Hey, it’s Yoel 👋 Back again with the 65th edition of Dealflow LatAm: your go-to source for all the deals, moves, and momentum in the region’s startup scene. Wishing everyone a Happy New Year and thank you for joining us for our very first edition of 2026!

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

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Startup funding news 💸

Rounds of $10M+:

• 🇧🇷 UY3 raises $37.2M from Vinci Compass to fund subordinated FIDC quotas and scale its credit infrastructure for fintech partners.

• 🇧🇷 Frete.com raises $28M via FIDC with XP to expand credit for transporters. BTG Pactual and Polígono Capital also participated.

• 🇨🇱 Xepelin raises $20M in a bridge round led by Nazca Ventures to expand in Mexico amid a 40% valuation drop.

• 🇧🇷 Elyx to raise $18.3M to build vertiports for eVTOLs in Brazil. The round is structured by Arton Advisors and targets 6–7 units in major cities.

Rounds $1M to $10M:

• 🇺🇾 Horizon AI raises $3.5M in a seed round led by NXTP to expand its enterprise AI platform across LatAm and prepare for U.S. entry.

• 🇨🇱 Enerlink raises $3.1M to expand EV charging software across LatAm, with new markets like Brazil in sight.

• 🇧🇷 Gedanken raises $2.2M in a round led by Citrino Ventures to enhance AI features and scale its supplier onboarding and risk management platform.

• 🇨🇷 Snap Compliance raises $2M to expand its AI-driven compliance platform across LatAm.

Other rounds of funding:

• 🇨🇱 EGenya raises $600K from Invexor to expand its workforce management platform across industries in Chile.

• 🇨🇴 Galilea raises $500K from a Silicon Valley-backed U.S. fund to scale its digital lending platform. The round was supported by a fund linked to Y Combinator.

• 🇨🇴 Uptime Analytics receives strategic investment from PX Ventures to expand its AI-driven industrial optimization platform across LatAm.

M&A transactions 🎊

🇧🇷 Bemobi acquires Celer from Grupo Casas Bahia for $1.62M to boost its PaaS and payment solutions.

🇨🇱 Acid Labs acquires 2Brains, adding $10M in annual revenue and 160 employees to boost its software services in Chile.

🇨🇱 ComunidadFeliz is acquired by Visma for $70M, marking a major proptech exit in Chile and expanding Visma’s footprint in LatAm property management tech.

Investor & accelerator news 🚀

🇦🇷 Agencia Córdoba Innovar y Emprender proposes a $6.78M fund to boost VC activity and attract startups across LatAm in 2026.

🇧🇷 TQI and BR Angels launch a $910K fund for B2B startups modernizing corporate systems, focusing on data-intensive sectors.

🇧🇷 Bossa Invest enables $13.5M in liquidity from 135 exits, highlighting Brazil’s evolving VC landscape focused on efficient, purpose-driven startups.

🇧🇷 Cainvest, Liqi, and Foxbit launch Brazil’s first bond token, enabling fractional investments in Pemex bonds from $1 via blockchain.

🇧🇷 TQI launches VC fund with BR Angels, investing $186K–$931K USD in B2B startups modernizing digital infrastructure in data-heavy industries.

🇨🇴 CESA, Rockstart LATAM, and ColCapital join forces to boost startup investment in Colombia through education, matchmaking, and access to smart capital.

🇲🇽🤝🇨🇴 Startuplinks and Cuantico VP commit $10M over 10 years to strengthen VC in LatAm through innovative funding and media-for-equity models.

🇵🇪 JAKU Emprende UNSA forms strategic alliance with UTEC Ventures to boost impact-driven startups in Arequipa, supported by the Anglo American Foundation.

Opportunities & Deadlines 👀

• 🇨🇱 Carozzi & Hubtec launch the 2026 Ingredientes del Mañana call to co-create foodtech solutions with researchers and startups; Apply by Jan 22.

• 🇲🇽 Impact Hub CDMX & Fomento Social Banamex open EMERGENTE 2026 for creative ventures with social impact; up to $8k, apply by Jan 31.

• 🇧🇷 GITEX LATAM debuts in SP on Mar 16 2027, bringing the world’s largest tech and innovation event to boost digital transformation and global partnerships.

• 🇲🇽 Bitso Business confirms the Stablecoin Conference LatAm 2026, gathering global leaders on stablecoin innovation in Mexico City; 📅 June 15–16.

Startup news 💡

🇦🇷 Argentina

• 🇦🇷 Helipagos launches Checkout V2, enhancing its digital payments platform with better UX, security, and scalability ahead of expanding into POS solutions.

