Welcome to the 16th edition of the Dealflow LatAm newsletter: a weekly summary of everything that happened in the LatAm startup and investment ecosystem.
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🇨🇱 Buk raises $50M to expand its Latin American operations, focusing on Mexico and Brazil. The Series B round was led by Headline and Workday, with participation from Endeavor Catalyst, Greenoaks, and Base10.
🇧🇷 ObraBank launched with a $3.27M investment from SRM Ventures as part of its Venture Builder initiative. Focused on financing real estate suppliers, the fintech has already issued $327K in loans within 40 days and aims to reach $16.37M by 2025.
🇨🇱 Maihue raises $1M to expand its water dispensers and eliminate 50M plastic bottles annually. The round was led by Belat and Doble Impacto.
🇺🇾 TripWip raises $1M to expand into Mexico and grow its carsharing platform. Funds will support city expansions and local recruitment.
🇧🇷 Archo Medical raises $933K in a round led by Stark Investment Banking to advance its aortic aneurysm device and expand in LatAm and the U.S. by 2025.
🇦🇷 Bikleta App raises $500K to expand its cycling platform and grow its sustainable community in LatAm.
🇧🇷 The Men’s raises $426K in a round led by BR Angels to expand its personalized men’s health products and services.
🇺🇾 DNAzyme raises $200K from IndieBio to advance its UV protection biotech and prepare for a 2025 market launch.
🇧🇷 Loocal raises $196K to enhance its delivery logistics platform and expand to new cities. The round was led by EqSeed with participation from 105 investors.
🇧🇷 Alloy raises $163K in a round led by Sicredi Comunitá and Ventiur to enhance its food service tech platform and expand operations.
🇨🇱 Apiux acquires Nectia Software to drive its growth strategy through 2027. The deal aims to triple revenue and expand its tech consulting solutions.
🇧🇷 PsicoManager acquires PsicoClub and Academia do Psicólogo to expand into edtech and strengthen its mental health solutions hub.
🇧🇷 Okto acquires a controlling stake in fintech U4C to boost innovation and expand its presence in Brazil's online betting market.
🇧🇷 Invent Software acquires TaskDo, a Santa Catarina-based startup specializing in process automation, to strengthen its market presence and expand its portfolio of fiscal and accounting solutions.
🇧🇷 Inova FIP, managed by Angra Partners, acquired a 28.5% stake in Promip, a Brazilian biotech specializing in biopesticides, with a $3.27M investment. The fund, which includes resources from Finep, manages approximately $32.74M for future investments.
🇺🇸🤝🇦🇷 Eastern Point Trust merges with Parra Marketplace to form NEMI, offering fintech and payment solutions in Argentina and Paraguay, with plans for regional expansion.
🇨🇱 BID Invest commits $50M to Victory Park Capital to boost fintech funding and financial inclusion across LatAm SMEs.
🇨🇱 Chrysalis PUCV celebrates 15 years, having supported over 1,000 startups and generated 2,700+ jobs. The incubator is recognized as a leader in decentralized innovation and its impact in the Chilean ecosystem.
🇨🇱 FinteChile launches "Inscribe tu Fintech" to help fintechs register with CMF, offering legal support, FAQs, and webinars.
🇦🇷 CorLab publishes the January 2025 Benefits Catalog, listing 50+ funding and support opportunities for startups, SMEs, and researchers in Córdoba.
🇦🇷 Bolsa de Comercio de Rosario reports a 50% rise in registrations for its startup network, highlighting growing interest in Argentina's entrepreneurial ecosystem.
🇲🇽 Top Angel Investors in Mexico for 2025: Angel Ventures, Arkangeles, and others offer funding, mentorship, and networks, focusing on scalable, high-impact startups with $50K average investments.
🇲🇽 ALGEN accelerates capital raising for Latin American startups, having helped over 500 startups secure over $40M in funding. The new cohort promises 7,500+ investors, $100K+ in credits, and exclusive networking opportunities.
🇨🇴 Endeavor Colombia highlights B2B Software and Fintech as key sectors in its network, driving inclusion and efficiency. Last year, it logged 178 mentorship hours, helping startups scale innovations.
🇲🇽 Expedition FEMSA accelerates startups in sustainability, smart cities, and health with mentorship, pilots, and global connections. Backed by Cemex, Tec de Monterrey, and leading corporates, it strengthens Mexico’s innovation ecosystem.
