The advantages of having open communication between different products and services are nearly infinite for credit scoring, moving money between bank accounts and spanning verticals like the neobanks, credit providers and personal finance products Latin Americans use every day.
Carousell Group has acquired Ox Street, an end-to-end marketplace for authenticated sneakers and streetwear in Southeast Asia. Following Carousell Group’s US$100 million investment from STIC Investments in September, this acquisition underpins the group’s strategic priority to accelerate its recommerce growth in Greater Southeast Asia. Ox Street will continue to operate as its own brand, retaining its name, platform, and team. According to Carousell, the acquisition will drive a synergistic partnership between the marketplaces.
VCs continue to funnel money into the region. Brazil and Mexico, the two largest markets in terms of population and economic activity, have shown the biggest uptick in startup funding. The Association for Private Capital Investment in Latin America (LAVCA), a not-for-profit membership organization, reports that VCs invested $10.3 billion in more than 400 Latin America startups in the first half of 2021, doubling the investment in the same period in 2020. Brazil is home to 53% of Latin-America startups, while Mexico contributes 14%.
Salesforce has reversed course on its bid to acquire data management and integration platform Informatica a source has told Reuters. Informatica itself said that it is not in talks to be acquired. Salesforce stocks rose on this latest news while Informatica’s fell.