Ventures, and Y Combinator. Nicolás Szekasy, co-founder and managing partner at Kaszek, believes that Belvo is building the backbone of Open Finance in Latin America.
With more than 50 million individuals and businesses connected to its platform, Belvo is at the forefront of financial innovation in the region. The platform enables financial innovators to access and interpret bank and employment data as well as initiate payments directly from bank accounts.
One of Belvo's key offerings is its next-generation Pay by Bank solution in Latin America. This solution is embedded in integrations such as with Mexican fintech Clip’s credit arm, PrestaClip, which uses Belvo to verify income and employment data, automate risk assessments, and enable frictionless loan payments without relying solely on traditional banking histories.
The Pay by Bank solution contributes to financial innovation in the region by expanding credit access for underbanked small and medium-sized business (SMB) owners, facilitating instant, automated, and secure payments, driving financial inclusion, and supporting a broader open finance ecosystem.
Since 2019, the number of digitally banked individuals has more than doubled in Brazil and Mexico due to regulatory developments and platforms like Belvo. Belvo processes approximately two million account-to-account payment transactions monthly, with an annualized total payment volume of over $500 million.
Pablo Viguera and Oriol Tintoré, co-founders and co-chief executive officers of Belvo, called Open Finance a "structural shift" in Latin America. The funding will be used for product development and expansion of Belvo's product range across data and payments.
Rafa de la Guia, partner at Quona Capital, believes that the most transformative Open Finance platforms bring together data and payments in a single offering. He states that Belvo is uniquely positioned to drive the next wave of financial innovation in Latin America.
The funding round also saw Belvo partner with JP Morgan Payments to take recurring payment automation to the next level in Mexico. Belvo serves more than 150 customers, including BBVA, Banamex, Bradesco, Santander, Mercado Libre, and Creditas.
The expansion of Belvo from serving fintechs to also becoming the go-to platform for leading banks underscores the strength of its infrastructure and strategic vision. The platform plays a central role in Latin America’s fintech transformation by enabling more tailored, data-driven financial services that unlock credit and payment options for underserved populations across multiple countries.
There is further reading available about Belvo partnering to improve access to credit in Mexico.
[1] Belvo's Next-Generation Pay by Bank Solution in Latin America (link) [2] Belvo Raises $15 Million to Fuel Financial Innovation in Latin America (link) [3] Belvo Partners with JP Morgan Payments to Take Recurring Payment Automation to the Next Level in Mexico (link) [4] Brazil’s Pix system inspires real-time payments models elsewhere in Latin America (link)
- Belvo, an Open Finance platform, has raised $15 million to develop its infrastructure, scale AI capabilities, and democratize financial services in Latin America, with a focus on fintech, open banking, and payments.
- The Pay by Bank solution by Belvo, a key offering, is embedded in integrations with fintechs like Clip’s credit arm, PrestaClip, facilitating instant, automated, and secure payments, and driving financial inclusion in the region.
- With its next-generation Pay by Bank solution, Belvo is uniquely positioned to drive the next wave of financial innovation in Latin America, bridging the gap in credit access for underbanked small and medium-sized business owners.
- The funding secured by Belvo will be used for product development and expansion of its product range across data and payments, ensuring a more tailored, data-driven financial service ecosystem.
- Belvo's partnership with JP Morgan Payments aims to take recurring payment automation to the next level in Mexico, playing a central role in Latin America’s fintech transformation and serving leading banks in the region.
