Hey, it’s Yoel 👋 Back again with the 31st edition of Dealflow LatAm—your go-to source for all the deals, moves, and momentum in the region’s startup scene.

Brazil dominated the headlines this week: 🇧🇷 Exclusif raised $11.4M to expand into Europe, 🇧🇷 Fiserv announced the acquisition of Money Money to boost SME lending, and 🇧🇷 Valor Capital and Canary secured over $200M for new early-stage funds. Beyond Brazil, 🇺🇾 Yeda Health and 🇦🇷 Bugster raised fresh rounds, 🇨🇱 Magical launched a new fund, and 🇵🇪 MiFibra locked in $15M to expand fiber coverage in Peru.

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

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🚨 Reminder: The call for the Finnovista Fintech Radar Colombia 2025 has been extended until April 29. Fintechs operating in Colombia still have time to be featured in this key report, which highlights the latest trends and innovations in the country's Fintech ecosystem.

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Startup funding news 💸

Rounds of $10M+:

• 🇧🇷 Exclusif raises $11.4M to expand operations to Europe. The round was backed by Portugal 2030, supporting the launch of its first factory abroad.

Rounds $1M to $10M:

• 🇧🇷 Frota 162 raises $2M to expand its fleet fine management platform. The round was led by DGF Investimentos.

• 🇧🇷 Nuvia raises $1.8M to expand AI-driven sales solutions for B2B. The round was led by NXTP and Gilgamesh Ventures, with support from other investors.

• 🇧🇷 i4sea raises $1.3M to scale its climate risk management platform. The round was led by Fundo GovTech, managed by KPTL and Cedro Capital.

• 🇧🇷 Fintalk raises $1M to expand its conversational AI platform in retail. The round was led by HiPartners.

Other rounds of funding:

• 🇧🇷 Coalize raises $560K to expand its HR management platform for SMEs. The round was backed by Urca Angels, Grão Venture Capital, Westwood Capital, and Valora Ventures.

• 🇧🇷 e-CROSS raises $300K to simplify cross-border e-commerce in LatAm. The round was led by 500Global.

• 🇺🇾 Yeda Health raises $300K from OurCrowd LATAM Labs and Uruguay Innovation Hub to expand its metabolic health tech across LatAm, starting with gym chains in Brazil.

• 🇦🇷 Bugster secures international funding to grow its AI software testing platform, backed by 500 Global and Galileo Ventures, with clients in Mexico, Colombia, Argentina, and Australia.

• 🇦🇷 Puna Bio receives investment from Corteva Catalyst to expand its regenerative agriculture solutions in the U.S., Brazil, and Paraguay.

M&A transactions 🎊

🇧🇷 Fiserv signs deal to acquire Money Money to expand SME credit and payments solutions in Brazil through its Clover Capital platform.

🇧🇷 Prime Control acquires Infinit.fy to boost SAP and AI solutions, aiming for $13.2M revenue by year-end.

🇧🇷 Dock acquires DM Sociedade de Crédito Direto to enter Brazil’s digital lending market, expanding its financial services and leveraging its $1.5B valuation.

Investor & accelerator news 🚀

🇧🇷 Família Schurmann and X8 Investimentos launch the 8th Wave Fund with $200M to invest globally in up to 80 blue economy and ocean-impact companies.

🇧🇷 Valor Capital and Canary raise over $200M for new early-stage VC funds. Valor Capital targets $250M for its fifth fund, while Canary aims for $120M, now with 85% institutional backing from investors like IFC, BID, and DEG.

🇧🇷 FIP Nordeste Capital Semente to raise $26.4M to invest in up to 30 early-stage startups in Brazil's Northeast. The fund is backed by FINEP, Banco do Nordeste, Triaxis Capital, and Crescera Capital.

🇧🇷 Entrypoint launches a $7M fund to invest up to $140K in 20–30 pre-seed startups. The fund, founded by Rodrigo Terron and Paulo Braga, targets early exits and startups in Brazil and abroad.

🇨🇱 Magical raises $5 M from private investors to launch its third LatAm venture fund targeting early-stage startups.

🇧🇷🇪🇸 Sergio Furio (Creditas) joins Spotahome's board as the company raises $5.4M to expand its digital rental platform.

🇪🇪 Veriff invests $3.2M to open a tech hub in Brazil, starting its LatAm expansion to boost digital identity and anti-fraud solutions.

Opportunities & Deadlines 👀

• 🇦🇷 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.

• 🇨🇱 Start-Up Chile offers non-dilutive co-financing of $15 M–$75 M and 4–8-month acceleration in its 10th BIG program, open to global tech startups until May 9.

• 🇧🇸🌍 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.

• 🇧🇷 South Summit announces the Climate & Bioeconomy edition in Belém, set for July 15–16, focusing on innovation, sustainability, and bioeconomy ahead of COP30.

