| Welcome to the 17th edition of the Dealflow LatAm newsletter: a weekly summary of everything that happened in the LatAm startup and investment ecosystem.
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🇨🇴 Finmaq raises $29M led by ALIVE Ventures, with 30N Ventures, Accial Capital, and Iris Bank participating. The funds will expand financing for MiPymes in agriculture, health, and construction, addressing LatAm’s $100B credit gap. 🇵🇷 Olé Life, based in Puerto Rico, raises $13M in a Series B round led by PayPal Ventures, with participation from Mundi Ventures, AV8, and Advent Morro. The funds will support Olé Life’s vision to transform life insurance in LatAm by expanding access, launching innovative products, and addressing the region’s $187B protection gap.
🇧🇷 Marvin secures funding from Suzano Ventures to boost sustainability in Suzano’s pulp operations, focusing on yield, water, and carbon management. 🇵🇦 SEED receives funding from the Sui Foundation to develop a Web3 gaming ecosystem for 100M users on the Sui blockchain.
🇧🇷 VTEX acquires Newtail to expand its Retail Media portfolio with over 400 brands, enhancing targeted advertising and innovation in the growing $293B market. 🇧🇷 BuscaOnibus is acquired by DeÔnibus, part of Israel's Travelier Group, to expand services and boost traffic. Both companies will continue operating independently while enhancing collaboration. 🇲🇽 MexPago is acquired by Airwallex, expanding the Australian unicorn’s cross-border payment services to Mexico and supporting SMEs and global businesses. 🇨🇱 Talana acquires Nivelat to enhance its HR platform with gamified learning, improving talent management for over 25,000 users across LatAm. 🇧🇷 Big Bets secures $25M in the first closing of its second fund, targeting a total of $49M. The fund aims to support innovative startups, with Spectra anchoring the round with a contribution of $10M. 🇧🇷 Sicredi’s Comunitá Fund, managed with Ventiur Smart Capital, plans new investments in 2025. With a portfolio of $720K across sectors like agtech and ESG, it offers funding between $82K-$410K for early-stage B2B startups aligned with cooperative needs. 🇨🇱 CORFO announces $16M in projects for Biobío, focusing on lithium production and CO2-free copper smelting. The initiative supports green hydrogen (H2V) development and aims to boost innovation and sustainability in the region. 🇨🇱 FinteChile launches Inscribe tu Fintech, a platform to guide fintech startups in registering with Chile’s CMF by the February 2025 deadline. It offers legal tools, expert webinars, and a regulatory services marketplace to support compliance with the Fintech Law. 🇨🇱 UDD Ventures launches the Scale Capital Sostenible program to support 40 early-stage sustainable ventures in LatAm. The initiative, funded by CORFO, focuses on sustainability, innovation, and investment. Applications are open from January 13 to February 14, 2025. 🇨🇱 Cenco Malls and Bluebox invite startups to the CosmoLab Challenge to innovate in retail real estate. Apply by January 19, 2025, for mentorship, pilots, and collaborations. 🇨🇱 Carozzi launches the Sinergia Innovation Program for startups in efficiency and sustainability. Apply by March 7, 2025, for pilot opportunities and tech access. 🇨🇱 Corfo’s Programa Expande offers up to $25M CLP in subsidies for innovative startups ready to scale nationally or internationally. Applications close on January 23, 2025. 🇨🇱 Climatech Chile will host the Climatech Innovation Summit 2025 in Santiago on April 10-11, focusing on climate tech startups and financing options, with participation from PwC Chile, Banco BCI, Scalex, and The Impact. 🇧🇷 Grupo Pereira launches GPS, an equity-free acceleration program for retail-focused startups with MVPs. Applications are open from January 13 to February 9, 2025. 🇻🇪 HUB BDV Innova, by Banco de Venezuela, invites startups and entrepreneurs to apply until February 9, 2025. The program offers coworking, mentorship, and acceleration for fintech and tech innovations. 🇲🇽 FinTech México Festival 2025 will take place on February 27, 2025. This premier event will feature 2,500 attendees, 70 speakers, and 25 international conferences, aiming to position Mexico as a leader in fintech innovation in LatAm. 🇲🇽 Borderplex Fundraising Sprint, launched by NMSU’s Hunt Center, Startup Chihuahua, and Startup Juárez, supports startups in the Borderplex region with tools to secure funding. The no-cost accelerator runs from March 4 to April 8, with applications open until February 17, 2025.
🇧🇷 M&As in Brazilian startups grew in 2024, surpassing pre-pandemic levels, driven by consolidation and operational adjustments for survival. 🇧🇷 Brazilian startups lead LatAm investments, securing 50% of the region's funding in 2024. Despite global uncertainties, Brazil remains the innovation hub, outpacing Mexico, Argentina, Colombia, and Chile in venture capital. 🇧🇷 ViewSonic partners with Unentel to boost distribution across Brazil, focusing on education, corporate, and gaming sectors with new tech centers and innovative solutions. 🇧🇷 Apprenty shut down after two years despite raising $1.1M in 2023. The pivot to employee management solutions failed to gain traction.