🇦🇷 Hummelnest Accelerator offers six Argentine startups mentorship, €100K investment, and global expansion support. Applications close January 26, 2025.
🇦🇷 CIIAR invites GovTech startups to apply with AI solutions for urban challenges in safety, citizen engagement, and mobility. Selected teams will pitch to officials from 10 cities at the Govtech Demo Day. Deadline: January 15, 2025.
🇦🇷 Tierra del Fuego launches its 2025 Talent Acceleration Program with Alkemy to train tech talent and connect them with top companies. Applications are open from January 7-27, 2025.
🇨🇴 Pygma opens applications for its PY6 program, targeting fintech startups in LatAm. Selected ventures will gain mentorship, tailored support, and global investor connections. Applications close on January 17.
🇨🇱 CCU opens INNPACTA 2025, seeking tech startups to improve logistics efficiency. Winners get $10,000 and a pilot with CCU. Apply by Feb 9.
🇲🇽 AMEXCAP will host the Mexico VC Day in New York on February 6, 2025, bringing together prominent Mexican GPs and international LPs. The event offers a platform to discover investment opportunities in Mexico's growing VC ecosystem.
🇲🇽 AceleraLatam emphasizes Venture Capital's high-risk, high-reward nature, where a few startups yield 10x-50x returns. Through its ALGEN program, it prepares LatAm founders to align with investor expectations and craft impactful pitches. Applications are open for pre-seed startups.
🇲🇽 Finnovista announces the Fintech Radar México 2025, a key report analyzing trends and innovations in LatAm’s financial industry. The study highlights standout fintech projects and offers visibility to local and foreign fintechs operating in Mexico.
🇲🇽 Startup Grind Global Pitch Battle invites Mexican startups to compete for a spot at Startup Grind Global 2025 in Silicon Valley, starting January 15 at Google Mexico.
🇧🇷 Caf strengthens its leadership in Brazil’s betting market with Bet ID, a solution for bettor authentication and compliance, used by over 45 brands.
🇧🇷 Koin will invest $4.91M in fraud prevention to enhance digital security in Latin America, focusing on BNPL services and expanding its reach across key markets.
🇧🇷 Delend launches an AI-powered Financial Assistant for SMEs, streamlining payments, credit, and cash flow management via WhatsApp.
🇧🇷 BTG and Senior Sistemas launch a new credit fintech approved by the Brazilian Central Bank. The partnership creates a Sociedade de Crédito Direto (SCD) offering innovative credit solutions.
🇲🇽 TikTok Shop launches in Mexico, offering in-app shopping with live streams and personalized recommendations to compete with Amazon and Mercado Libre.
🇲🇽 Guillermo Guadarrama launches Nexcar, a platform to automate vehicle inspections and reduce fraud, with $450K raised to boost efficiency in the automotive sector.
🇲🇽 Olinia partners with IPN and TecNM to create Mexico's first electric mini vehicles, enhancing eco-friendly mobility for urban and delivery use.
🇨🇱 UNK expands to México, offering IoT solutions to optimize the food industry's cold chain and reduce waste.
🇺🇾 Viatik, a Uruguayan carpooling app, launches in Argentina and gains 15,000 users in its first week. The app aims to reduce travel costs, especially for trips to popular beach destinations.
🇦🇷 Brubank hits 3.6 million clients in Argentina, processing 37 million monthly transactions and expanding services like Brubank Empresas and CEDEARs.
🇦🇷 Mercado Libre celebrates 25 years with the "Big Bang" campaign, reflecting on its journey from the first sale to reshaping e-commerce in LatAm.
🇦🇷 Mercado Libre opens 61 new hybrid roles in Argentina, focusing on tech, marketing, finance, and customer experience.
🇦🇷 Kheiron, an Argentine biotech, births the world’s first CRISPR-edited horses, marking Argentina as a leader in equine biotechnology.
🇦🇷 Modo quadrupled online payments in 2024, reaching 17 million users and 800,000 businesses.
🇨🇴 Plurall secures funding from BBVA Spark, backed by FNG, to expand digital microloans for Colombian microentrepreneurs and boost financial inclusion.
🇨🇴 Bold reaches $900B in monthly transactions in Colombia, serving 500,000 merchants and expanding with new financial services.
