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!

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

Startup funding news 💸

Rounds of $10M+:

• 🇲🇽 Konfío secures a $369M credit line from Goldman Sachs, JPMorgan Chase, and Afore Sura Mexico to boost SME lending in Mexico. This includes an extended $220M line from Goldman Sachs and $151M from JPMorgan, with Afore Sura joining as a first-time lender.

• 🇧🇷 Terradot raises $53M in a Series A led by Google, Microsoft, and Valor Capital to scale its carbon removal tech using enhanced rock weathering. The funds will expand its operations in Brazil and develop tools for measuring and verifying carbon capture.

Rounds $5M to $10M:

• 🇧🇷 Sami raises $10M in a round led by Mundi Ventures and StoneX to support regional expansion and improve healthcare technology. The funds will enhance AI-powered tools, streamline patient care, and sustain the company’s growth in Brazil’s health plan market.

• 🇧🇷 Trinus raises $7M in a Series B extension led by Bewater to expand its real estate financial ecosystem. Funds will enhance its platform, support M&A, and increase market share across Brazil.

Rounds $1M to $5M:

• 🇲🇽 Buildpeer raises $2.5M in seed funding led by Brick & Mortar Ventures. Founded in 2021, the company has grown to 30 employees and over 5,000 active users, focusing on optimizing project management.

• 🇧🇷 Minus Sugar raises $2.5M to develop biotech solutions that remove sugar from orange juice. Early clients include Natural One and Citrosuco, key players in Brazil’s citrus industry.

• 🇨🇱 Yourney raises $1.6M led by Invexor to expand its leadership platform in Chile, Mexico, and Spain.

• 🇲🇽 Cofers raises $1M led by Cracks Fund to automate treasury tasks with AI, improving efficiency and decision-making for Mexican businesses.

• 🇧🇷 Digitra.com raises $1M from 4Equity Media Ventures to expand crypto operations and boost its user base in Brazil.

Other rounds of funding:

• 🇲🇽 Airbag raises $750K led by Impacta VC and others to enhance its fleet safety platform and expand its user base.

• 🇧🇷 Conta Comigo Digital raises $534K led by Urca Angels to expand operations and enhance its payment platform, serving 67M users in Brazil.

• 🇧🇷 Stoa raises $328K via EqSeed to enhance its insurtech platform and boost productivity for over 300 brokers managing 20K policies.

• 🇧🇷 Alloy raises $164K from CVC Comunitá to expand operations and enhance its food service tech platform.

• 🇧🇷 Murb raises $164K in a round led by an undisclosed angel investor to enhance its mobile music studio app and expand AI tools for aspiring artists.

M&A transactions 🎊

🇨🇱 Talana acquires People First to expand into Colombia, Ecuador, Panama, and the Dominican Republic. The deal adds 120K users to its HR platform, enhancing its offerings with organizational development tools.

🇧🇷 Progic acquires Simplifica.CI to expand its omnichannel internal communication solutions, boosting its client base by 30%. Simplifica.CI’s founders will take strategic roles, and a unified platform is expected by 2025.

🇧🇷 PayRetailers acquires Transfeera to expand in Brazil, gaining Pix access and boosting Open Banking integration.

🇧🇷 Voke invests in Renov via a convertible note to boost its IT resale operations and retail strategy.

Investor & accelerator news 🚀

🇨🇴 Ruta N launches the Medellín Venture Capital program to boost local startups and attract new investors, aiming to create jobs and drive innovation.

🇲🇽 Eko Venture will invest $10M in Mexican startups by 2025, focusing on tech and capital support to create scalable, profitable businesses in sectors like fintech and health.

🇨🇴 Medellín Venture Capital launches a $1.2M initiative to invest in Micro VCs supporting early-stage startups. Focused on sectors like mobility and health, the program aims to benefit 15-30 startups and boost Medellín's innovation ecosystem.

🇧🇷 Hurst Capital launches the "Fine Art IV" fund to invest in Brazilian art with a stock-like strategy, targeting diverse artists. The fund aims for a 19.07% annual return with a minimum investment of $1,643.

🇨🇴 PotencIA Digital boosts digital entrepreneurship in Colombia, training 4,667 people and supporting 300 ventures. The initiative focuses on rural areas and key sectors like tourism, health, and agro.

🇧🇷 South Summit Brazil 2025 extends Startup Competition applications to January 23, offering finalists investor matchmaking and pitch sessions in April.

🇨🇱 Startuplab.01, backed by Corfo and Fundación Chile, supports climate-tech startups in sectors like energy and agriculture, driving innovation to combat climate change.

Startup news 💡

🇦🇷 Visa partners with Pomelo to boost digital payments in LatAm, supporting card issuance and expanding virtual and physical card solutions, including crypto and enterprise use cases.

