Day: August 27, 2020

Fintechs Latam reaches $8 billion investment

A total of 1,075 Fintech companies from Brazil, Mexico, Argentina, Colombia and Chile were raised with $8,092.2 million in funds by 2020, according to KoreFusion. From there, three main categories stand out: Payments, Loans and Digital Banks, which concentrate more than 95% of the financing. Brazil is the country that accounts for most of the investment, representing almost 77% ($6.2 billion) of the total. It is followed by Mexico with 16% ($1.3 billion), followed by Argentina with 3.6% ($295.9 million), Colombia with 3.5% ($284.5 million) and Chile with 0.1% ($11.8 million).

Argentine satellite Saocom will be launched this Friday after 17 years of work

Next Friday, the Argentine Microwave Observation Satellite (Saocom) 1B will be launched from the Cape Canaveral Space Center, United States. The development of the Saocom Mission demanded 17 years of work, more than 80 technological companies and about 800 specialists in different branches of engineering, physics, mathematics and computer science participated. The satellite will obtain and broadcast perfect quality images and information about the soil water levels, which is essential for agriculture, and will also provide information about the presence of ships in areas under Argentine jurisdiction.

Real estate sales in the City fell 82% in July

The number of deeds of sale of real estate registered in July a drop of 82% in the city of Buenos Aires compared to the same month last year, due to the restrictions faced by the activity of the coronavirus pandemic. In July, 573 transactions were closed, an 82% year-on-year drop, for an amount of $152.8 million, 41.9% less than the previous year.

Private sector financing grew by 5.6% in June

During the month of June, financing in pesos to the private sector increased by 1.4% in real terms and accumulated year-on-year increase of 5.6%. “This performance was partly explained by the new credit assistance focused on MSMEs. The BCRA reports that up to the third week of August, nearly 241,000 loans were granted through the particular line for MSMEs, with a nominal annual rate of 24% (below the market rate), totalling 390 billion pesos ($5.29 bn) in disbursements.

Newsan: with a $10 mn investment inaugurated a new line of washing machines

Yesterday, Newsan inaugurated a new production line exclusively for the manufacture of LG washing machines in the industrial establishment of Avellaneda, Province of Buenos Aires, where it made a $10 million investment, in addition to the $50 million that the company has invested in its production plant in Avellaneda. This new line will allow a production capacity of up to 100 thousand units per year.