A Dozen Latin America Startups Flagged as Top Unicorn Candidates

Despite a tough fundraising climate, Distrito flagged a dozen Latin American startups as potential unicorns for 2025. The AI-driven business platform highlighted companies like Stark Bank (Brazilian fintech backed by Bezos Expeditions), Pomelo (Argentina-based payments infrastructure startup), and Kueski (Mexican fintech), among others. These firms stood out based on growth metrics like revenue, investment inflows, and workforce expansion. While venture capital in the region climbed to $4.5 billion in 2024, it's still far from the $16 billion boom seen during the pandemic. [Bloomberg]

Visa: Cross-Border Payment Habits Reveal Market in Flux

Visa found that 77% of global consumers use multiple payment methods for cross-border transactions, signaling a market in transition. The $250 trillion industry sees digital payment services like PayPal gaining ground in e-commerce while traditional bank transfers dominate remittances. Regional habits vary—Singapore embraces digital payments, Canada sticks to credit cards, and Brazil’s Pix system reshapes international spending. Security remains a top concern, with 88% of consumers expecting enhanced fraud protections, especially in high-remittance markets like the UAE and the Philippines. [FinTech Magazine]

[UK] FCA steps up action against misleading financial adverts

The FCA ramped up its crackdown on misleading financial promotions in 2024, leading to nearly 20,000 ads being withdrawn or amended—almost double the previous year. Crypto assets, debt solutions, and claims management companies (CMCs) were major offenders, with 9,197 CMC promotions pulled, many targeting vulnerable consumers. The regulator also aimed at social media, interviewing 20 "finfluencers" under cau” and urging platforms to curb illegal ads. The FCA introduced the Section 21 Gateway to tighten oversight, requiring firms to get approval before promoting financial products. [FCA]

[UK] Growth in household debt levels has been slowing since the beginning of 2022.

Household debt continued its long-term decline, hitting 120% of disposable income in Q3 2024—well below its 2008 peak of 156.4%. Mortgage rates eased slightly, with the average Standard Variable Rate at 7.49% in January 2025 and 2-year fixed rates at 4.65%. Individual insolvencies in England and Wales fell quarter-over-quarter but were still 15% higher than a year ago, while Northern Ireland saw a sharp 28% annual rise. [UK Economic Indicators]

[LatAm] Sommos: Transforming Financial Inclusion Across Latin America

Sommos, a fintech startup digitizing financial traditions, is expanding financial inclusion across Latin America. Co-founder and COO Yara Lewensztain Zelaya explains how the company’s white-label platform helps banks and financial institutions offer savings and credit access to underserved communities. Originally launched in Bolivia, Sommos has expanded to Peru and Colombia, with plans to reach five countries this year while raising a Seed round. By integrating cultural financial traditions into formal banking, the company is reshaping how millions access credit and build financial stability. [Latam List]

[LatAm] 🎧 Galicia Ventures: Argentina moving from fintech “experiments” to scaleable opportunities

Galicia Ventures, the VC arm of Argentina’s Grupo Galicia, sees the country shifting from a fintech testing ground to a hub for scalable startups. Managing director Sebastián Spena notes that Argentina’s economic instability has fueled innovation, with many founders launching businesses abroad. However, recent economic reforms under President Javier Milei may encourage more startups to scale locally. Galicia Ventures, which invests up to $500,000 in early-stage fintech and agtech startups, has backed firms like Remitee (cross-border payments) and Fudo (food delivery accounting) while also expanding across Latin America. [Global Corporate Venturing]

[Canada] RBC Responds to ‘Rapid Increase in Adoption’ of Digital Banking with Launch of Mobile Mortgages

RBC is stepping up its digital banking game with the launch of mobile mortgage renewals, letting eligible clients renew in minutes through the RBC Mobile app. This move comes in response to a "rapid increase in adoption" of digital services, with mobile sessions up 139% since pre-pandemic levels. While advisors are still available, the bank aims to reduce the stress of mortgage renewals by offering more flexibility and transparency. RBC also introduced an online platform to help applicants track and manage their mortgage process. [Fintech.ca]

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