Hey, it’s Yoel 👋 Back again with the 28th edition of Dealflow LatAm—your go-to source for all the deals, moves, and momentum in the region’s startup scene.

A high-energy week in LatAm: the fundraising scene was on fire, including one that turned Merama into a unicorn. We're also rounding up the biggest raises of the past month, plus a wave of new VC and credit funds unlocking fresh growth opportunities across the region.

Plenty to break down—so let’s get into it 🚀

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This week's newsletter is in collaboration with Finnovista to share the Fintech Radar Colombia 2025, the key report on innovation in Colombia’s Fintech scene. If you're a Fintech operating in the country, don’t miss the chance to be featured.

👇 In our Interesting Reads 💡 section, we’re also featuring an exclusive insight from Jordi Puig, Innovation & Programs Director at Finnosummit, offering a preview of what’s ahead in Colombia’s Fintech landscape.

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Startup funding news 💸

Rounds of $10M+:

• 🇲🇽 Merama becomes a unicorn after raising $215M in equity and debt to scale e-commerce operations. The round included 3G Capital, Advent, SoftBank, Valor Capital, and others. Funds will boost working capital, logistics, and strategic acquisitions across LatAm.

• 🇺🇸🇻🇪 Félix raises $75M Series B to grow its remittance platform in Central America. The round was led by QED Investors, with Monashees, Switch Ventures, and others. Funds will expand services in El Salvador, Honduras, and Guatemala via WhatsApp.

• 🇨🇴 Addi secures $70M in credit lines to scale its platform and expand in LatAm. The round was backed by Goldman Sachs and Fasanara Capital. The funds will support accessible credit solutions and boost its “buy now, pay later” services in Colombia.

Rounds $1M to $10M:

• 🇧🇷 Divibank raises $8.2M to grow its payment solution, Divibank Pay. The round was led by Better Tomorrow Ventures, with support from MAYA Capital and others.

• 🇧🇷 FinanZero raises $7M to accelerate growth in Brazil. The round was led by Webrock Ventures, with participation from existing investors. The funds will be used to invest in AI, infrastructure, and expand loan offerings.

• 🇧🇷 Tempo raises $4.5M to grow its AI assistant on WhatsApp. The round was led by Maya Capital, with Norte, Caravela, and angels participating.

• 🇺🇸🇵🇾 Autograph raises $2.6M pre-seed to develop its AI historian platform. The round was led by NFX, with support from Long Journey, Embedding VC, and Cibersons.

• 🇵🇾 Cibersons raises $2M from global investors to expand its AI-powered memory preservation platform into Silicon Valley.

• 🇦🇷 Autonomy raises $1.5M from Gabriel Martino, Murchison Ventures, and angels to expand its car leasing fintech. The funds will scale its fleet, launch 200 EVs, and grow across Argentina.

• 🇺🇾 Foliume raises $1M to expand its AI insurtech in Europe. The round was led by Pitchdrive and Íope Ventures (Telefónica).

Other rounds of funding:

• 🇧🇷 Jumpstart raises $480K to offer AI-powered credit and advisory services for immigrants. The round included angels like Matthew Allen and Brian Requarth.

• 🇺🇾 Yeda raises $300K from OurCrowd Latam Labs to scale its AI-driven glucose management app. The startup joins a one-year acceleration program with mentorship and growth support.

• 🇨🇱 Latam-GPT secures $250K from CAF via CENIA to build its prototype and train regional AI teams. The project aims to create a culturally relevant language model for LatAm.

• 🇧🇷 EleveCRM receives investment from WeDo Tecnologia to expand operations and enhance its CRM platform. The undisclosed round includes plans for a future acquisition within five years.

M&A transactions 🎊

🇧🇷🤝🇫🇷 AdOpt is acquired by French CMP platform Axeptio to expand in Brazil. The deal strengthens Axeptio’s global reach and leverages AdOpt’s LGPD expertise and client base of over 50,000 sites.

🇧🇷 Grupo Stefanini acquires 60% of Escala 24x7, AWS’s top consulting partner in LatAm. The deal aims to boost cloud service offerings and drive $100M in revenue for Escala 24x7 by 2025.

Investor & accelerator news 🚀

🇧🇷 Patria Investimentos merges Kamaroopin and Igah Ventures to launch Patria High Growth, a $500M VC platform focused on larger checks and secondary deals in LatAm.

