Data on Monday showed annual headline inflation in Mexico stood at 5.80% in the year through the first half of May, well above the central bank's target of 3%, strengthening the case to end an easing cycle. The peso rose 0.4%.
Kavak, which was founded in 2016 and is backed by Japan's SoftBank Group Corp, became Mexico's first tech "unicorn" last October when it reported a valuation of more than $1 billion.
The new capital injection will help Kavak, an online platform for buying and selling secondhand cars operating in Mexico and Argentina, launch in Brazil in the next couple of months, Chief Executive Carlos Garcia said.
That puts it in the top 10 globally of larger countries and compares to 172 days for Brazil and over 1,000 days for Mexico, which has faced delays in its inoculation program.
This global tragedy perhaps gives us the opportunity as Chileans not just to get a shot in the arm but reach out to people and soothe the nation's soul.
The unemployment rate was down from 14.3% in the three months to October, statistics agency IBGE said, slipping further back from the record 14.6% in the three months to September.
The median forecast in a Reuters poll of economists was for an unemployment rate of 14.0%. It ended 2019 at 11.0%.
The latest funding round valued Nubank at roughly $25 billion, according to a source familiar with the matter, more than doubling its valuation since the last funding round in July 2019.
Its loan book is less than 1.5% of Brazil's biggest lender Itau, yet the $25 billion valuation would put it at roughly half of Itau's market value.
Beleaguered Prisa, which is struggling with a huge debt pile, is controlled by activist fund Amber Capital which is led by French investor Joseph Oughourlian.
