Welcome to the 21st edition of the Dealflow LatAm newsletter: a weekly summary of everything that happened in the LatAm startup and investment ecosystem.
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🇧🇷 iCred raises $61M for INSS payroll loans. The fintech has secured over $500M via FIDCs and aims for $800M by 2025.
🇧🇷 Turbi raises $56.5M in equity and debt to expand its fleet. The round includes a $50M debenture issuance and a $14.5M Series D, supporting its transition to a fully owned vehicle fleet.
🇲🇽 Aplazo secures $35.5M from BBVA Spark to expand its BNPL platform. The funding will enhance its technology infrastructure and scale operations in Mexico.
🇧🇷 Alice raises $22M in a Series C extension to expand its corporate health plans. The round, led by Kaszek, ThornTree Capital Partners, Canary, and Globo Ventures, follows a major shift to focus on B2B clients. The funds will support growth and strengthen its market position in Brazil.
🇧🇷 CashU raises $19M through a new FIDC to expand B2B credit for SMBs. The fund is backed by Itaú BBA and Credit Saison to enhance AI-driven lending solutions.
🇦🇷 Glim raises $3.5M to expand its blockchain-powered financial wellness platform. The round was led by Skandia, with participation from DCG, ParaFi, MatterScale, Newtopia, Wayra, and angel investors.
🇨🇱 Banca.me secures $2M in debt financing to expand its SaaS product line. The fintech, which has surpassed $4M in loans and serves over 6,000 clients, leverages Open Finance and AI for financial inclusion.
🇦🇷 CALICE raises $1.5M to advance AI-powered virtual crop testing. The seed round was led by Draper Cygnus, with support from Xperiment Ventures, Air Capital, Innventure, and GrainCorp Ventures.
🇨🇴🇦🇷 Quix raises $350K to expand its AI-powered corporate training platform in LatAm. The round was backed by Mr. Pink and Venture.Do.
🇺🇾 Lineup.surf raises $210K to expand its AI-driven surf forecasting platform locally and internationally.
🇧🇷 Lunatic Monkey raises $61K pre-seed to expand its AI-driven customer relationship platform. The round was led by VENTIUR Smart Capital, ACI Startups, and Prado Tech.
🇧🇷 Clube do Presidente secures funding from Equity Fund Group to expand its e-commerce platform. The investment aims to grow its user base to 1M and boost sales to $10M by 2025.
🇦🇷 Wise CX secures reinvestment from Wayra (Telefónica) to expand in Brazil and Spain. The startup, specializing in customer experience solutions, surpassed $16M in ARR in 2024. The funds will enhance its AI-driven platform and strengthen its presence in key markets.
🇦🇷 MeCubro receives investment from Natan Ventures (Grupo BIND) to expand its on-demand insurance platform for independent workers.
🇧🇷 BRITech acquires IT4 Finance and Sisfinance to expand its investment management SaaS portfolio. Deal terms were not disclosed.
🇧🇷 Jeitto acquires Pilla to expand into payroll-deductible loans. The deal enhances its credit offerings with lower interest rates and repayment terms of up to 48 months.
🇧🇷 Agger acquires Trindade Tecnologia to expand into health insurance solutions. The deal strengthens its portfolio and is expected to boost revenue by 20% in 2025.
🇧🇷 MetaApply acquires a 53% stake in IE Intercâmbio to expand in LatAm. The deal includes a $4M investment over three years and plans for expansion into Mexico and Colombia.
🇨🇱 Rocktruck accelerates growth after LipiAndes acquires a 70% stake. The deal helped boost revenue by 49% to $20M in 2024 and expand its electric truck fleet.
🇨🇱🤝🇦🇷 Grey Capital partners with Bestlife to expand in LatAm. The Chilean wealth management firm will now be represented by Bestlife in Argentina, Peru, Uruguay, Venezuela, and Bolivia. The alliance aims to grow Grey Capital’s financial wellness program, increasing its reach from 700,000 to 1 million clients.
🇦🇷 Koi Venture has invested over $500K in impact-driven startups since its 2022 launch. The firm offers a software factory, accelerator, tech academies, investment fund, and idea lab to support entrepreneurs focused on social and environmental impact.
🇧🇷 Grupo Boticário launches startup acceleration program in beauty and retail. Applications close on February 12. The company plans to invest $17.5M over the next four years.
🇧🇷 Ade Sampa offers free financial training for small entrepreneurs in São Paulo. The program includes workshops, mentoring, and certification. Registration is now open.
🇧🇷 Crawly joins NVIDIA Inception to enhance AI automation. The program provides access to advanced GPUs, specialized tools, and global networking to accelerate innovation.
🇧🇷 Medipreço reaches breakeven and targets $9M revenue by 2027 with its subsidized medicine plan, serving 500K+ users across 1,400 companies, including Danone and ArcelorMittal.
🇧🇷 Pilotin to launch an AI-powered Open Finance app in Brazil, enhancing credit access with alternative data. Investors include Denis Minev (Bemol) and David Mourão (Linker).
🇨🇱 Zapia integrates DeepSeek to enhance its AI assistant while expanding in Mexico. The update improves security by operating on U.S. servers, ensuring stricter data privacy for LatAm users.
🇺🇾 OrderEAT expands to Chile, targeting 25 schools by March 2025. The startup, already in five LatAm countries, plans further growth in Brazil.
🇧🇷 Nubank launches Nu Plus in Colombia, offering cashback, lower interest rates, and higher savings returns.
🇲🇽 Stori partners with Atlas FC and Santos Laguna to launch co-branded credit cards, investing $20M to boost financial inclusion in Jalisco and Coahuila. The cards offer cashback, no annual fees, and exclusive fan benefits.
🇲🇽 Leadsales joins NVIDIA Inception to enhance AI-powered sales management for SMBs in LatAm. The partnership boosts its predictive lead scoring and automation tools for WhatsApp-based CRM.
🇲🇽 Inter.mx aims to reach 1M insured customers in 2025, expanding its digital-first insurance offerings. The insurtech holds 30% of Mexico’s digital insurance market and invests 60% of its budget in innovation to develop new products.
🇲🇽 iVentas grew 200% in 2024 and expanded its AI sales automation platform. It plans to enter Colombia, Chile, and Brazil and raise VC funding in 2025.
🇦🇷 Belo expands to Mexico, launching a crypto wallet and card in 2022. The platform enables users to store, send, and spend crypto seamlessly.
🇸🇻🤝🇦🇷 n1co partners with Sostengo to launch “Protecciones n1co powered by Sostengo” in El Salvador. The neobank integrates accessible insurance solutions into its app, covering vehicles, health, travel, sports, pets, and families.
🇧🇷 StartSe and the São Paulo State Government launch a free AI course to train 1 million Brazilians. The "IA para Todos" initiative covers fundamental AI concepts, ethics, social impact, and practical applications. The course is open to the public with no prior knowledge required.
🇧🇷 SONDA Brasil expands startup partnerships in logistics, healthcare, retail, and finance, focusing on AI solutions. The company offers market access but has no plans for acquisitions.
🇦🇷 Argentina's eCommerce reached a record $22 billion in sales, growing 181% YoY. Digital wallets surpassed credit and debit cards in user adoption, though cards remain the top payment method. Leading categories include travel, food, and tech. 76% of businesses expect 2025 to be even better.
🌎 Anna Heim wrote "Why Latin American SaaS startups are different from their US peers" on TechCrunch, exploring how LatAm SaaS companies operate with higher efficiency but face capital constraints. The article highlights how startups like Clicksign compete with global giants like DocuSign and how AI could reshape the industry.