Startup news 💡

🇦🇷 Argentina

• 🇦🇷 PedidosYa Markets logs 55% sales growth in its 5th year, now running 68 digital supermarkets in 12 provinces with 4,500 products and 10-minute deliveries.

🇧🇷 Brazil

• 🇧🇷 Credix launches a $51M fund to boost credit access for Brazilian SMEs using AI and transaction data, aiming to originate $172M in loans by the end of 2025 and support up to 10,000 companies across LatAm.

• 🇧🇷 Flapper hits breakeven with $8.6M revenue and opens a $1M round to expand its on-demand executive aviation services in Europe, the U.S., and the Middle East.

• 🇧🇷 Grupo if launches if Lab to train brand experience professionals. The initiative targets $2.6M in revenue in 2025.

• 🇧🇷 iFood launches AGI Club, a Brazilian AI community to connect companies, academics, developers, and startups. The initiative aims to foster collaboration and accelerate AI innovation in the country.

🇨🇱 Chile

• 🇨🇱 Finvix selected by Endeavor Miami and Revtech Labs, aims to raise $2.5M to expand its payment and billing automation platform across North America.

• 🇨🇱 Floid partners with Mastercard and Experian to launch instant bank transfer services in the U.S., expanding its Open Finance operations beyond LatAm.

• 🇨🇱 Alprestamo partners with Fintechile to discuss neobank growth and seals a deal with Equifax to boost financial inclusion in Chile.

• 🇨🇱🤝🇨🇭 Klap partners with BPC to launch Visa and Mastercard acquiring services using the SmartVista platform, supporting Chile’s digital transformation under the Chile Digital 2035 initiative.

🇨🇴 Colombia

• 🇨🇴 Minka partners with Servibanca to enable real-time transfers across Colombia’s largest ATM network, expanding Bre-B payment system access nationwide.

• 🇨🇴🤝🇨🇱 Dale! partners with Justo to offer in-app delivery from 800+ restaurants in Bogotá, Medellín and Cali, embedding ordering, payment and tracking directly in the wallet.

• 🇨🇴🤝🇨🇱 Dale! partners with Chilean startup Justo to offer food delivery in Colombia and compete with Rappi.

🇲🇽 Mexico

• 🇲🇽 Hey Banco receives approval from Mexico’s CNBV to operate independently, aiming to complete its split from Banregio and strengthen its full-service digital banking offering by mid-2025.

• 🇲🇽 Edenred México and Uber Eats partner to allow food delivery and grocery payments with digital vouchers.

• 🇲🇽 Despegar partners with Mercado Pago to offer travel discounts, including 10% off during launch week.

🇵🇪 Peru

• 🇵🇪 TECHCO reaches $940K in recurring revenue in under a year, evolving from a startup to a tech ecosystem focused on finance, talent, and data across LatAm.

🇺🇾 Uruguay

• 🇺🇾🤝🇨🇳 dLocal partners with Temu to offer localized digital payment solutions across LatAm, Africa, and Asia.

🌎 Other LatAm News

• 🇧🇷🇨🇴 Sofya and Kintsu (Brazil) and Salva Health (Colombia) receive up to $50K each from the Innovations in Health LatAm program by Village Capital and Johnson & Johnson Foundation.

• 🇧🇷 Z.ro Bank expands to 🇦🇷 🇨🇱 🇵🇪, aiming to boost its B2B financial solutions across LatAm under the leadership of Rafael Lavezzo, targeting 50% revenue growth by 2026.

• 🇨🇷 Tilopay invests $500K to develop new products and expand across Central America, aiming to boost digital payment solutions in sectors like retail, services, and hospitality.

Big company & policy news 💡

🇧🇷 Magalu raises $134M to advance its technology initiatives and consolidate its business ecosystem beyond retail. The round was led by International Finance Corporation (IFC), a member of the World Bank Group.

🇧🇷 Brasil launches the Observatório Nacional Blockchain, a government platform to connect startups, academia, and the public sector, aiming to boost blockchain adoption across strategic industries.

🇨🇱🤝🇵🇪 Videsk partners with BCP to expand its AI-driven video customer service across LatAm.

🇲🇽 Walmart launches Cashi, a digital account and remittance platform in Mexico, aiming to compete with Nu, Mercado Pago, and Spin, leveraging its 3,200+ stores to offer cash services and financial inclusion at scale across LatAm.

🇵🇪 MiFibra raises $15M from Blue like an Orange to expand fiber optic coverage in underserved regions of Peru, aiming to connect over 2M homes and support digital inclusion.

🇨🇳 DiDi invests $70M to expand its mobility services across 87 cities in Argentina. The company strengthens its ecosystem for drivers and passengers beyond Buenos Aires.

Interesting reads 💡

🇧🇷 Gabriel Daros wrote "Brazil’s AI-powered social security app is wrongly rejecting claims" for Rest of World. The article explores how Brazil’s government AI tool, designed to speed up welfare claims, is wrongly denying benefits to vulnerable rural workers, highlighting the risks of excessive automation without human oversight.

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