Mexico City-based open finance API platform Belvo has secured $15 million in a funding round led by Quona Capital, with participation from Citi Ventures, Kaszek, Kibo Ventures, Future Positive, and Y Combinator. The funding will be utilized to enhance Belvo’s Open Finance product suite, focusing on data and payments, while also advancing its AI capabilities.
Belvo’s platform allows financial institutions and large enterprises to access and analyze end-user financial data, as well as to facilitate account-to-account payments across Latin America. The company collaborates with major banks and digital entities in Mexico and Brazil, serving over 150 customers, including BBVA, Banamex, Bradesco, Santander, Mercado Libre, and Creditas.
According to Belvo, its financial data, insights, and payments solutions enable customers to enhance credit underwriting processes, streamline account-to-account payment experiences, and optimize user onboarding flows. More than 50 million individuals and businesses have linked their accounts through the platform to share financial information—including banking, fiscal, and employment data—with service providers.
Pablo Viguera and Oriol Tintoré, co-CEOs of Belvo, stated, “Open Finance represents a structural shift in Latin America and has evolved into a tangible reality across the region. At Belvo, we’re building the most advanced platform to help financial institutions and innovators maximize the potential of Open Finance to transform their businesses in unprecedented ways.”