Fintech expansion drives new investment and banking models in Colombia and Mexico

The fintech landscape in Latin America is seeing significant shifts in investment and consumer offerings. In Colombia, the Plataform Equity Private Capital Fund has launched an alternative for individuals and companies to invest starting from 5 million pesos. This vehicle allows indirect investment in Plataform, a fintech specializing in business financing through factoring and confirming. The fund, managed by Progresión, targets a reference annual return of 18% with an investment horizon through 2030.

In Mexico, Soriana is exploring the savings market through its financial partnership with Falabella. The supermarket chain is testing a debit card linked to a savings tool called ‘Alcancía’, which proposes a 15% annual yield on the first 25,000 pesos deposited, with a 7% rate for amounts exceeding that limit. This move aligns with Soriana’s plans to transform into a Popular Financial Society (Sofipo).

Additionally, the digital bank Revolut has launched ‘Revolut Ultra’ in Mexico. This premium membership aims to consolidate various digital subscriptions into a single banking plan. For 1,499 pesos monthly plus VAT, the tier includes 15 subscriptions to services such as ChatGPT Go, Duolingo, NordVPN, and various health and wellness apps, alongside airport lounge access and other financial benefits.