In a whirlwind of announcements, BBVA Spark, a Grupo BBVA project aimed at assisting high-growth businesses, has signed a €20 million financing agreement with Spanish startup Payflow, to further expand in Latin American countries. The goal is to give businesses the agility and financial flexibility they require to thrive.
Meanwhile, Elon Musk’s Starlink is stirring the waters of internet connectivity in Latin America. After its recent debut in Mexico, in partnership with e-commerce giant Mercado Libre, opinions remain divided on whether Starlink will revolutionize internet access or become a costly venture. Mercado Libre is the first authorized provider of Starlink services on the continent, a move seen as significant in the company’s expansion strategy.
The increased cartel-related violence in the LATAM region has driven demand for specialized insurance coverage. Chaucer, a global insurance group, revealed a new extension in their Strike, Riots, and Civil Commotion (SRCC) insurance to cover organized crime incidents. This policy covers material damage in countries like Mexico, Guatemala, Honduras, and El Salvador.
In the electric vehicle (EV) landscape, Chilean startup Evsy has rolled out a new feature that allows users to review and comment on charging stations. The app maps EV charging points and enables direct payments through the platform, making it more user-friendly.
Attom Capital has been launched with an innovative approach to providing liquidity options to startup founders, employees, and early investors through secondary transactions. Instead of waiting for formal exits, Attom will purchase equity directly, thus providing more financial flexibility.
Lastly, a significant leap in Peruvian higher education has been made as the Universidad Nacional de Ingeniería (UNI), Universidad Nacional San Agustín (UNSA) in Arequipa, and the Universidad de Piura (UDEP) have announced plans to move their innovation labs into the metaverse. This ambitious project aims to redefine the concept of educational laboratories and make them more accessible.
All these updates indicate a fast-paced and transformative business environment in the Latin American region. From finance to technology, the landscape is continuously evolving; these are the stories that matter.