🇲🇽 Jüsto partners with Uber Eats to offer over 6,000 grocery items in Mexico City, Monterrey, and Querétaro, with no minimum purchase required and exclusive savings for Uber One users. 🇲🇽 Kueski surpasses 20M loans in 18 months and is named one of Mexico’s 5 most ethical companies. Its Kueski Pay BNPL and personal loans boost financial access nationwide. 🇲🇽 Trully by Unico combats digital fraud in Mexico with a Digital Fraud Bureau using AI and biometrics for real-time security, aiming to boost trust in the digital economy.
🇦🇷 Dillo, a Córdoba-based startup, joins Google for Startups Cloud, leveraging AI to translate sign language and drive global accessibility and inclusion. 🇦🇷 Sinergium Biotech to produce Pfizer's Prevnar 20 in Argentina by 2026, expanding vaccine access in LatAm through PAHO's Revolving Fund. 🇦🇷 BircleAI was selected by Amazon's global innovation program. The company uses AI to innovate debt collection, standing out among 4,500 applicants worldwide. 🇦🇷 PedidosYa Markets saw a 43% sales increase in 2024, outpacing the e-commerce grocery sector in LatAm, offering fast and convenient deliveries. 🇦🇷 Grupo Cormos quadrupled its revenue to $1M in 2024. It plans to double that in 2025, expanding its healthcare solutions across LatAm. 🇦🇷 Fiwind reached 1 million payments through PIX in Brazil in 2025, offering users a cost-effective and efficient way to manage finances abroad.
🇨🇱 Fraccional enters the U.S. with a Miami real estate project, allowing investments from $300. Plans include expanding in LatAm and Europe, targeting Spain. 🇨🇱 Kinto Share, AppCar, and Lolocar are seeing increased demand for flexible car rentals in Chile this summer, offering SUVs, compact cars, and hybrid fleets.
🇺🇾 Abitab and Fenicio eCommerce join forces to enable online order pickups at 100+ Abitab locations, boosting last-mile logistics. 🇺🇾 Mozart joins Microsoft's and Nvidia's programs. The startup is expanding to Mexico and raising $1M in funding.
🇵🇪 Pluxee enables Google Pay in Peru, offering virtual and physical cards for seamless, eco-friendly payments. 🇵🇪 Franco Zurita wins MIT Innovators Under 35 LATAM 2024 for Monnet Payments, cutting payment refunds from 21 days to 30 minutes across 8 LatAm countries.
🇨🇱🤝🇺🇸 Yuno partners with PayPal to enhance digital payment solutions, offering businesses access to PayPal’s 400M+ active users worldwide and expanding market reach. 🇧🇷🤝🇺🇸 Sensedia teams up with Salt Security to boost API security using AI and real-time traffic analysis to prevent cyberattacks. 🇧🇷🤝🇲🇽 Nubank partners with OXXO to expand cash services in Mexico, adding 22K locations for withdrawals and upcoming deposit options. 🇨🇱🤝🇨🇴 BairesDev and Platzi offer 100 scholarships for women in software development and English. The winners will get access to 1,000+ online courses for a year. 🇲🇽🤝🇺🇸 Belvo and J.P. Morgan Payments partner to streamline recurring payments via direct debits, improving business efficiency in LatAm. 🇺🇾🤝🌍 TraceSurfer partners with the United Nations to provide traceability technology, expanding into eight countries, including Peru, Ecuador, and several in Asia. 🇵🇪🤝🇧🇴 Yape partners with the Asociación Cruceña de Comparsas Carnavaleras (ACCC) to enhance Santa Cruz’s Carnival with digital payment solutions. The initiative aims to modernize transactions while supporting local traditions and the regional economy.
🇲🇽 AWS announces a $5B investment in Mexico, launching a new AWS server region and supporting local economic growth with the addition of 7,000 jobs. 🇧🇷 Elea Data Centers partners with WEG to provide transformers for AI-focused data centers in Brazil, boosting energy efficiency and sustainability. 🇨🇴🇪🇨🇵🇪🇲🇽 Exagon Impact Capital invests in Solar Assets Latin America (SALA), a leading solar energy platform in Colombia, Ecuador, Panama, and Mexico. 🇧🇷 Carlos Simonsen, managing partner at Upload Ventures, shared that AI, health, sustainability, and financial inclusion will drive new unicorns in Brazil's VC scene in 2025. 🇺🇾 Martín Naor, founder of fintech Bankingly, shared insights on the digital transformation in financial institutions in LatAm, emphasizing challenges and the need for faster change. 🇲🇽 In the article "Venture Capital en México: panorama en 2025," the focus is on Mexico's growing VC scene and the country's promising future for investors. It highlights key sectors for investment and the strengthening of Mexico’s entrepreneurial ecosystem.
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