This is newsletter is put together by Yoel Rodriguez with the help of Jaime Novoa. Yoel has joined us to take Dealflow to the next level. For now, we’ll be once again sending the LatAm version of the newsletter every Monday and we have a few more things in the pipeline. Stay tuned!

As we kick off 2025, we want to thank you for being part of the Dealflow LatAm community. Your support drives us to bring you the most valuable insights into the region's dynamic startup and investment ecosystem. Here's to a year of growth, success, and exciting wins for all of us. Wishing you an extraordinary 2025 filled with opportunities! 🚀✨

This week’s newsletter is brought to you by zenital:

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Not only are they good at what they do, but they’re also very nice people. If you need help to navigate the data landscape, reach out to them!

If you’re interested in sponsorship opportunities, send us an email at jaime@dealflow.es

Startup funding news 💸

🇧🇷 Carecode raised $4.3M led by a16z and QED Investors. Co-founded by Thomaz Srougi (founder of dr.consulta) and Pedro Magalhães, the startup uses AI to optimize healthcare customer service, cutting costs and improving efficiency.

🇧🇷 Brazil Finance Group (BFG) raised $2.8M led by Atlant Fonder and a Brazilian unicorn fintech (undisclosed). The funds will accelerate growth in its fintechs Lara (health financing) and Qred Brasil (SME financing).

🇧🇷 Rhino raised $1.62M in a media-for-equity round with 4Equity Media Ventures. The funds will enhance marketing for its premium armored car ride-hailing service, targeting $8.1M in revenue by 2025.

M&A transactions 🎊

🇧🇷 Binance acquired Sim;paul, establishing a locally regulated arm in Brazil. The move strengthens Binance's position as the largest crypto trading platform in the country.

🇧🇷 Food To Save acquired Fruta Imperfeita to expand into rescuing discarded produce at the agricultural stage. The move supports its goal to triple in size and achieve national expansion by 2025.

Investor & accelerator news 🚀

🇨🇱 Magical plans to invest $625K in 5 startups in 2025. It backs innovative ventures like Obralink (IoT for construction), LicitaLAB (AI for public procurement), and regional startups Batech (Mexico) and Ualabee (Argentina).

🇨🇱 Corfo launched a new call for its Semilla Expande program, offering funding and strategic support for innovative startups with high growth potential. The initiative aims to strengthen business models and facilitate access to national and international markets.

🇨🇱 PwC and the Universidad de Concepción are launching Chile's first Acceleration Center to export tech talent. Backed by a $2M investment, it aims to recruit graduates, create jobs in Biobío, and provide tech services globally, including the U.S. and Europe.

🇲🇽 Crowdfunding in Mexico is set to grow 25-30% in 2025, with Nuevo León as a key hub. Briq, led by Alberto Padilla, connects small investors to real estate projects, boosted by World Cup infrastructure.

Startup news 💡

🇦🇷 Mercado Libre introduces direct shipments from the U.S., allowing sellers to use dropshipping with minimal investment and no inventory.

🇦🇷 Brubank becomes the official sponsor of the Miami Sharks for the 2025 Major League Rugby season. The partnership supports rugby growth across the U.S. and LatAm, with Brubank offering exclusive perks to fans and its logo featured on players’ shorts.

🇲🇽 Farmacias del Ahorro will launch "Cuenta Monedero" in 2025 after acquiring TUDI, enabling transfers, payments, and cash withdrawals linked to its loyalty program.

🇦🇷 Unibaio wins $1M at Grow-NY 2024 for its biotechnology solution that improves pesticide and fertilizer efficiency. The startup, based in Mar del Plata, Argentina, plans to expand its team and launch new technology in 2025 to help reduce agrochemical use by up to 80%.

🇲🇽🤝🇺🇸 Luuna Mattresses partnered with DOW to expand in LatAm, using AI to cut costs, achieve a 1% scrap rate, and produce a mattress every 30 seconds.

🇨🇱 Chile has emerged as a key player in creating unicorns in LatAm, with Cornershop, NotCo, and Betterfly leading the way. The region is seeing a surge in unicorns like Kavak (Mexico) and Rappi (Colombia), emphasizing the need for stronger funding and supportive public policies to fuel ecosystem growth.

🇨🇴 Colombian startups raised over $200M in 2024, with Bold ($50M), Addi ($36M), and Cobre ($35M) driving growth. From fintech to agtech, these innovators are set to transform 2025, cementing Colombia as a key tech hub in LatAm.

