Welcome to the 23rd edition of the Dealflow LatAm newsletter: a weekly summary of everything that happened in the LatAm startup and investment ecosystem.

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Startup funding news 💸

Rounds of $15M+:

• 🇧🇷 Capim raises $26.7M Series A to expand its BNPL services and launch a POS terminal. The round was co-led by Valor Capital and QED Investors, with backing from ONEVC, Canary, NXTP, Endeavor, Saison, and Actyus.

• 🇧🇷 Kiwify raises $25.5M through its FIDC to expand its platform and strengthen operations. This follows a $8.5M round in late 2024, led by Itaú BBA.

Rounds $5M to $15M:

• 🇨🇱 Maxxa secures $10.6M from Symbiotics and Delphos to expand SME financing in Chile. The funds will support long-term loans and digital credit evaluation.

• 🇧🇷 Buser raises $5.1M in a media-for-equity deal with 4Equity to boost marketing and brand expansion.

Rounds $1M to $5M:

• 🇧🇷 RediRedi raises $3M to expand its AI-powered digital catalog platform in Brazil, Mexico, and Colombia. The round was led by undisclosed angel investors.

• 🇸🇻 Boxful raises $1.9M pre-seed to expand e-commerce logistics in Central America. Led by Innogen Capital, Carao Ventures, and GAIN.

• 🇧🇷 Sustineri Piscis raises $1.5M via EqSeed to scale lab-grown seafood production and expand infrastructure.

• 🇨🇴 Sytrex raises $1.1M to automate financial processes with AI. The round included Broom Ventures, Aito Capital, Kuiper Ventures, and AAC Capital.

• 🇧🇷 Brick raises $1M seed round to expand AI fraud prevention. Backed by Honey Island, Broom Ventures, and angel investors.

Rounds $500K to $1M:

• 🇲🇽 Yavendió raises $850K pre-seed to scale AI-powered e-commerce sales on WhatsApp. The round was led by Magma Partners, iThink VC, and Semilla Ventures, with angel investors participating.

• 🇧🇷 Loopia raises $630K to expand AI-powered customer service. Led by Funses I, with Ace Ventures, BVC, and Questum.

Other rounds of funding:

• 🇧🇷 Kanastra secures a strategic investment from Citi to boost growth. Backed by Kaszek, Valor Capital, Quona, Atlantico, and QED.

• 🇵🇪 Citi invests in Peruvian fintech Rextie, integrating its FX technology to enhance real-time payments and liquidity. Rextie expects to surpass $7B in exchanged currency by 2024.

M&A transactions 🎊

🇲🇽🤝🇧🇷 Skydropx acquires Frenet for $5.3M and plans to invest $8.5M to expand in Brazil. The logtech aims to grow its customer base and open a new office in Curitiba.

🇧🇷 Paysecure acquires a55 to expand its payment and credit solutions across LatAm. The deal strengthens a55Pay and enhances financial services in Brazil, Mexico, and beyond.

🇧🇷 Nubank acquires Hyperplane to enhance AI-driven financial services. The deal strengthens Nubank’s AI-first strategy, enabling hyper-personalized banking solutions across LatAm.

🇧🇷 FreeBrands acquires 35% of Bewo to expand in the feminine hygiene market. The partnership aims to scale new products and reach $2.5M in revenue over two years.

🇧🇷 Neura acquires ACDI to expand its behavioral research and neuroscience solutions. The deal strengthens its market positioning with advanced consumer insights and brand strategies.

🇧🇷 Trio acquires PayBrokers to expand in online betting and iGaming. The deal aims to strengthen its presence in the sector despite past regulatory challenges.

🇵🇷🤝🇲🇽 Evertec acquires Nubity to expand cloud services in LatAm. The deal strengthens Evertec’s regional presence and enhances its financial technology solutions. Nubity, operating in Mexico and Argentina, serves over 100 clients in 12 countries.

Investor & accelerator news 🚀

🇨🇭🤝🇨🇴 Temenos partners with Latam Fintech Hub to boost Wealthtech in LatAm. The collaboration will drive market expansion, innovation, and financial education in Colombia, Chile, Peru, and Mexico.

🇲🇽🤝🇨🇱 Impact Ventures PSM and Impacta VC launch a $5M fund to back 20 early-stage impact startups in LatAm.

🇬🇧 Mouro Capital doubles down on LatAm, naming Diego Gálvez as Partner. Formerly at Prosus Ventures and SoftBank, he led key fintech investments, including Klar, Clip, and Kavak. Mouro, with $400M AUM, has backed Creditas, Nowports, and PayJoy.

🇲🇽 Levanta.Capital, powered by Adquiere, launches as a free VC directory to simplify fundraising in LatAm. The platform connects startups with 350+ investors, offering funding resources and direct introductions.

