David Velez

Favo enables under-employed entrepreneurs to create new income streams through steady sales commissions from their own local grocery network.

La Haus, which has developed an online real estate marketplace operating in Mexico and Colombia, has secured $100 million in additional funding, including $50 million in equity and $50 million in debt

The company's business boomed amid the pandemic. In January 2020, it had two corporate clients. By December of the same year, it had around 70.

Brazil is a country riven with economic contradictions. It has one of the largest and most profitable banking industries in Latin America, and is among the world’s most developed financial markets.

For most startups, the hardest early challenge is identifying a market and a product to serve it. That wasn’t the case for Nubank CEO David Velez, who knew the potential for success in Brazil.

David Velez needed to fill two key co-founding roles to begin building Nubank — he needed a CTO to lead the engineering side of the business, as Velez didn’t have an engineering background.

It’s easy to assume the name Nubank refers to “new bank,” but that’s not what the founders were going for. The word “nu” in Portuguese means “naked,” and Velez wanted the name to refle

In 2013, Colombian businessman David Velez decided to reinvent the Brazilian banking system. He didn’t speak Portuguese, nor was he an engineer or a banker, but he did have the conviction that the s

Jeeves, which is building an “all-in-one expense management platform” for global startups, is emerging from stealth today with $131 million in total funding, including $31 million in equity and $1

Belvo, a Latin American startup which has built an open finance API platform, announced today it has raised $43 million in a Series A round of funding. A mix of Silicon Valley and Latin American-based

Here in the U.S. the concept of using a driver’s data to decide the cost of auto insurance premiums is not a new one. But in markets like Brazil, the idea is still considered relatively novel. A new

Nearly exactly one month ago, digital real estate platform Loft announced it had closed on $425 million in Series D funding led by New York-based D1 Capital Partners. The round included participation

While the pandemic has left some startups strapped for cash, the aptly-named Brazilian neobank Nubank is swimming in it. This morning, the company announced that it has raised a $400 million Series

The alchemy for a successful startup can be hard to parse. Sometimes, it’s who you know. Sometimes it’s where you go to school. And sometimes it’s what you do. In the case of La Haus

Belvo, a Latin American fintech startup that launched just 12 months ago, has already snagged funding from two of the biggest names in North and South American venture capital. The company is aiming t

Sophia Wood Contributor Share on Twitter Sophia Wood is a Venture Partner at Magma Partners. Sophia is also the co-founder of LatAm List, an English-language Latin American tech news source. More post

Another afternoon, another round of funding for a mobile banking app. This time, it’s Empower Finance, a San Francisco-based company that’s headed up by former Sequoia Capital partner Warr

Two co-founders of Google Pay in India are building a neo-banking platform in the country — and they have already secured backing from three top VC funds. Sujith Narayanan, a veteran payments ex

Brazil continued to churn out unicorns this month, with Curitiba-based Ebanx becoming the first startup from the southern part of the country to top a $1 billion valuation. U.S.-based FTV Capital prov

Kaszek Ventures, the investment firm that has been one of the primary architects of the recent boom in startup financing and growth in Latin America, has just raised $600 million across two new funds.