🇦🇷 Botmaker, led by Alejandro Zuzenberg, launched AI tools like generative agents, Mailbots, and audio chatbots. It aims for $100M revenue by 2025, with Brazil and Argentina as key markets.

🇨🇴 Colombia’s fintech sector is set for growth in 2025, driven by digital payments, AI, and financial inclusion. Trends include WhatsApp and QR payments, 3D Secure adoption, and AI-enhanced user experiences.

🇲🇽 Karri expands in Mexico, targeting cities like Mexico City and Monterrey, with plans to add 200 drivers in 2025, driven by e-commerce growth.

🇦🇷 Fiwind reached 500,000 users in Argentina, offering crypto, QR payments, and Pix. It plans LatAm expansion in 2025.

🇲🇽 Justo closed its Brazilian operations after three years, citing market challenges despite a $70M investment. It will focus on its Mexican market and Amazon partnership.

🇨🇴 WeiBook, a Colombian beauty-tech startup, will expand to Brazil in 2025 after earning recognition from Google.

🇦🇷 Alprestamo launches negotiable obligations to fund SME loans, auto financing, and new market expansions. After doubling revenue in 2024, it aims to sustain rapid growth across LatAm in 2025.

🇲🇽 AI27 expects 30% growth in 2025 and plans to expand to Colombia, Peru, Ecuador, and Central America, protecting $2.2B+ in goods annually.

🇧🇷 Fiserv launches Clover in Brazil, the country’s first multi-acquirer payment system, targeting its complex payment landscape and expanding its global footprint.

🇦🇷 Lemon enables cryptocurrency payments in pesos, reflecting Argentina's growing use of crypto for daily transactions amid economic instability. Adoption has risen, especially among users aged 35-44.

🇨🇴 Zulu now supports payments to the UK and Southeast Asia, boosting its reach to 60+ countries and empowering LatAm SMEs in global trade.

🇲🇽 Ualá lowers its annual yield from 14% to 13% on Performance Accounts and maintains investment limits.

🇦🇷 Andrés Jara Werchau, co-founder of Nubimetrics, leaves behind a remarkable legacy as a visionary entrepreneur and a trailblazer in e-commerce analytics. His work not only positioned Nubimetrics as a key player in LatAm's tech ecosystem but also inspired countless entrepreneurs to dream big and innovate. His contributions to technology and commerce will continue to impact the industry, and his visionary spirit will be deeply missed.

Big company & policy news 💡

🇲🇽 Mexico ushers in a new e-commerce era with tariffs for platforms like Shein, Temu, and Amazon. Starting 2025, these companies must register with Mexico's tax system and comply with new import duties: 19% for non-trade agreement countries like China, and up to 19% for others depending on shipment value. Consumers may face price increases and longer delivery times due to stricter customs inspections.

🇦🇷 Mendoza advances digitalization with BID's Govtech LatAm program, developing tools to manage local business data. The initiative aligns with its "15-minute city" vision for a sustainable and connected urban future.

Interesting reads 💡

🇸🇪🇦🇷 Peter Westberg wrote "Mercado Libre: The Digital Backbone of Latin America", exploring how Mercado Libre has become a key driver of digital transformation in the region, combining e-commerce, logistics, and fintech to dominate the market.

🇦🇷 Francisco Aldaya published "Estas son las startups argentinas que levantaron más capital en rondas de 2024." The article highlights seven Argentine startups that raised over $375M this year, led by Ualá's $300M Series E. It explores the challenges of competing regionally in LatAm's VC ecosystem.

🇨🇱 Sebastián Manríquez, Partner at AceleraLatam, highlights the shifting dynamics in LatAm's startup funding. He explores the rise of angel investors and corporate funds as VC investments prioritize startups with strong revenue metrics.

🇦🇷 Luis Ariel Peralta Aliano, CCO of Kuru, shares insights in "Levantar capital en Argentina: el desafío de todo emprendedor". The article explores the hurdles Argentine entrepreneurs face in securing funding, offering strategies for navigating local volatility and building resilient startups.

🇨🇱 Endeavor Chile and its entrepreneurial hubs for 2025 highlights regional initiatives like Mining Tech in Atacama, Industry 4.0 in Biobío, and the Patagonia Biotech Hub. These hubs aim to transform sectors like mining, automation, and biotech, positioning Chile as a leader in innovation and entrepreneurship across LatAm.