Hey, it’s Yoel 👋 Back again with the 34th edition of Dealflow LatAm—your go-to source for all the deals, moves, and momentum in the region’s startup scene.

It’s been a dynamic week across the region: capital is flowing through creative structures, AI and climate-focused initiatives are gaining steam, and cross-border moves continue to reshape the ecosystem. From fintech in Brazil to deeptech in Chile and sustainability in Colombia, the LatAm startup engine isn’t slowing down.

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

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Startup funding news 💸

Rounds of $10M+:

• 🇧🇷 SumUp raises $61M through a new FIDC backed by credit card receivables to expand early payment solutions for small businesses. The structured round involved Itaú BBA, Genial Gestão, and Banco Genial.

• 🇧🇷 Makasí raises $42M to expand credit lines for small and mid-sized builders in Brazil. The funds will support housing projects under the Minha Casa, Minha Vida program and were raised via CRI-backed rounds totaling $84M in under a year.

Rounds $1M to $10M:

• 🇧🇷 Pilar raises $6.5M Series A to expand its high-end real estate platform and enter new verticals. The round was led by Alexia Ventures, with FJ Labs, Endeavor, and others participating.

• 🇨🇱 VMetrix raises $3.2M to scale its investment and treasury management SaaS platform. The round was led by Kayyak Ventures, with participation from Nazca. Funds will support team growth and AI development for expansion across LatAm.

• 🇨🇱 Vestuá raises $2.1M to scale its second-hand fashion platform in Mexico. The round was led by H&M and Manutara, marking H&M’s only LatAm investment to date.

Other rounds of funding:

• 🇧🇷 Datlo raises $700K to scale its AI-driven go-to-market platform and prepare for international expansion. The round was led by Hiker Ventures, with backing from Y Combinator.

• 🇲🇽 BioPlaster raises $650K to build its pilot plant and scale algae-based packaging. Backers include Zenani, Espera, and Amplifica.

• 🇧🇷 Mileto raises $210K to connect Gen Z technical students with job opportunities. The round was backed by Mario Ghio, Anderson Morais, and Simmon Nam.

• 🇦🇷 ElCeroKM raises $200K from Platanus Ventures to scale its 100% online car-buying platform. The startup aims to simplify and digitize new car purchases across Argentina.

• 🇺🇾 Skyblue Analytics raises $120K from Draper House Angel Club to develop AI tools and expand its API platform in LatAm and the U.S.

• 🇧🇷 Silverguard receives new funding to grow its tech team and enhance its AI-driven fraud prevention platform. The round was backed by Sororitê Ventures, marking the fund's second investment.

M&A transactions 🎊

🇳🇱🤝🇦🇷 Prosus completes acquisition of Despegar for $19.50/share, strengthening its LatAm digital lifestyle ecosystem.

🇧🇷 Sankhya acquires Flowbiz to enhance its sales and marketing automation portfolio. The deal strengthens Sankhya’s ERP and CRM capabilities with integrated communication and GenAI-driven tools.

🇧🇷 Vórtx acquires Grafeno to expand its credit infrastructure and boost BaaS and CaaS offerings. The deal includes 15K accounts and adds Grafeno shareholders to Vórtx's cap table.

🇧🇷 Nuvini Group completes acquisition of Brazilian B2B SaaS platform Munddi, marking the first of four planned acquisitions in 2025 to expand its SaaS ecosystem across LatAm.

🇧🇷🤝🇲🇽 Involves acquires Datamind to expand its retail execution solutions in Mexico. The deal boosts its AI-driven platform with real-time data insights and strengthens its LatAm presence.

🇺🇸🤝🇨🇷 Avant Technologies enters acquisition talks to buy Ainnova Tech ahead of an FDA pre-submission for its Vision AI platform. The deal aims to unify efforts in AI-driven early disease detection.

