Telecom obtained a $30 mn loan for investments

Telecom Argentina announced yesterday that it had obtained a new international loan for up to $30 million, which will use to purchase equipment to strengthen the country's ICT infrastructure further and continue improving the quality of fixed and mobile connectivity services. The second credit line obtained by Telecom is guaranteed by Finland's official export credit agency, Finnvera plc. In 2019 the company got $96 million.

Fintechs plan to create 5,683 jobs this year

The Argentine fintech ecosystem has 302 companies grouped in 9 areas. It is one of the fastest-growing sectors in job creation. Since 2017 the number of jobs tripled, going from 5,280 jobs to 14,728 employees in May 2021. According to a report prepared by the Chamber together with the Great Place To Work Argentina organization, the sector expects to incorporate 5,683 new positions to end the year with 19,808 employees.

Grupo Santander announced the launch of Santander Consumer with $15.98 mn

Grupo Santander announced yesterday the launch of Santander Consumer for consumer financing. It comes with an initial investment plan of more than 1,500 million pesos ($15.98 mn) and the generation of more than 130 jobs for the next few years. The portfolio of products to be offered includes loans to companies, pledge loans, stock financing loans to dealers, and personal consumer loans.

Argentine startup Pomelo raises $9 million from various investment funds

A startup formed just three months ago by former executives of Naranja X, Mercado Pago, and Mastercard has raised $9 million from a long list of investors, including the founders of Twitter, PayPal, Rappi, Kavak and Auth0. It's called Pomelo, and it will dedicate to provide payment technology for businesses, cards and fintech from Buenos Aires to the entire region. "This is one of the largest seed capital rounds in the history of Latin America".