Belvo has raised USD 10m to further grow its developer-first financial API platform across Latin America.
The round was led by Founders Fund (an early backer of Facebook, SpaceX, Stripe, Airbnb, Spotify and Twilio) and Kaszek Ventures (an early backer of Nubank, Konfio, QuintoAndar, Creditas, Kavak and NotCo).
Belvo has built a developer-first API platform that can be used to access and interpret end-user financial data to build inclusive financial products in Latin America. Developers of popular neobank apps, credit providers, and personal finance tools use Belvo’s API to connect bank accounts to their apps to unlock the power of Open Banking, according to the official press release.
With this funding, the company will invest in product development to expand coverage of its API as well as develop new verticals and developer tools. To accomplish that, in the next 12 months Belvo will look to triple its current team of 25, spread across HQs in Mexico City and Barcelona. The company will hire across technology, product, and business development.
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