Investor & accelerator news 🚀

🇧🇷 Start Growth launches $875K fund for AI and data startups. The VC seeks scalable B2B/B2C SaaS automating decisions via predictive analytics.

🇧🇷🇺🇸 Wayra Brasil backs Openlayer in Series A to scale its AI reliability platform. The round was led by Quiet Capital, with support from Y Combinator and others.

🇧🇷 Iaris Ventures opens selection for new batch, targeting 8–9 startups by year-end, with 90% of pipeline focused on AI.

🇧🇷 CVC Corp enters a new restructuring phase with 100+ projects, including a 15-year AI-driven tech deal with Amadeus to boost global competitiveness.

🇨🇱 BID Lab and Fundación Chile launch $400K debt fund to back climate-focused startups with up to $40K each, via ChileGlobal Ventures.

🇨🇱 IncubaUdeC launches Fueling The Change, a program to boost female leadership in cleantech through training, mentorship, and a community to close gender gaps in clean energy startups.

🇨🇱 BancoEstado plans to provide $50M in financing to startups and fintechs in 2025, supporting 70 companies and key programs like RutPay and Impacto +.

🇨🇴 BID Lab and Pantera Makers launch a $1M accelerator for 135 bio-businesses in the Colombian Amazon, focusing on sustainability and women-led ventures.

Opportunities & Deadlines 👀

• 🇲🇽 OpenAI and Fintual to host free AI Summit in Mexico City on May 29–30, 2025. Deadline: Until full.

• 🇨🇱 UDD Ventures launches Invest Tech to connect 20 sustainable deeptech startups with angel investors; applications open May 12-26.

• 🇲🇽 incMTY Roadshow 2025 will bring over 1,700 young entrepreneurs to Querétaro for workshops, networking, and a pitch competition with cash prizes. Deadline: May 20, 2025.

• 🇦🇷 CONICET and Merck launch the 5th Health Innovation Award to boost science-based health startups in Argentina. Applications open until May 23, 2025.

• 🇨🇱 Grupo Zenit launches ScaleUp Boost to support science-based startups with funding strategies, IPO readiness, and market expansion. Backed by CORFO, the first cohort includes 40 startups. Deadline: May 24, 2025.

• 🇵🇪 Bioincuba offers free support for Startup Perú 12G applicants seeking up to $41,100 in seed funding. Deadline: May 23, 2025.

• 🇨🇱 Regiones Emprende invites Chilean startups to pitch at its Demo Day on June 12. Applications are open until June 6.

• 🇨🇱 Corfo Biobío opens Semilla Inicia with up to $15K in funding for early-stage startups. Deadline: mid-June 2025.

• 🇧🇸🌍 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.

• 🇨🇱 Transelec Ventures opens a new call for startups to co-develop solutions in market intelligence and operational risk modeling. Deadline: June 23, 2025.

• 🇦🇷 Bayer and Endeavor launch LEGADO 2025 to scale five impact startups across the region. Deadline to apply: June 6, 2025.

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

• 🇲🇽 Daikin launches AirTech Challenge 2025 for HVAC startups. Winners pitch in Monterrey and win a trip to Japan. Deadline: July 31, 2025.

• 🇲🇽 VTEX CONNECT LATAM 2025 returns to Mexico on September 25 to unite digital commerce leaders for networking and innovation.

• 🇨🇱 Transbank and ChileConverge launch a new SME support cycle with free workshops and digital tools running through November 2025.

Startup news 💡

🇦🇷 Argentina

• 🇦🇷 Bipolos launches AI-powered advisor PIA, revolutionizing agro supply purchases by reducing them to 30 seconds for 80,000 users.

• 🇨🇴 Rappi invests $40M to expand in Argentina, focusing on Turbo, new cities, courier support, and AI-driven growth.

🇧🇷 Brazil

• 🇧🇷 Foxbit gets CVM license to run equity crowdfunding using tokenized offerings to connect startups and investors.

