“Can Belvo turn LatAm open finance regulation into the dominant account-to-account payments and data rail across Brazil and Mexico?”
Founded in 2019 as a Plaid-for-LatAm open finance data aggregator, Belvo expanded from pure banking data aggregation into payment initiation (Pix in Brazil, direct debit in Mexico) and credit/risk insights. In 2026 the company rebranded around an AI-driven platform positioning, signaling a shift from raw API access to higher-margin enriched data products and account-to-account payment infrastructure. The strategic question is whether Belvo can leverage open finance regulation in Brazil and Mexico to become the dominant payments rail across Latin America before global competitors localize.
Belvo processes payments through Belvo Direct Debit (self-operated), Belvo Pix payments (self-operated) and Belvo Pix biometric payments (self-operated). Disclosed money-movement rails: Pix.
Belvo connects to bank accounts through Belvo (self-operated).
The Embedded Finance Index 2026 maps 5 layers in Belvo's stack: Payments / PSP (Belvo Direct Debit (self-operated), Belvo Pix payments (self-operated) and Belvo Pix biometric payments (self-operated)); Money movement (Pix); Open banking (Belvo (self-operated)); Unified APIs (Belvo Employment Data (self-operated)); Transaction enrichment (Belvo Risk Insights (self-operated) and Belvo Enrichment / Categorization (self-operated)).
Belvo was founded by Pablo Viguera and Oriol Tintoré and is founded in 2019, headquartered in Mexico City, Mexico (also São Paulo, Brazil).
Get a read on where your own stack stands against Belvo and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.