In the past 5 years technology has been transforming the traditional financial industry across the globe.
Fintech startups in various regions are disrupting the way in which businesses and consumers make payments, transfer money, obtain loans and manage their resources.
By adopting new online financial platforms, fintechs are achieving lower costs and reaching excluded segments that now can have a more affordable access to credit. Many of these startups are better adapted to evaluate customers, their behavior and risks, while satisfying expectations that the traditional system have not addressed.
A study by McKinsey reveals that investors deployed $23 billion of venture and growth equity on fintech in the last five years.
In Latin America fintech investments are also on the rise representing about 25% of all IT deals.
Goldman Sachs estimated that there are about 200 fintechs in Brazil with potential to take $24bn in business away from traditional banks.
One of Brazil’s rising stars is Nubank, a financial services startup offering customers a no-fee, low interest credit card that customers can manage with their IOS and Android devices. Nubank has been growing about 10% per month and so far has raised $178 million in equity funds from firms such as Tiger, Sequoia, Kaszek and DST Global, which closed on $80 million in the Series D round, the first DST’s investment in a Brazilian firm.
On Nov 14, join us at eBay headquarters for a conversation with Edward Wible, Nubank’s Co-Founder & CTO, Maxine Manafy, eBay’s Head of Payments and Financial Services, and Ted Rogers, President at Xapo. They will talk about their companies growth and share perspectives on the fintech sector in the U.S., Brazil & the Latin American region.
Co-Founder & CTO at Nubank
Edward Wible is Nubank’s cofounder and CTO. Wible is an American who started his career in consulting at Boston Consulting Group (BCG) and worked as a private equity investor with Francisco Partners. He graduated in Computer Science from Princeton University and has an MBA from INSEAD.
Head of Payments Partnerships and Financial Services at eBay
Before joining eBay, Maxine ran business development for Quixey, a startup focused on mobile search. She also ran Search Global Partnerships at Yahoo where she was responsible for growing Yahoo’s distribution, market share and acquiring content. In her former life, she was a manufacturing engineer at Intel. Maxine has an MBA from the Stanford Graduate School of Business and a bachelor’s degree in IS Engineering from SJSU.
President at Xapo
Ted Rogers serves as President of Xapo, a global bitcoin platform. He has worked in the financial services industry for nearly 20 years. Prior to Xapo, Ted co-founded and served as a General Partner for Arpex Capital, a Sao Paulo-based investment firm backed by the principals of 3G Capital. He graduated from Williams College in 1991 and cum laude from Georgetown University Law School in 1996.
VP, Civil Law Evangelist, Docusign.
Marcos founded Comprova in 2002, and over the course of his 12-year tenure as CEO, he led the company from its nascence to its status as Brazil’s most trusted digital signature provider and certificate authority across a variety of industries. Marcos accepted his current role after the acquisition of Comprova by DocuSign in 2014.
Before founding Comprova, Marcos worked at Mercado Electrônico S.A. and at Banco Nacional.