Mexican fintech startup Solvento has secured a $12.5 million Series A funding round led by venture capital firm Cometa, defying concerns over President-elect Donald Trump's tariff threats against Mexico. The funding is a significant boost to Solvento's mission to provide modern financial services to trucking companies in Mexico, including financing and automated payments.

Solvento's co-founder and CEO, Jaime Tabachnik, expressed confidence in the company's growth prospects, citing the increasing transparency and liquidity in the trucking sector as a result of its products. The funding round is a testament to the company's resilience and adaptability in the face of uncertain trade policies.

The news comes as the Latin American fintech market is showing signs of growth, with a 73% increase in venture capital investments in 2024 compared to 2023. According to QED Investors partner Mike Packer, the region is underfunded and presents a significant opportunity for investors and entrepreneurs. Packer believes that the market is starting to turn around, with $2.6 billion invested in fintech companies in 2024, up from $1.5 billion in 2023.

In other fintech news, Cardless announced a $30 million funding round to expand its co-branded credit card business, while StoreCash closed a $3.7 million seed round for its instant cash-back app aimed at helping Americans build generational wealth. German fintech unicorn N26 reported its first-ever quarterly profit, generating a net operating income of €2.8 million during the third quarter of 2024.

The growth of fintech companies in Latin America and beyond is expected to continue, with 2025 predicted to be a significant year for the industry. As the market continues to evolve, it will be interesting to see how companies like Solvento adapt to changing trade policies and regulatory landscapes.

In related news, the UK has announced new crypto regulations that will include stablecoins and staking services, while Flipkart co-founder Binny Bansal has left PhonePe's board. Revolut is set to launch mortgages, smart ATMs, and business credit products, and Apple Pay, Cash App, PayPal, and other apps will be treated more like banks under new regulations.

As the fintech industry continues to grow and evolve, it's clear that companies like Solvento are leading the charge in providing innovative financial services to underserved markets. With the Latin American fintech market on the rise, it will be exciting to see how these companies shape the future of financial services in the region.