Hey, it’s Yoel 👋 Back again with the 47th edition of Dealflow LatAm—your go-to source for all the deals, moves, and momentum in the region’s startup scene.

LatAm stayed active this week with big raises, exits, and cross-border plays. 🇧🇷 led with Eve's $230M and Nubank’s record profit, while fintechs and mobility startups expanded across 🇲🇽🇵🇪.

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

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Startup funding news 💸

Rounds of $10M+:

• 🇧🇷 Eve Air Mobility raises $230M to fund operations in Brazil and pursue strategic investments. The round included BNDESPAR, Embraer, and other institutional investors.

Rounds $1M to $10M:

• 🇧🇷 BUSUP raises $5.8M to expand internationally and launch new business lines. The round was led by Bonsai Partners, bringing total funding to $20.7M.

• 🇧🇷 Pipeimob raises $2.78M to expand into rental management and grow its fintech vertical. The seed round was led by Headline.

• 🇲🇽 Kunzapp raises $2M to optimize software and procurement management in LatAm. The round was led by Wollef, with The Hustle Fund, Wayra, Fen Ventures, Tantauco, and Byx Ventures participating.

• 🇧🇷 AlphaGo raises $1.85M to integrate AI into corporate marketing. The pre-seed round was led by Black Mamba Holding to boost platform development and client adoption.

• 🇵🇪 Equip raises $1.4M to digitalize construction material procurement and expand regionally. The seed round was led by Salkantay Ventures and Alaya Capital.

• 🇦🇷 Motivia raises $1.2M to expand its AI health platform in LatAm. The round was led by Alaya Capital and Sancor Seguros Ventures.

Other rounds of funding:

• 🇨🇱 Demafront raises $500K to scale its supply chain planning tech and expand into Mexico. The round will fund platform upgrades and team building in its fifth LatAm market.

• 🇧🇷 Snacks do Johnny raises $370K to expand product lines and grow in Brazil and abroad. The round was led by Investidores.vc, with participation from 32 angels and one unnamed fund.

M&A transactions 🎊

🇧🇷 Mills acquires Next Rental for $33.3M to expand in heavy equipment leasing and integrate advanced telemetry tech from Nevil. Deal strengthens its footprint in key sectors like mining and construction.

🇧🇷 RPE acquires 100% of Elevaty to expand its multichannel engagement and digital billing solutions. The deal boosts RPE’s presence in Brazil’s retail sector.

🇧🇷 SME The New Economy acquires HIAS Group to expand into Portugal and scale its data-driven marketing unit. The move marks SME’s first international step.

🇧🇷 Entre gets central bank green light to acquire Acqio, adding the franchise-based payments fintech to its ecosystem and boosting its digital finance strategy.

🇨🇱 Buk acquires Bemmbo to launch Buk Finanzas, integrating HR and financial automation in one platform. The move strengthens its regional expansion strategy.

Investor & accelerator news 🚀

🇧🇷 NuVentures invests in AI unicorn Perplexity via secondary deal; the startup’s valuation jumped from $520M in 2024 to ~$18B.

Opportunities & Deadlines 👀

• 🇦🇷 eAwards Argentina 2025 offers $10K for startups with social impact; winner competes for $100K at Global eAwards in Lima. Deadline: August 18.

• 🇦🇷🇨🇱 Mercado Libre Experience returns to Santiago on August 27 to connect 5,000+ attendees with top eCommerce leaders.

• 🇪🇺🤝🌎 EU-LAC Digital Accelerator offers €10.5K grants for LatAm & EU startups to develop tech solutions; apply by Aug 31.

• 🇨🇱 Banco de Chile launches 10th Desafío Emprendedor with $162K in prizes for startups and SMEs; applications close Sept 14.

Startup news 💡

🇦🇷 Argentina

• 🇪🇸🇦🇷 Busup, Amazon’s mobility partner, lands in Argentina after raising €2M and expanding across LatAm and Europe.

🇧🇷 Brazil

• 🇧🇷 Polen invests $5.6M in recycling co-ops to scale traceable circular economy and boost social impact in Brazil.

• 🇧🇷 GigU reaches breakeven with $176K MRR and targets $370K/month by year-end, aiming to triple revenue again through 2027.

• 🇧🇷 Nubank posts record $637M profit in Q2 2025 (+42% YoY), with 28% ROE and stable default rates, boosting its international growth—especially in Mexico.

• 🇧🇷 VERT Capital structures $185M in private payroll loans for a bank and two fintechs via FIDCs and debentures.

🇨🇱 Chile

• 🇨🇱 Poliglota.org launches PoliAI to scale AI-powered language learning across LatAm, blending tech with human interaction.

🇨🇴 Colombia

• 🇨🇴 KOA launches in Colombia as a fully digital lender focused on inclusive finance, starting with a no-friction CDT from ~$125.

🇲🇽 Mexico

• 🇲🇽 Qomplement raises pre-seed to launch offline AI assistant for enterprises. The tool cuts costs and boosts data privacy.

• 🇲🇽 Stori hits sustainable profitability with $300M in ARR and targets IPO by 2027, eyeing growth among Mexico’s underbanked.

🇵🇪 Peru

• 🇨🇱🤝🇵🇪 Cardda expands to Peru to automate B2B payments, starting with a key airline client. The move marks its first international step.

• 🇵🇪🤝🇺🇸 Yape partners with Western Union to enable remittance reception from 200+ countries directly in-app. It's the first Peruvian superapp to integrate this service.

🇺🇾 Uruguay

• 🇺🇾🤝🇧🇷 Inswitch partners with Banco Rendimento to bring PIX payments across LatAm, letting Brazilians pay abroad with their preferred method.

• 🇺🇾 dLocal's Composite Rating jumped to 97, with 50% revenue growth and strong institutional buying, leading the payment processing group.

🌎 Other LatAm News

• 🇻🇪 Cashea now drives 45% of BVC financing volume via buy-now-pay-later and bond deals. Originally built in 🇦🇷, it’s reshaping credit access in Venezuela.

Big company & policy news 💡

🇦🇷 Mercado Libre received $51M in tax exemptions in H1 2025 under Argentina’s Knowledge Economy Law, despite austerity measures affecting pensions and public services.

🇨🇳🤝🇧🇷 Keeta (Meituan) sues 99Food in Brazil over alleged anti-competitive “blocking clauses” aimed at stopping its market entry.

Interesting reads 💡

🇧🇷 Tiago Souza, from Startupi, reports that Brazilian salestechs raised $173M in 2024 across 266 startups, with AI adoption and B2B focus driving sector growth and innovation.

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