LatinNews Daily - 30 September 2021

In brief: Mexican SME-lender becomes country’s newest unicorn

* Mexican financial technology (fintech) firm Konfio has announced that it had reached a valuation of US$1.3bn, becoming Mexico’s fourth ‘unicorn’ – a tech start-up valued at over US$1bn. Founded in 2013, the firm, which provides credit to the small and medium-size business sector (SMEs) made the announcement following a fresh funding round in which it received an additional US$110m. Other companies to have reached ‘unicorn’ status in Mexico include Kavak, the leading online platform to buy and sell used cars in the country, cryptocurrency exchange platform Bitso and payment processor Clip.

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