Hey, it’s Yoel 👋 Back again with the 33rd edition of Dealflow LatAm—your go-to source for all the deals, moves, and momentum in the region’s startup scene.

Fewer rounds, but no dull moments: 🇧🇷 Credituz, Allugg, Lara & diio. 🇧🇷 Revelo went shopping again, stacking up two more M&As. 🇦🇷 Tlon Space is aiming way up with the country’s first private rocket. 🌎 Meanwhile, new funds, cross-border alliances, and innovation hubs popped up from 🇵🇪 Lima to 🇻🇪 Caracas.

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

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Startup funding news 💸

Rounds $1M to $10M:

• 🇧🇷 Credituz raises $5.5M to enhance its AI platform and expand real estate financing. The seed round was led by Marc Slezynger, Fabio Alperowitch, and Claudia Massei. Funds will support inclusive credit solutions and automation in the sector.

• 🇧🇷 Allugg raises $5.3M via FIDC to expand equipment rentals for tech companies. The funding, supported by Oslo DTVM, will meet rising demand driven by AI chips and the Windows 10 phase-out.

• 🇧🇷 Lara, a Webrock Ventures-backed fintech, raised ~$4M to expand its point-of-sale lending platform in Brazil. The funds will reconnect clinics and resume credit offerings.

• 🇨🇱 diio raises $2.5M to expand its AI-powered sales platform across LatAm. The seed round was led by Base10 Partners and will enhance its generative AI model for business performance.

Other rounds of funding:

• 🇧🇷 UpMat raises $265K to integrate AI into its edtech platform. The round was led by Potencia Ventures and will support tech upgrades, team expansion, and user growth in Brazilian schools.

• 🇨🇴 MUTA raises an undisclosed amount to scale its recycling tech across LatAm. The round was led by Impacta VC, with SOSV, New Ventures, Vx Ventures, and Epic Angels. Funds will boost digital traceability and inclusion.

• 🇺🇸🇧🇷 Billor, a U.S. fintech founded by Brazilians, raises funds via Inco to grow its freight leasing platform. Backed by receivables, the deal offers 8.5% USD returns to investors.

M&A transactions 🎊

🇧🇷 Revelo acquires Alto and Paretisa to strengthen its position as a leading connector of LatAm tech talent to U.S. companies. With five M&As in two years, the HRTech plans further deals and may raise new funding to fuel its AI-driven growth strategy.

🇧🇷 Sankhya acquires Flowbiz to integrate digital marketing into its ERP platform. The company has allocated $35.4M for future M&As through 2026.

Investor & accelerator news 🚀

🇦🇷 Agencia Córdoba Innovar y Emprender launches two programs offering up to $13.5K to boost startups and SMEs through open innovation.

🇧🇷 PRIO launches a $21M fund, managed by Citrino Ventures, to invest in oil & gas innovation. The fund will back startups focused on production, operations, sustainability, and digital transformation.

🇧🇷 TAG Investimentos launches TAG Edge, a new hub to link structured credit, startups, and large companies. The goal is to build a $530M portfolio over five years focused on sectors like agribusiness, retail, and climate solutions.

🇧🇷 Claro, USP and Fapesp invest $7.6M to create a research center focused on 5G and generative AI technologies.

🇨🇱🤝🇧🇷 SOFOFA Hub partners with Parque de Innovación de São José dos Campos to help Chilean startups access Brazil’s innovation ecosystem and scale in LatAm.

🇨🇱 BID Lab and ChileGlobal Ventures launch a $400K revenue-based debt fund for climate-resilient startups in Chile, offering up to $40K per company.

🇲🇽 Bitso awards up to $300K to 9 LatAm startups through its acceleration program The Push, supporting blockchain solutions in payments and remittances.

🇵🇪 Yango launches Yango Ventures, a $20M fund to invest in Peruvian startups from seed to Series B stages, while tripling its growth in the local ride-hailing market.

🇻🇪 Banco de Venezuela launches HUB BDV Innova to incubate fintech and tech startups like Assistai, BHappy, and Jedy Health CMO, providing mentorship and client access to boost innovation.

Opportunities & Deadlines 👀

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

• 🇲🇽 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.

• 🇧🇷 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

• 🇦🇷 Tlon Space to launch Aventura I, Argentina’s first fully private rocket, aiming for low Earth orbit from Malacara—marking a national space milestone.

🇧🇷 Brazil

• 🇧🇷 A Quinta Pet expands to Portugal as part of its European entry strategy. The foodtech also launched Maia, an AI assistant to boost sales and pet care in Brazil.