🇨🇴 Four Colombian women nominated for the Aurora Tech Award 2025, including Isabella Ghassemi-Smith, Maria Camila Garcia, Daniela Orozco, and Tatiana Calderón, recognized for their leadership in tech startups, with three integrating AI in their projects.
🇨🇴 Minka and ACH Colombia drive Colombia's digital payments revolution, handling 282 million transactions worth $9.8B in 2024, with a target of 400 million in 2025.
🇨🇴🤝🇧🇷🇺🇸 VIIO partners with Dock and Visa to launch a digital USDC card in Colombia, offering users global purchasing power, no maintenance fees, and exclusive discounts.
🇨🇱 HANU expands to Colombia with its innovative wellness platform, offering customizable SaaS solutions for employee health and engagement.
🇦🇷🤝🇧🇷 Satoshi Tango partners with Depay to enable crypto payments in stores across Argentina, Brazil, Colombia, and Peru using QR codes, allowing instant transactions in local currencies.
🇺🇸🤝🇲🇽 Fairmarkit partners with Sonoco to expand AI-driven sourcing operations in LatAm, successfully completing 15,000 sourcing events in one year, achieving a 3.4X ROI and reducing costs by 9%.
🇨🇱🤝🇪🇨 Viper partners with Firense to optimize emergency response for firefighters in Ecuador using its Viper One platform.
🇲🇽🤝🇩🇪 Global66 partners with FC Bayern to offer 12 young footballers from Argentina, Chile, and Colombia a chance to train with Bayern’s youth team.
🇵🇪🤝🇺🇸 Kuady partners with Mastercard to launch a prepaid physical card, enhancing secure payment options. This follows the success of their virtual card.
🇻🇪🤝🇺🇸 Zinli and Zoom team up to simplify international shopping for Venezuelans, offering prepaid cards and international lockers for a seamless experience.
🇺🇾🤝🇺🇸 ZirconTech partners with AWS to boost blockchain and AI adoption, enhancing tools like Notarizer and Tokenization.
🇸🇻 Bitfinex Derivatives moves to El Salvador after securing a DASP license, boosting the country's crypto hub status.
🇨🇱 Coddi, a Chilean AI mining company, expands into Canada after its experience with Start-Up Chile, aiming to enhance technology with mobile inspections and real-time reporting.
🇺🇾 dLocal gains UK FCA license to expand cross-border operations, offering 900+ payment methods in emerging markets, with a $3.4B market cap.
🇧🇷 Vinci Compass raises $640M for its fourth private equity fund. The round was concluded amid market turbulence, marking the largest fund raised by the firm.
🇧🇷 Nubank ends 2024 as the most valuable bank in LatAm, surpassing Itaú with a market value of $49.375B, gaining $20.636B. Despite strong growth, its stock dropped due to rising unpaid debts.
🇧🇷 PagBank lays off hundreds amid restructuring; sources report 300-500 job cuts, but the company hasn't confirmed the number.
🇨🇱 Uber Law re-entry criticized by Uber, Didi, and Cabify for strict vehicle requirements, potentially affecting drivers and car availability. They plan to submit new observations to Contraloría.
🇺🇸🤝🇨🇱 Horizon Aircraft signs a Letter of Intent with Discovery Air Chile to lease 5 Cavorite X7 eVTOLs by 2028.
🇦🇷 Hernán Kazah, co-founder of Kaszek and Mercado Libre, shared insights with Bloomberg Línea on how the recent U.S. interest rate cuts and a more pro-business U.S. government could open the door for IPOs of LatAm startups in 2025, particularly in the tech sector.
🌎 PitchBook report: VC investment in LatAm increases in 2024, but rounds fell by 24%. AI startups dominate globally, capturing 35% of all investments. Key LatAm deals: Ualá ($309M) and Kapital ($188M).
🇲🇽 Contxto presents "15 AI Startups Operating in LatAm to Watch in 2025", featuring innovative companies like Fracttal, Vambe, and Buddy.ai that are transforming industries such as maintenance, education, and pet care across the region.
🌎 Carmela Gómez, Head of Global Open Banking at BBVA, discussed the adoption of Open Banking and Open Finance in LatAm in an interview with The Paypers. She outlined the challenges and opportunities across different countries, BBVA's role in advancing innovation, and the regulatory trends shaping the future of financial services in the region.