🇧🇷🇺🇸 Plug and Play launches $50M fund to back early-stage startups in LatAm, prioritizing Brazil. The fund will invest $50K–$2M in pre-seed to Series A rounds across sectors like fintech, agritech, and energytech.

🇧🇷 Audax Capital launches a $34M agro credit fund, aiming to reach $60M by 2025. The FIDC uses AI for risk analysis and backs the sector’s expected rebound.

🇧🇷 Start Growth launches $2.6M fund to invest in growth-stage startups. The round targets HRtechs, Fintechs, Edtechs, Database, and Martechs, offering capital and strategic support.

🇪🇸🌎 Eatable Adventures launches Raíces, a program to accelerate five Spanish-speaking agrifoodtech startups with up to $1M in funding, connecting innovation across Spain and LatAm.

🇧🇷 FIEMG launches FIEMG Anjos to fund industrial tech startups. The program connects investors with scalable industry-focused solutions.

🇬🇹 Fundea joins The Yield Lab Latam as an investor in its Opportunity Fund, supporting agtech and foodtech startups in LatAm. The fund will back 30 companies in Seed to Series B stages.

🇲🇽🤝🇺🇸 Tec de Monterrey’s EBCT joins the Global Accelerator Network (GAN) to support startup growth. The partnership offers founders global resources, perks, and access to over 200 innovation hubs.

Opportunities & Deadlines 👀

• 🇨🇱 Quintil Lab opens 2025 call for cleantech and mining startups in LatAm. Backed by Corfo and Draper Startup House, it offers up to $500K and Silicon Valley scholarships. Apply by April 10.

• 🇵🇷 Parallel18 launches its 13th global startup cohort offering $40K, mentorship, and a 20-week accelerator in Puerto Rico. Applications are open until April 25.

• 🇦🇷 UNCUYO and Fundación Blockchain launch a Web3 incubator with a 10-week virtual program. Applications are open until April 28.

• 🇧🇷 Sebrae opens applications for the BRICS Women’s Startups Contest to highlight women-led ventures across six categories. Startups can apply until May 4.

• 🇧🇸🌍 Caribbean Venture Collective launches to back founders with Caribbean ties. Founded by Techstars alumni, it offers an equity-free fellowship and investor access, with applications open until June 16.

Startup news 💡

🇦🇷 Argentina

• 🇦🇷 Cocos opens office in Córdoba to expand its regional presence and offer financial tools for local businesses. The move supports liquidity, FX hedging, and capital planning.

• 🇦🇷 Ualabee launches Treep to enhance public transport user experience and boost growth in LatAm, with rewards and a more intuitive platform.

• 🇦🇷 PayGoal and Payway launch Tap To Phone in Argentina, enabling contactless payments via Android phones without POS, boosting financial inclusion in LatAm.

🇧🇷 Brazil

• 🇧🇷🤝🇺🇸 Jazz Tech partners with Sabre to distribute secure virtual cards for travel payments in Brazil. The deal aims to boost efficiency and safety for agencies and suppliers.

• 🇧🇷 Zoop, fintech of iFood, expands embedded finance to let ERPs offer white-label payments and digital accounts.

• 🇧🇷 Itaú and Nubank to offer the new private payroll loan (consignado CLT) starting April 25 via their apps. The rollout aims to expand credit access with 24/7 digital operations.

• 🇧🇷 Salvy adopts a seasonal release model inspired by Silicon Valley to boost product visibility and alignment. The telecom startup aims to triple revenue by end of 2025 after raising $1.7M.

• 🇧🇷 Credix launches $51M FIDC with BTG Pactual to expand AI-powered credit access for SMEs via CrediPay.

🇨🇱 Chile

• 🇨🇱 WISE Innovation Studios partners with Marvel for global AI campaign featuring Deadpool, marking the first Chilean startup collaboration with the entertainment giant.

🇨🇴 Colombia

• 🇨🇴 CLINNG partners with Fecoljuegos to power secure payments in Colombia’s gaming sector. The deal enables fast, regulated transactions and combats illegal betting.

• 🇨🇴 Liquitech and Kredit Plus partner to scale electronic factoring and boost credit access in Colombia.

• 🇨🇴 Sempli reports $18.3M in loans disbursed in 2024 and launches Crédito Flexi for short-term needs. The fintech expects to grow over 40% in 2025, reaching $26.8M in disbursements.