• 🇦🇷 Banco Comafi and 123Seguro partner to digitize auto insurance sales, blending banking reach with insurtech agility.

• 🇦🇷 Ualá adds life and accident insurance to its app via Allianz, with coverage up to $68k and full digital onboarding.

• 🇦🇷 Klimber surpasses 16M insured in LatAm, expands with embedded microinsurance aiming to reach 91M by 2029.

🇧🇷 Brazil

• 🇧🇷 Carrot debuts circularity credits with Red Door, combining methane cuts and biomass recycling, valued over $153/ton.

• 🇧🇷 Loggi names Viviane Sales as new CEO to drive SME growth and innovation, succeeding Thibaud Lecuyer after six years in leadership.

• 🇧🇷 NG.CASH partners with trap artist Thiago Veigh to launch a co-branded digital account and prepaid card, targeting Gen Z users with exclusive fan perks.

• 🇧🇷 BlackOpal launches GemStone on Plume Network to tokenize credit receivables, enabling instant settlements and global access to tokenized debt.

• 🇧🇷 Koin processed over $16B in LatAm in 2025 with a 97% approval rate, solidifying its role as a leading e-commerce fraud prevention provider.

🇨🇱 Chile

• 🇨🇱 Conectados shuts down and enters liquidation after failing to scale its ID-based payment system, with debts over $1.9M USD.

• 🇨🇱 Flow warns about rising vacation scams; urges users, merchants, and fintechs to boost e-commerce security during LatAm's travel season.

• 🇨🇱 Flow urges stronger cybersecurity during LatAm vacation season to fight rising digital travel scams, warns Luis Alcayaga.

🇨🇴 Colombia

• 🇨🇴 Clinng Payments partners with Kamin to enable real-time business payments via Bre-B, expanding interoperable payment use in Colombia.

• 🇨🇴 Merqueo and Spid shut down all operations in Colombia and will not reopen in 2026, citing financial challenges and strategic refocus.

• 🇨🇴 Cobre Financial gets regulatory approval to operate in Colombia, expanding fintech Cobre’s services into credit and savings.

• 🇨🇴 Gopass hit 6M transactions during the holiday season, doubling 2024’s volume, with 900K+ users and 91% toll coverage across Colombia.

🇲🇽 Mexico

• 🇲🇽 Clara launches TravelPay to streamline corporate travel spend with AI-driven tools and expand its leadership in LatAm expense management.

• 🇲🇽 Prixz boosts its catalog to 15k + SKUs, achieving 98.7% full prescription delivery nationwide to ease access to medications.

🇵🇪 Peru

• 🇵🇪 YaVendió launches Yago, an AI avatar assistant for small businesses, after raising $850k to expand across LatAm.

🇺🇾 Uruguay

• 🇺🇾 Viatik, a Uruguayan carpooling app, wins legal backing as the MTOP revokes its prior order to cease operations, confirming the startup’s activity as legitimate.

🌎 Other LatAm News

• 🇨🇷🤝🇨🇭 Obsidiam and Volcanic Glass partner with Elliptic to enhance stablecoin compliance and transparency in cross-border payments across LatAm.

• 🇺🇾 PedidosYa sees double-digit growth and tops 4,000 partner merchants in Costa Rica, reinforcing its tech and delivery leadership.

• 🇦🇷🇵🇦🇵🇷 Pomelo expands to Panama and Puerto Rico after reaching $100M in five years, doubling revenue yearly with its API-based card solutions.

Big company & policy news 💡

🇦🇷 ARCA confirms virtual wallets like Mercado Pago remain exempt from the check tax—for now—easing fintech sector concerns.

🇦🇷🤝🇻🇪 MercadoLibre eyes Venezuela as a new market, boosting its LatAm expansion narrative amid investor optimism.

🇧🇷 PicPay files for a Nasdaq IPO aiming to raise up to $500M, with Bicycle Capital committing up to $75M as anchor investor.

🇧🇷 Nubank plans to obtain a full banking license in Brazil to strengthen its regulatory position and drive expansion, amid record valuation and investor optimism.

🇨🇱 Startup Chile faces debate over adopting SAFE model for public funding returns, sparking policy discussions on sustainable startup financing in LatAm.

Interesting reads 💡

🇺🇾 Sergio Fogel, cofounder of dLocal, reflects on scaling global payments from LatAm, the strategic IPO move, and how AI now resolves 40% of dev tickets at the company.

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