Hey, it’s Yoel 👋 Back again with the 75th edition of Dealflow LatAm: your go-to source for all the deals, moves, and momentum in the region’s startup scene.

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

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Startup funding news 💸

Rounds $1M to $10M:

• 🇧🇷 Tess AI raises $5M to expand globally and relocate to Silicon Valley. The round was led by Hi Ventures, with DYDX Capital and Honeystone participating.

• 🇦🇷 Rexi raises $1.2M pre-seed to automate financial reconciliation with AI, backed by Pear VC, NFX, and others.

Other rounds of funding:

• 🇨🇴🇺🇸 Zolvo joins Y Combinator and raises $500K to build an AI-powered operating system for commercial lending in the U.S.

• 🇧🇷 Recurring Sales CRM raises $170K to build an AI-powered CRM for distributors, backed by Triaxis Capital and Crescera Capital.

M&A transactions 🎊

🇦🇷 Banco Macro acquires 50% of Banco Sáenz to strengthen its digital strategy alongside Personal Pay, pending regulatory approval.

🇧🇷 Vela LatAm acquires Alfasig, Alpino Tecnologia, and ERP Praeter to expand its ERP vertical, backed by Constellation Software (amount undisclosed).

🇧🇷 Capitânia Investimentos acquires 50% of Grupo MNGT’s logistics center for $25M to support expansion and deleveraging.

Investor & accelerator news 🚀

🇧🇷 Cibra launches Seiva and opens a hub at Cubo Itaú to connect with startups and drive agritech innovation.

🇨🇴 Alive Ventures raises $55M for its second fund to back fintech and climate startups in LatAm, with Proparco, FMO, and Acumen.

Opportunities & Deadlines 👀

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

Startup news 💡

🇦🇷 Argentina

• 🇦🇷 Restart launches to deliver enterprise AI solutions, spun off from Iplan, targeting $100M revenue.

• 🇦🇷 Wenance founder Alejandro Muszak faces ongoing legal turmoil as his defense weakens amid fraud charges tied to an alleged Ponzi scheme.

• 🇨🇱🇦🇷 Andes Levers deploys industrial exoskeletons at Argentina’s El Pachón mining project to improve worker safety and productivity.

🇧🇷 Brazil

• 🇧🇷 Magie plans to expand its WhatsApp-based banking platform to businesses and launch credit/FX products, after processing $376M since 2024.

• 🇧🇷 Blips launches Finza to scale equipment financing for SMEs and expand access to productive credit beyond its core business.

• 🇧🇷 Brands Like Bands expands its team-building platform globally, bringing its “teams as bands” model to companies, with a LatAm stop in São Paulo.

🇨🇱 Chile

• 🇨🇱 Shinkansen secures regulatory approval to launch a payments network enabling transfers via phone numbers or IDs.

• 🇨🇱 Buk reports Chile has the highest gender pay gap in the region at 17%, highlighting structural inequalities.

• 🇨🇱 Toku raises $48M to automate enterprise payments with AI, reducing fraud and manual processes.

• 🇨🇱 Incoprovil deploys “Gauss Control” to enhance operational safety, using real-time monitoring to detect fatigue and reduce risks in mining operations.

🇨🇴 Colombia

• 🇦🇷🇨🇴 Lemon expands to Colombia with its Visa card, offering crypto + fiat payments and cashback in digital dollars to drive user growth in LatAm.

• 🇨🇴 Zulu launches zulu48 to let exporters lock FX rates for up to 48 hours, improving predictability in cross-border payments.

• 🇨🇴🌎 Ontop partners with BVNK to launch USD stablecoin accounts, enabling faster cross-border payments for global workers across LatAm.

• 🇪🇸🇨🇴 Getnet (by Santander) expands into Colombia to offer a unified payments platform connecting local merchants across LatAm.

🇲🇽 Mexico

• 🇲🇽 Plata launches as a digital bank in Mexico to expand its financial services, including savings, debit, and payments, after securing a banking license.

• 🇦🇷🇲🇽 Ualá and DriveWealth launch U.S. stock trading in Mexico to democratize access to global equities.

• 🇦🇷🇲🇽 Mercado Pago launches Point Tap in Mexico to enable SMEs to accept contactless card payments directly from smartphones.

• 🇦🇷🇲🇽 Despegar earns “Hecho en México” recognition for its local tech development in the travel sector.

🇵🇪 Peru

• 🇵🇪 Prestamype is recognized as the leading negotiable invoices company in 2025, reinforcing its position in Peru’s growing factoring market.

• 🇵🇪 PedidosYa plans to become the leading delivery app in Peru in 2026, expanding into new verticals and launching fintech products.

🇺🇾 Uruguay

• 🇺🇾 dLocal surpasses $1B in revenue, driven by AI and growth across global emerging markets.

• 🇨🇱 LemonTech expands to Uruguay to deploy AI tools that automate lawyers’ time tracking, aiming to reduce over $120K in annual lost billable hours per firm.

🌎 Other LatAm News

• 🇪🇨 Deuna launches Deuna Veci, a 3,500-point cash-in/cash-out network to bridge digital payments and cash access across Ecuador.

Big company & policy news 💡

🇦🇷🇺🇸 Uber to invest $500M to expand operations and relaunch Uber Eats in Argentina over the next three years.

🇧🇷 Pefisa reports a Pix data leak affecting 28K keys due to system failures, according to the Banco Central do Brasil.

🇧🇷 PicPay shares fall 21% in a week despite strong earnings, amid global market risk-off and fintech sell-off affecting Nu Holdings, StoneCo, and others.

🇧🇷 PicPay reports $94M profit in 2025 (+99% YoY) in its first post-IPO results, with revenue reaching $1.94B.

🇧🇷 Brazil implements new CSLL tax rules raising rates on fintechs and financial institutions to up to 20%, effective April 2026.

🇧🇷 Banco Central do Brasil liquidates Banco Master Múltiplo, which controlled Will Bank, following regulatory intervention.

🇧🇷 Nubank joins Febraban as it moves toward securing a banking license in Brazil.

Interesting reads 💡

🇪🇸 Bernardo Quintero (VirusTotal) published “Lo humanamente posible”

🇪🇸 LifeX Ventures co-founder Iñaki Berenguer spoke at Forinvest about AI’s positive impact on longevity

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