In a significant boost to Latin America’s financial innovation ecosystem, Mexico City-based Open Finance API platform Belvo has secured $15 million in funding, with Quona Capital leading the round and participation from Citi Ventures.

The investment—also backed by Kaszek, Kibo Ventures, Future Positive, and Y Combinator—will support Belvo’s strategic expansion of its Open Finance product suite across data and payments. The funds will also accelerate the company’s advancements in artificial intelligence (AI), enabling smarter compliance analytics and enhanced risk assessment capabilities.

Belvo provides a critical layer of infrastructure in Latin America’s rapidly evolving regulatory technology landscape, empowering financial institutions and enterprise clients to access, interpret, and act on end-user financial data. Its compliance-focused API solutions also support seamless account-to-account payments, aligning with emerging regulatory frameworks in Mexico and Brazil.

With a robust customer base exceeding 150 partners, including BBVA, Banamex, Bradesco, Santander, Mercado Libre, and Creditas, Belvo is positioned as a key enabler of financial data sharing and RegTech solutions in the region. The company’s technology is designed to improve credit underwriting, streamline user onboarding, and enhance fraud detection in compliance with regional data privacy regulations.

To date, over 50 million individuals and businesses have connected their accounts via Belvo’s platform, enabling secure, regulated sharing of banking, fiscal, and employment data with financial service providers. This aligns with broader Know Your Customer (KYC) and Anti-Money Laundering (AML) initiatives, supporting better regulatory compliance and internal controls across the financial sector.

Co-CEOs Pablo Viguera and Oriol Tintoré emphasize the transformative role of Open Finance in the region. “Open Finance represents a structural shift in Latin America and has evolved into a tangible reality across the region,” they stated. “At Belvo, we’re building the most advanced platform to help financial institutions and innovators make the most out of Open Finance to power their businesses in unprecedented ways.”

As the regulatory landscape in Latin America continues to mature, platforms like Belvo are set to play a pivotal role in shaping compliance automation, regulatory reporting, and financial inclusion. This latest funding round underscores growing investor confidence in the region’s RegTech industry and the future of data-driven financial services.