🇲🇽 Mexico

• 🇲🇽 Valiu launches interest-bearing account for SMEs with 5.79% annual returns. The product supports global payment management with no fees or fixed terms.

• 🇨🇷 Impesa prepares to launch in Mexico by May with its AI-powered expense management tool Monibyte, backed by VISA and Google. The fintech aims to grow in major business hubs like Monterrey and CDMX.

🇵🇪 Peru

• 🇨🇱 Geti expands to Peru with its AI-driven e-commerce platform. The SaaS tool helps brands and retailers optimize pricing and product strategies through real-time insights.

• 🇵🇱🤝🇵🇪 Fresh Inset partners with Interoc to bring Vidre+ to Peru. The active packaging tech extends produce shelf life and will support exports of limes, avocados, grapes, and more.

Big company & policy news 💡

🇦🇷 Tether to acquire up to 70% of Adecoagro for over $600M, aiming for control with a minimum 51% stake. The move marks Tether’s push into real-economy investments in LatAm.

🇧🇷🤝🇬🇧 Arqia, Brazil’s largest independent IoT firm, is acquired by UK-based Wireless Logic in LatAm’s biggest IoT deal. The move boosts Wireless Logic’s footprint, adding 3M connected devices and clients like BMW and SumUp.

🇨🇳🇧🇷 Meituan, China’s largest delivery platform, will launch in Brazil by early 2026 to rival iFood. The $130B giant, with 30B annual deliveries, is setting up logistics and tax structures to enter the market.

🇧🇷 Vibra Energia cuts inventory by $154M using predictive AI. The system improves demand forecasting and stock efficiency, boosting operational performance across fuel distribution.

🇸🇻 El Salvador’s LEAD law regulates digital assets and tokenization, enabling private offerings with tax benefits and stricter oversight to foster financial innovation.

Interesting reads 💡

🇧🇷 Alfredo Hahn published “The Digital Real Estate Play: Owning Distribution in the Age of AI”, exploring why acquiring niche media in LatAm can become a powerful go-to-market strategy as AI reshapes customer acquisition.

🇲🇽 Bridge Latam explores a quirky yet intriguing insight: could shorter startup names boost your fundraising odds in LatAm? Their early analysis suggests that startups with names under six letters might have a slight edge in VC success. Coincidence or pattern? They’re digging deeper.

🌎 Jordi Puig shares fresh insights from the latest Fintech Radar Colombia, revealing how the ecosystem is maturing, internationalizing, and embracing new technologies like Open Finance and AI: “Desde Finnosummit mapeamos un ecosistema en Colombia de 394 Fintechs locales en el último Finnovista Fintech Radar Colombia 2024, lo que representa un crecimiento del 5.8% respecto al año anterior. Aunque el ritmo de expansión se ha moderado, esta estabilización refleja una etapa de madurez, con menor tasa de salida y mejores indicadores de sostenibilidad. De hecho, el 45% de las Fintech colombianas superaron los 500 mil dólares en ingresos durante 2023, una cifra significativamente superior al 36.4% de 2021.

Pese a una contracción global en el capital de riesgo durante 2023, el primer trimestre de 2024 trajo señales alentadoras: varias Fintechs colombianas cerraron algunas de las rondas de inversión más grandes de la región, lo que reafirma la confianza del mercado en el país. Al mismo tiempo, más del 60% de las Fintech locales han logrado internacionalizarse con éxito, un indicador clave del nivel de sofisticación del talento y la competitividad del ecosistema.

La presencia de Fintechs extranjeras también crece, representando ya el 30% del mercado colombiano, especialmente provenientes de México, Chile y Estados Unidos. Esta diversidad impulsa la innovación y eleva los estándares del sector. Por su parte, los segmentos más dinámicos del ecosistema son los de crédito, pagos y remesas, y gestión financiera empresarial, que en conjunto concentran más de la mitad de las startups activas.

Colombia también avanza en regulación y adopción tecnológica, con un ecosistema que incorpora con rapidez herramientas como criptomonedas, inteligencia artificial, biometría y, especialmente, Open Finance. Aunque ya se observan avances significativos, el reto está en extender estos marcos regulatorios de manera ágil y equilibrada para no frenar el potencial transformador del sector.“

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