Americas

Canada attracted the largest fintech deal in the Americas during H2’24—the $6.3 billion buyout of Nuvei by Advent International — while the US accounted for the next four largest deals—the $4.5 billion buyout of Envestnet by Bain Capital, the $2.45 billion buyout of Candescent by Veritas Capital, the $1.6 billion acquisition of Transact Campus by Roper Technologies, and the $1.1 billion acquisition of Bridge by Stripe.

Key H2’24 highlights from the Americas include:

US attracts majority of fintech investment, but Canada sets new record

The US attracted the largest share of fintech investment in the Americas, despite investment falling from $72.8 billion to $50.7 billion year-over-year. Investment in Canada rose to a record $9.4 billion, driven by three buyouts (Nuvei — $6.3 billion, Plusgrade — $1 billion, Copperleaf — $731 million) and several $100 million+ VC deals, including three in H2’24 (Blockstream — $210 million, Q4 — $204 million, Koho — $140 million). During H2’24, the largest deals in Latin America came from outside of Brazil; Argentina-based Ualá’s raised $309 million, while Mexico-based Stori and Kapital raised $212 million and $188 million, respectively.

Regulations continuing to evolve in US despite some uncertainty

During H2’24, the Consumer Financial Protection Bureau (CFPB) issued a number of new regulations, including a rule related to the oversight of digital payments apps⁸ and a rule requiring financial institutions transfer financial data to other providers at an individual’s request.⁹ With a new administration coming in H1’25, however, there is some uncertainty as to whether new regulations will stick.

Crypto space seeing resurgence; increasing interest in stablecoins

In H2’24, there was a notable increase in interest in crypto, particularly following the US election, with Bitcoin surging past the $100k mark for the first time. The was also an increase in interest in crypto infrastructure plays and in stablecoins; in H2’24, Ripple launched its RLUSD with approval by the New York Department of Financial Services.¹⁰

AI gaining traction, but still early days for fintech-focused solutions

General interest in AI-driven innovation surged in 2024, with investors increasingly interested in industry-focused solutions leveraging AI, enhanced automation and machine learning, and generative AI. Despite the intense interest, actual fintech focused solutions were relatively nascent; corporates showed particular interest in AI solutions focused on customer service enablement — using AI to extend the value of employees and help them more quickly address consumer needs.

Fintech gaining ground across Latin America

The fintech ecosystem in Latin America has rapidly expanded outside of Brazil and Mexico, with fintech hubs emerging in countries like Chile, Columbia, Argentina, and Costa Rica, and more mature fintechs expanding across borders. Chile made a major fintech push in 2024, introducing regulations to support its Fintech Act and to regulate activities like crowdfunding, alternative transaction systems, and the custody of financial instruments and services related to the exchange market.