Belvo Secures $15m in New Round of Funding to Expand Open Finance Access and Innovation Across Latin America

Belvo, the leading Open Finance platform in Latin America, has raised $15 million in funding. The round had participation from Quona Capital, a VC fund focused on emerging markets fintech, as a new investor and existing investors Kaszek, Kibo Ventures, Future Positive, Citi Ventures, and Y Combinator. The new funds will accelerate the expansion of Belvo’s Open Finance product suite across data and payments and advance its AI capabilities to foster the development of more inclusive and personalized financial tools for millions of individuals and businesses across Latin America.

Pablo Viguera and Oriol Tintoré, Co-Founders and Co-CEOs at Belvo, commented: “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 make the most out of Open Finance to power their businesses in unprecedented ways. This new investment will enable us to continue to innovate, develop cutting-edge infrastructure, scale our AI capabilities, and work on our mission to democratize access to financial services to millions of people and businesses in Latin America.”

Belvo’s platform enables financial institutions and large enterprises to access and interpret end-user financial data and initiate account-to-account payments in Latin America. The company works with the majority of the top banks across Mexico and Brazil, alongside the leading digital banks and top innovators in these markets. Belvo serves over 150 customers today, including BBVA, Banamex, Bradesco, Santander, Mercado Libre, and Creditas.

Through its suite of financial data, insights, and payments products, Belvo empowers its customers to create, among others, improved credit underwriting processes, simplified account-to-account payments experiences, and optimized user onboarding flows. In turn, by implementing Open Finance solutions, financial innovators are able to offer products that have already brought tens of millions of unserved or underserved individuals and businesses into the financial system. Belvo’s Open Finance infrastructure, alongside key regulatory developments rolled out across the region, such as Pix in Brazil, has helped drive financial inclusion over the last 5 years. A reflection of this is that, since 2019, the number of digitally banked individuals has more than doubled in Brazil and Mexico.

To date, over 50 million individuals and businesses have connected their accounts through its platform to share financial data – such as banking, fiscal, and employment – with financial services providers. When it comes to payments, Belvo processes close to 2 million account-to-account payment transactions through its platform monthly, representing an annualized Total Payment Volume (TPV) of over $500 million. Belvo’s products allow end-users to connect their bank accounts to third-party services to make payments and include Direct Debit in Mexico, as well as Recurring Pix and Biometric Pix in Brazil. Across both markets, Belvo powers leading local and global merchants and Payments Services Providers (PSPs).

With this new funding, Belvo will scale its connectivity across all relevant financial data sources, both regulated and unregulated, and roll out next-generation pay-by-bank solutions, such as Pix Automático, its variable recurring payments solution in Brazil. Belvo will also continue to invest in its AI capabilities. By applying sophisticated models to billions of financial data points accessed through its platform, Belvo transforms fragmented information into structured insights, creating powerful applications for underwriting, user segmentation, anti-fraud, payment acceptance, and more.

Rafa de la Guia, Partner at Quona Capital, commented: “From our experience across global markets, the most transformative Open Finance platforms will bring together data and payments in a single, seamless offering. Belvo is uniquely positioned to drive the next wave of financial innovation in Latin America—combining best-in-class data capabilities with powerful payment solutions to help institutions better serve millions across the region.”

Nicolás Szekasy, Co-Founder and Managing Partner at Kaszek, commented: “Since our initial investment, we’ve believed Belvo is building the backbone of Open Finance in Latin America. This is not just a technological shift—it’s redefining how millions of people access, experience, and benefit from financial services. As adoption accelerates across the region, it’s clear this is a structural transformation. Belvo’s expansion from initially serving fintechs to also becoming the go-to platform for leading banks underscores the strength of its infrastructure and strategic vision. With regulatory momentum and digital adoption surging in its core markets of Brazil and Mexico, Belvo is well-positioned to lead the next phase of growth in the region’s Open Finance ecosystem.