Simetrik Secures Funds, World Bank Lowers Growth: Finance Week

This week in finance news: Simetrik raised an additional US$30 million to fuel its US and regional expansion, while Banco Dondé launched MOVIMEX, a debit card combining transportation and financial access in Mexico.

Meanwhile, economic challenges persist as the World Bank lowers growth projections, Mexico's inflation exceeds the central bank's target, and public debt reaches a historic high.

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Simetrik Adds US$30 Million to Series B for US, LatAm Growth

Simetrik, an AI-powered reconciliation platform, has raised an additional US$30 million in funding, bringing its total Series B round to US$85 million. The extension was led by Growth Equity at Goldman Sachs Alternatives and will support the company’s expansion in the United States and key Latin American markets, including Mexico.

Banco Dondé Launches MOVIMEX to Ease Mexican Payments

Mexico-based Banco Dondé launched the MOVIMEX debit card, a new financial tool in the State of Mexico that combines access to public transportation with banking services. The card will help Mexicable users move without needing cash.

World Bank Cuts Global, LatAm Growth Outlook on Trade Tensions

The World Bank lowered its growth forecasts for the global economy and Latin America, citing the effects of increased US tariffs and ongoing trade tensions.

Mexico Hits Record Public Debt Level: Ministry of Finance

Mexico’s public debt has reached an all-time high, according to data from the Ministry of Finance and Public Credit (SHCP). As of the end of April, the historical balance of the public sector’s financial requirements, the broadest measure of national debt, stood at MX$17.5 trillion (US$972 billion). 

Mexico’s Inflation Rises to 4.42%, Above Banxico’s Target Range

Mexico’s inflation hit a six-month high in May, reaching 4.42%, according to the latest Consumer Price Index report released Monday by the National Institute of Statistics and Geography (INEGI). The annual inflation rate rose to 4.42% last month, matching April's figure and marking the highest level since November 2023, when it reached 4.55%.