• 🇧🇷 Méliuz becomes Brazil’s first public Bitcoin treasury firm, adding $28.4M in Bitcoin to its $33M holdings as a key business strategy.

• 🇺🇸🤝🇧🇷 Pinterest expands its Inclusion Fund and partners with mLabs to support creators and brands in Brazil and LatAm, investing $3.9M.

🇨🇱 Chile

• 🇨🇱 Grünenthal joins GoodPlayers to boost its sustainability and social impact strategy in Chile through tech-driven impact management tools.

• 🇨🇱 ProntoPaga launches neobank Yol1 to lead digital finance in LatAm, investing $10M and seeking $30M more to scale across Brazil, Peru, Chile, and beyond.

🇨🇴 Colombia

• 🇨🇴 Klym disbursed over $145M to support Colombian SMEs with fast-access credit solutions. The fintech aims to assist 2,000 businesses by year-end.

• 🇺🇸 Osigu invests $6M in Colombia to digitalize healthcare with AI, easing admin tasks and improving hospital finances.

🇲🇽 Mexico

• 🇲🇽 Pacto expands its services across Mexico, focusing on strengthening its engineering team to drive technological innovation and market growth.

• 🇲🇽 Ford and VEMO launch e-mobility boost; Ford EV buyers get $256 credit on VEMO’s 1,000+ charging points across Mexico.

• 🇲🇽 Gynecologist Isabel Salas from Sinaloa launches Daisies, an app offering accessible online women’s health services across Mexico.

• 🇧🇷 Koin invests $5M to strengthen its antifraud strategy in e-commerce, focusing on expanding technology and operations in Mexico and LatAm.

🇵🇪 Peru

• 🇨🇱 Rocktruck expands to Peru to transform logistics with tech-driven, human-centered solutions for retail and mass consumption sectors.

🇺🇾 Uruguay

• 🇺🇾 ELdeS expands its AI sign language platform to Spain and Argentina, planning entry to three more countries after winning best inclusive edtech in 2025.

🌎 Other LatAm News

• 🇲🇽 Mattilda launches AI tool Matti IA to streamline school administration and finances across Mexico, Colombia, and Ecuador via WhatsApp.

Big company & policy news 💡

🇦🇷 Mercado Libre strengthens crypto holdings, now owning 570+ BTC valued over $58M, reinforcing its leading role in LatAm’s digital asset market.

🇨🇳🇦🇷 DiDi invests $160M to expand its mobility services across Argentina. The funds will support geographic growth, reward programs for drivers, and improve accessibility through AI-powered features.

🇧🇷 Méliuz becomes Brazil’s first public Bitcoin treasury firm, adding $28.4M in Bitcoin to its $33M holdings as a key business strategy.

🇺🇸🤝🇧🇷 Uber and iFood partner to integrate ride-hailing and delivery services in Brazil, with tests starting in late 2025 and plans for future loyalty program integration.

🇺🇸🇧🇷 Figma opens LatAm hub in São Paulo and launches its platform in Portuguese. The move deepens local operations and marks the start of regional expansion.

🇲🇽 Estadio Azteca becomes Estadio Banorte after a $123M sponsorship and financing deal with Banorte to fund its modernization.

🇦🇷 🇲🇽 Mercado Libre joins Mexico’s Plan México to boost national products, supporting thousands of local artisans and SMEs with digital tools an

🇷🇺🇲🇽 InDrive names Mexico its key market, offering drivers 90% of fares and instant payments, while letting passengers set prices.

🇺🇾 DLocal shares surge 15% after Q1 earnings beat expectations, with $8.1B payment volume and 57% EBITDA growth.

Interesting reads 💡

🇲🇽 Alejandro Diez Barroso, Managing Partner at DILA Capital, published “Why We Invested in Fillip — Betting on the Future of Latin American Sports and Entertainment”. He shares why they backed Fillip, a company turning iconic LatAm sports and entertainment IP into global cultural brands.

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