Visa invests in Belvo, the open finance API platform

This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

Visa announced its investment in Belvo , API\’s open finance platform. This investment is part of a broader collaboration between the two companies. The two companies recently unveiled a strategic agreement , which aims to help financial institutions and card issuers throughout the Latin American region to take advantage of and implement open finance solutions.

This fact places Visa on the list of investors of Belvo, which already has funds such as Kaszek Ventures, Founders Fund, Y Combinator, Future Positive, Maya Capital and FJ Labs, among others.

\Having built our product and team and grown as a company, we are now entering a new phase where expanding the market and collaborating with various strategic partners is key to delivering reliable and safe solutions at scale to our customers. That is why we are excited to continue working with a strategic partner and investor like Visa, with whom we share a common long-term vision focused on helping not only fintech companies, but also large companies and financial institutions to adopt open finance models and take advantage of the potential of financial data in Latin America, \said Pablo Viguera, co-founder and co-CEO of Belvo.

Belvo already connects through its API platform with more than 50 financial institutions and works with more than 125 clients , including leading fintech and financial companies in Mexico, Brazil and Colombia such as Jeeves, Rappi, Mobills, Ferratum and Higo. These companies use Belvo technology to create reliable and secure connections with their users\’ financial data, as well as to interpret and enrich this information to build innovative financial services.

\At Visa, we believe that open finance has the potential to unleash great collaboration between all participants in the payments ecosystem, while ultimately driving greater financial inclusion and empowering consumers with more choice about how and where. they share their financial data, \added Romina Seltzer, senior vice president of Products and Innovation for Visa in Latin America and the Caribbean.