🇲🇽 Techreo and Pagaqui partner to launch Pagaqui Card, a debit card and app to simplify payments and boost financial inclusion for Mexican micronegocios.

🇧🇷 AstroPay launches a multi-currency wallet and payment card to expand globally. The product allows users to save, send, and spend money, with support from a merchant network. AstroPay plans to expand into Europe by 2025, starting with Spain and Portugal.

🇲🇽🇦🇷 tapi teams up with Mercado Pago to improve payments in Mexico, adding features like recurring payments and reminders.

🇨🇴 Claro Colombia and Paymóvil launch a mobile POS feature in Claro Pay, enabling 2.5M users to accept contactless payments via Android smartphones.

🇨🇱 Busho expands to the U.S. with a patented platform offering flexible commercial space rentals via app, starting at $7/day.

🇨🇴 Zulu expands to the UK and Southeast Asia, adding six currencies, including the pound and Singapore dollar. The fintech has processed $130M for 400 clients in 60+ countries since 2023.

🇨🇴🇨🇷 TumiPay and Rayo partner to enable 24/7 fund access, enhancing digital payments for small businesses in Latin America.

🇧🇷 Kanastra gains Central Bank approval to operate as a financial institution, expanding funding options for its structured funds and securitization tech solutions.

🇦🇷 MUNDI, recognized by Primary VC for "Modern Money Movement," plans LatAm and Canada expansion, targeting $1B in financing by 2025. The fintech streamlines export financing for global trade.

🇨🇴 Akaunt teams with Mastercard to launch a digital card for global shopping using digital dollars. New users depositing $50 receive a $2 bonus, with no activation or maintenance fees.

🇧🇷 Horizon Pay launches PIXCard, enabling installment payments via PIX to boost credit access and private label transactions.

🇨🇴 Plenti debuts a dollar card for global purchases with no fees and 1:1 official rates, managed entirely via its app.

🇧🇷 Groner hits $985K ARR in under a year with its solar CRM, reaching breakeven in 5 months. The company plans to raise funds and expand internationally in 2025.

🇧🇷 Moises wins the 2024 App Store Award for "App of the Year" for iPad. The AI-powered music app helps over 50 million users with features like track separation and chord detection.

🇲🇽 Cargamos exposed over 6 million files, including personal data of 19,000 delivery workers. Despite being warned in September 2024, the data remains accessible, risking security breaches.

🇨🇴 Meru launches a blockchain wallet in Bolivia, connecting DeFi tools with Visa, Mastercard, and MoneyGram. The wallet offers self-custody and DeFi-based returns, as cryptocurrency transactions in Bolivia surpass $75 million.

🌎 LatAm startups raised over $7B in mega rounds in 2024, showing some recovery in venture capital, though still below peak levels.

Big company & policy news 💡

🇧🇷 🇦🇷 Mercado Pago, the financial arm of Mercado Libre, increases its financial institution's capital by $128M, reaching $425M, following approval from the Central Bank of Brazil.

🇧🇷 Nubank expands its footprint by investing $150M in Tyme Group, a fast-growing digital bank with operations in South Africa, the Philippines, and plans for Vietnam. This move marks Nubank's entry into new geographies in Asia and Africa.

🇪🇨 Ecuador receives $500M from the IMF after meeting performance criteria under its Extended Fund Facility. The country made significant progress in its economic reforms, despite challenges like a security crisis and drought.

🇦🇷 In Argentina, popular investments include dollar savings, digital wallets, and fixed deposits. A report by Ualá shows 44% prefer foreign currency savings, while 39% use fintechs, despite 72% lacking financial knowledge.

Interesting reads 💡

🇧🇷 Latitud's LatAm Tech Report highlights both progress and challenges in the region's tech ecosystem, scoring 2.465/5 in market maturity. Fintechs lead with 57% of venture capital, but barriers like fundraising and regulatory hurdles persist. Optimism grows for 2025, with 69% of founders expecting investment growth.

🌎 LatAm VC resilience highlighted in new report: A Contxto analysis explores how Trump's proposed tariffs could affect the region's venture capital. Despite challenges, experts emphasize LatAm's adaptability, nearshoring potential, and thriving fintech and edtech sectors.

🇧🇷 AI shaping Brazilian startups: Sebrae Startups reports 78% of startups use AI, boosting efficiency for 65%. Experts predict AI will drive growth and innovation in 2025.

🌎 The Latam Fintech Hub report highlights major investments in 2024, with leading Fintechs like CloudWalk, Stori, Ualá, and Mercado Pago securing significant funding. These investments are driving strategic growth and strengthening platforms across the region.