• 🇧🇷 Fogo Alto selects 10 startups for its acceleration program focused on digital innovation in food service, including Repediu, Chef.ai, and Myndware.

• 🇧🇷 Melver launches financial education program at Bett Brasil, with pilots in SP and SC and plans to scale nationally.

• 🇧🇷 Jeeves launches an Embedded Finance solution in Brazil to streamline corporate travel payments using VCN cards and API integration.

🇨🇱 Chile

• 🇨🇱 Appoderado.com (Schoolin1.com) becomes the first Chilean EdTech in Endeavor Miami’s ScaleUp, accelerating its U.S. expansion.

• 🇨🇱 Betterfly rolls out Buddy AI, a wellness assistant for employees, now used in 2,000+ firms across LatAm and expanding in Europe.

• 🇨🇱 Turbo Energy enters Chile with its AI-powered solar storage service, debuting at Temuco’s Alto Labranza mall to boost clean energy access.

• 🇨🇱 Saving Solutions secures CORFO funding to scale its zero-waste tech that recycles desalination brine into minerals and water.

• 🇵🇪 Riqra surpasses $1B in transactions and consolidates in Chile, with plans to expand into Ecuador, Colombia, and Central America.

🇨🇴 Colombia

• 🇨🇴 Wenia, backed by Grupo Bancolombia, celebrates 1 year with 16K+ users and expands crypto services in Colombia under Bermuda license.

• 🇨🇴 LAIKA to open 1,000 jobs and launch 100 retail stores across Colombia. The expansion promotes formal employment and inclusion

• 🇨🇴 Kiva and Monet partner to deliver $100K in microloans to 90,000 underserved Colombian women.

• 🇨🇴🤝🇧🇷 Nequi partners with Pismo to move all transaction processing to the cloud and boost scalability.

🇲🇽 Mexico

• 🇲🇽 Tiendanube launches a free Point of Sale tool to unify physical and online sales, enabling real-time inventory management without additional hardware.

🇵🇪 Peru

• 🇵🇪 Bancom launches Luqea, a new digital wallet to boost financial inclusion with AI, security, and interoperability features.

🇺🇾 Uruguay

• 🇺🇾 ABYA, Nvidia’s LatAm partner, to deploy next-gen AI/gaming servers and expand region-wide infrastructure; IPO plans underway.

• 🇪🇸🇺🇾 Cabify calls for more permits and structural reforms in Uruguay’s transport sector, citing outdated regulations that limit innovation and fair competition.

🌎 Other LatAm News

• 🇩🇴 Tabuga partners with CENIA to expand AI adoption in the Dominican Republic, including the development of the regional Latam GPT language model.

Big company & policy news 💡

🇦🇷 Mercado Libre posts $494M Q1 profit (+44% YoY), driven by strong growth in Argentina, where sales and payments more than doubled. The company will invest $2.6B in Argentina and $6.6B in Brazil in 2025.

🇧🇷 Sebrae Startups ranks São Paulo, BH, and Rio as Brazil's top cities by startup count. The new report highlights regional hubs with over 50 registered startups each.

🇧🇷 Nubank faces regulatory pressure in Brazil and may need a banking license or rebrand due to new rules on using the term “bank.”

🇨🇳🇧🇷 Meituan invests $1.1B to launch Keeta in Brazil and challenge iFood in food delivery. The move marks its LatAm expansion strategy.

🇨🇱 Amazon to invest $4B in a new AWS cloud region in Chile by late 2026 to boost digital infrastructure and cloud adoption across LatAm.

🇨🇴🇦🇷 Mercado Libre fined $54,500 for requiring facial recognition to access its platform. Colombia’s SIC ruled it violated data protection laws and must offer alternative login methods.

🇨🇴 Mercado Libre to invest $470M in Colombia in 2025 to boost tech, logistics, and infrastructure. The company also opened new offices in Bogotá to support regional expansion.

🇲🇽 CNBV moves to ease banking regulation and support digital banks like Banco Plata, Nu México, and Revolut Bank. Over 9,000 small businesses benefited from simplified credit rules. Cybersecurity remains a top regulatory challenge.

Interesting reads 💡

🇺🇸 TechCrunch reports in “Revelo’s LatAm talent network sees strong demand from US companies, thanks to AI” how U.S. firms are tapping LatAm engineers for post-training LLM tasks. Revelo is leading this trend, supplying AI-ready talent to major enterprises.

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