“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.