One of Latin America’s most valuable startups is changing the way Brazilians bank

Latin America

“When I started talking to the experts in the industry everybody told me, ‘David, you’re a foreigner. You don’t understand Brazil — these are the most powerful companies in Brazil that you’re going after,” Vlez, who is originally from Colombia, told CNN Business in an interview. They said, “nobody competes with the five banks that own the market. They’re going to crush you. It is impossible to compete.”

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