Used Car Seller Volanty Gets $17M From SoftBank
Summary
“We will have hundreds of centers around the country in the coming years,” Volanty Co-founder and CEO Mauricio Feldman told Reuters. Volanty said the funds will help it speed up expansion efforts with new appraisal centers planned in Sao Paulo. While cash remains king in Latin America with around two-thirds of consumers preferring it over credit, the FinTech market is starting to expand, presenting opportunities for venture capitalists and startups. Latin America still doesn’t have its own version of Silicon Valley, but the region is making progress in the digital space with FinTech startups leading the push. With roughly half the population in Latin America unbanked, it presents an opportunity for FinTechs to create solutions, such as mobile payments that can bring greater financial inclusion.