Citigroup acquired a stake in Peruvian FX fintech startup Rextie, though specifics of the deal remain undisclosed. Founded in 2016, Rextie has processed USD 4.5 bln in forex transactions and anticipates reaching USD 7 bln by the end of next year. The company serves 12,000 medium and small businesses and 170,000 individuals in Peru, offering FX, factoring, and payment processing services. This investment comes amid a 54% YoY decline in funding for Latin American startups in Q1 2023, marking the lowest volume in three years.