Quinio, a Mexico-based e-commerce aggregator, raised US$40M

Mexican startup Quinio, which raised US$20 million last year in a seed round, now announced the closing of a US$40 million round made up of equity and debt, although without disclosing the amounts of each part. Quinio’s strategy is based on buying mid-sized e-commerce brands with an annual turnover of at least US$250 thousand that sell quality products and have a good reputation among buyers. Quinio already owns several brands in Mexico, Colombia, Chile, and the U.S., in areas such as home, beauty, and health.

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Franq, a Brazilian fintech of “personal bankers,” raised US$12M

November 10, 2022

Franq, an open banking startup based in Florianópolis, Brazil, raised US$12 million in a round led by Quona Capital, a fund focused on emerging market fintechs. Created in 2019, Franq operates by matching personal bankers with up to 50 financial institutions—banks such as Itaú, Bradesco, and Santander, and fintechs, to sell their products to individuals and SMEs. They have around 7,000 of these personal bankers and 70% of Franq’s clients are individuals, while companies represent 30% of the clients.

CDPI Emerging Markets