🇲🇽 Círculo de Crédito launches a Corporate Venture Capital program to invest in early-stage Mexican startups in AI, cybersecurity, fintech, insurtech, proptech, and HRTech. The initiative offers funding, mentorship, and strategic resources to drive innovation and financial security.

🇧🇴 Bolivia announces three new funds: Startup, Focax, and Focaña. These funds aim to support local startups, enhance industrialization, and promote exports. The initiative will provide capital for risk investments, export sectors, and sugarcane production.

Opportunities & Deadlines 👀

🇧🇷 Prêmio Sebrae Startups offers $160K in prizes; applications close March 28. The winner, announced at Startup Summit 2025, can earn up to $50K.

🇨🇴 StartCo 2025 will bring together 150+ investment funds and 300 startups in Medellín, focusing on EnergyTech, FinTech, and HealthTech. Expected investment: $30M. April 3-4, 2025.

🇵🇷 Parallel18 selects 14 biotech startups for its BioLeap program, offering 12 weeks of mentorship in health tech and AI. Deadline: April 7, 2025.

Startup news 💡

🇦🇷 Argentina

• 🇦🇷 Kigüi shifts to B2B with Kigüi For Business and raises funding from The Yield Lab Latam. The investment will fuel its expansion in Mexico and enhance AI-driven food waste reduction solutions.

• 🇦🇷 Galicia partners with Remitee to enable real-time international transfers via its app, enhancing security and accessibility for users in LatAm, the U.S., and Europe.

🇧🇷 Brazil

• 🇧🇷 Omens launches Isha, a women's health platform focused on personalized wellness and weight management.

• 🇸🇪 Qred pauses its credit fintech operations in Brazil but hasn’t exited, says Webrock Ventures CEO.

🇨🇱 Chile

• 🇨🇱 Filadd grows 150% in Chile, expanding its EdTech platform across LatAm. The startup operates in Argentina, Colombia, and Brazil, helping students prepare for higher education.

🇨🇴 Colombia

• 🇨🇴 Monet surpasses 2M loans and $38M disbursed to combat informal lending in Colombia. The fintech serves 800K+ users, focusing on financial inclusion for underserved populations.

• 🇨🇴 Yuno expands to the Middle East, opening an office in Qatar with support from Invest Qatar. The Colombian payments platform will develop fintech solutions for the region from its new hub.

• 🇨🇴 Rockstart Latam selects 10 startups for its accelerator, each receiving $125K and mentorship. The cohort includes Frontline, Kommy, LingoQuesto, Ruka, Subrik, Tómalo, True Blue, Verticcal, Veta, and Wizzer.

• 🇨🇴🤝🇧🇷 Credibanco and Dock launch Bre-B, an instant payments solution in Colombia. The system will enable real-time transfers, reducing costs and enhancing security while promoting financial inclusion.

🇲🇽 Mexico

• 🇲🇽 CUCEA partners with Platzi to offer online courses and boost employability in 2025-A.

• 🇨🇳 Alibaba Cloud launches its first cloud region in Mexico to support e-commerce, fintech, and more, enhancing the country’s tech ecosystem.

🇺🇾 Uruguay

• 🇺🇾 dLocal reports a record $25.6B TPV (+45% YoY) and $746M revenue (+15% YoY) in 2024. Q4 saw $7.7B TPV (+51% YoY) and $204M revenue (+9% YoY), driven by strong growth in LatAm, Africa, and Asia.

• 🇺🇾 Wenance liquidates assets in Uruguay after a $20M fraud. Only $1.9M recovered; founder Alejandro Muszak remains detained.

🌎 Other LatAm News

• 🇲🇽🤝🇺🇸 Nexo partners with Sphere to enable blockchain-based cross-border payments in Mexico, Brazil, and Argentina. The collaboration will reduce settlement times from days to hours, benefiting businesses, fintechs, and financial institutions.

Big company & policy news 💡

🇦🇷 Mercado Libre invests $3B to expand its fintech operations, aiming to become the largest digital bank in LatAm. The funds will support its credit portfolio and strengthen operations, despite adjusting its strategy for higher-risk segments.

🇲🇽🇧🇷🇦🇷 Representatives from DiDi, Rappi, and policymakers discussed the risks of overregulating gig platforms in LatAm. They emphasized platforms' role in economic inclusion and flexible income generation. The debate continues as the ILO prepares global recommendations on platform work.

Interesting reads 💡

🇪🇸 Anna Piñol (Nfx) wrote “What It Really Takes To Make AI Agents Work“

🇪🇸 Saleiva (Kfund, Tinybird) wrote “Kindness and LLMs”

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