档案库 · 金融科技 · 战略决策 · 2019–2026
Belvo押注拉美开放金融规则使其成为该地区的Plaid；它们做到了
Belvo构建了拉美开放金融API，押注巴西的Open Finance和Pix Automático会开放银行数据和支付轨道；到2025年4月已连接超5000万用户
Belvo
做的是什么生意
Open-finance API platform ('Plaid of Latin America'): connects apps to users' bank, payroll, tax and employment data for underwriting and onboarding, and powers account-to-account payments (Pix Automático, direct debit) as a Central Bank-regulated PISP in Brazil.
启动资金：US$10M seed (Founders Fund, Kaszek, May 2020), US$43M Series A (Future Positive, Kibo, FJ Labs, June 2021 — the largest LatAm fintech Series A at the time per Crunchbase), US$15M round (Quona Capital, April 2025).
起因
Founded in May 2019 in Mexico by Pablo Viguera (ex-COO of payments app Verse, former Revolut general manager) and Oriol Tintoré (former NASA aerospace engineer and Capella Space founder), Belvo was part of Y Combinator's Winter 2020 batch. The founders saw that Latin America's underbanked majority was still financially active, and bet that open-banking regulation would turn bank data and payment rails into a new infrastructure layer — the Plaid model, at a moment when Visa had just agreed to buy Plaid for US$5.3 billion.
经过
Belvo raised a US$10M seed from Founders Fund and Kaszek in May 2020, then a US$43M Series A in June 2021 — which it says, citing Crunchbase, was the largest Series A ever raised by a Latin American fintech. The regulatory opening arrived on schedule: Brazil's Central Bank began Open Finance in February 2021 and had the first four phases live by April 2024 (61.9 million active consents and 102 billion API calls in 2024), and on June 16, 2025 it launched Pix Automático, one-time-consent recurring bank-to-bank payments, with Belvo in the official pilot as a regulated Payment Initiation Service Provider. By April 2025 Belvo served 150+ customers including BBVA, Banamex, Bradesco, Santander, Mercado Libre and Creditas, with 50M+ users connected and about 2 million monthly account-to-account payment transactions (over US$500M annualized TPV).
结果
Live and scaling: Belvo remains independent, moving from data APIs into Pix Automático, biometric Pix and Mexico direct debit as the regulations it bet on came into force; the wager has become standard infrastructure rather than a regulatory gamble.
背景
Belvo是拉丁美洲开放金融API平台，2019年5月在墨西哥城由Pablo Viguera和Oriol Tintoré创立（Y Combinator 2020年冬）。其赌注是监管机构将强制银行开放数据和支付轨道，而中立的开发者优先API（'拉丁美洲的Plaid'）将成为所有金融科技构建的基础设施——在这个大多数人活跃于金融但缺乏银行服务的地区。
监管方的落地支持了赌注。巴西中央银行于2021年2月开始开放金融，到2024年4月前四个阶段上线（2024年活跃授权6190万，API调用1020亿次），随后于2025年6月16日推出Pix Automático，用于一次性授权的循环支付。Belvo作为中央银行监管的支付发起服务提供商加入官方试点，从数据聚合器转变为支付发起方。
资金和客户随监管推进：1000万美元种子轮（Founders Fund、Kaszek，2020年）、4300万美元A轮（2021年，当时拉美金融科技最大A轮）、1500万美元来自Quona和现有投资者（2025年4月）。当时Belvo服务150多家客户，包括BBVA、Santander、Bradesco、Mercado Libre和Creditas，连接用户超5000万，每月账户到账户交易约200万笔，年化总支付额超5亿美元；Mercado Libre利用其就业数据将墨西哥的信用额度提升20%。
这件事要成立，得有什么
- 拉美多数无银行账户人群仍活跃于金融活动，因此制约因素是基础设施而非需求：银行数据和支付轨道必须开放。
- '拉丁美洲的Plaid'的定位让模式对投资者清晰，以Visa 53亿美元收购Plaid为参照。
- 押注强制的开放金融阶段意味着每个监管期限都转化为产品范围：先是数据，然后是支付，再是Pix Automático。
- 作为受监管的PISP参与官方Pix Automático试点，将合规从成本变为竞争护城河。
可借鉴之处
押注看得见的监管：在强制数据共享和支付轨道之下的API层，无论哪家银行或金融科技最终胜出，都能获利。
后续进展
截至2026年9月，Belvo保持独立并持续扩展：在巴西和墨西哥通过数据（银行、税务、就业）和支付（Pix Automático、生物识别Pix、墨西哥直接借记）变现，服务150多家客户，包括BBVA、Bradesco、Santander和Mercado Libre，截至2025年4月，连接用户超5000万，每月账户到账户交易约200万笔。墨西哥的开放银行框架仍在建设中，哥伦比亚仅起草了强制性规则，因此Belvo下一阶段取决于巴西以外监管机构的上线——同样的赌注，逐市场重复。
资料来源
- Belvo, LatAm's answer to Plaid, raises $43M to scale its API for financial services
- Belvo scores $10M from Founders Fund and Kaszek to scale its API for financial services
- Fintech Belvo Reports $15M In New Funding To Enable Open Finance Growth In Latin America
- Belvo officially introduces Pix Automático
- Banco Central anuncia o Pix automático
- The Status of Open Finance in Latin America in 2025
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