Welcome to the 22nd edition of the Dealflow LatAm newsletter: a weekly summary of everything that happened in the LatAm startup and investment ecosystem.

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Startup funding news 💸

Rounds of $30M+:

• 🇧🇷 Solfácil raises $175M through a green credit fund to finance solar energy projects across Brazil. The company, active in capital markets since 2021, plans to secure more funding through green bonds to support its expansion and sustainability efforts.

• 🇲🇽 VEMO secures $64M in financing from Beel Credit, Banco Covalto, Kapital, and Promecap to expand its EV leasing program and strengthen its charging infrastructure in Mexico. The funds will support sustainable mobility solutions and further business growth.

Rounds $10M to $30M:

• 🇧🇷 Azos raises $30M in Series B led by Lightrock, with Kaszek Ventures, Prosus, Munich Re Ventures, and Maya Capital participating. The funds will enhance its technology and expand life insurance access in Brazil.

• 🇦🇷 N5 raises $20M to expand its AI solutions for financial services. The round, an extension of its 2023 Series A, was led by Alexia Ventures and Scale-Up Ventures, with participation from existing investors. Funds will accelerate AI development and global expansion.

Rounds $1M to $10M:

• 🇧🇷 V360 raises $7M to enhance B2B payment management solutions. The Series A round was led by Cloud9, with participation from Honey Island, Carpa, and Allievo. The company, which processes over $70B annually, aims to expand its offerings in response to new financial regulations.

• 🇧🇷 Advolve.ai raises $5M in a seed round led by Canary, with Valor Capital and Prosus Ventures to fuel international expansion and AI marketing tech growth.

Other rounds of funding:

• 🇧🇷 Monest raises $560K from Nestal LTD SA to enhance its AI-powered debt collection platform and develop voice communication features.

• 🇨🇷 REDLINE LAB invests in Dojo Coding to boost Web3 talent in LatAm, supporting their 'earn while you learn' model and helping secure $700K in grants for developers.

M&A transactions 🎊

🇨🇱 Datamind is acquired by Involves to expand its AI-driven retail analytics solutions across LatAm. The Chilean startup’s team will integrate into Involves to enhance trade marketing technology.

🇵🇪 Capital Pacífico acquires TuSueldoYa to expand payroll advance services in Peru. The fintech will integrate into the holding’s portfolio, which includes Préstamo Feliz and Soluciones CPF.

🇧🇷 Moove acquires Easy Carros, expanding its global presence across six continents. The combined company reached $275M in revenue in 2024.

🇧🇷 Provu is acquired by Vinicius Garcia Cipullo and Holditsafe Financeira, pending approval from Brazil’s Central Bank. The fintech operates as a Sociedade de Crédito Direto (SCD).

🇧🇷 Grupo Entre acquires Acqio and Credihome SCD, expanding its ecosystem, which includes EntrePay, Leads, and Pmovil. More acquisitions are planned, says founder Antonio Freixo.

🇧🇷 PetVi is acquired by Emerge Ventures, which will invest $3.5M to scale the pet supplement brand. Rafael Marino (ex-BrandLovrs) takes over as CEO, aiming for $20M in revenue by 2026.

🇧🇷 Yooga acquires Kuppi to help restaurants reduce reliance on iFood by enabling sales via WhatsApp. Kuppi’s founders will join Yooga to develop new automation and sales solutions.

🇧🇷 Nutrição Sem Fronteiras acquires Wellts for $260K to enhance its nutrition management platform. Founders Mateus Porfirio and Gyovanne Cavalcanti join as partners to expand the technology.

🇧🇷 NG.Cash acquires Z1's customer base, surpassing 6M users and becoming Brazil’s top digital bank for Gen Z. Z1 will cease operations following the transition.

🇧🇷 Nightingale Partners acquires Horus Smart Detections to expand in renewable energy and grow internationally.

Investor & accelerator news 🚀

🇧🇷 BR Angels launches a $870K investment batch for agtech startups, with checks between $175K and $260K per company. The group seeks innovative solutions to boost agribusiness productivity and sustainability.

🇧🇷 Ânima Educação launches Titans Lab, a $520K fund to support student-led startups. At least 20 startups from its universities will be selected, receiving mentorship, infrastructure, and investment opportunities.

🇧🇷 Hospital Albert Einstein launches a startup acceleration program focused on SUS, aiming to enhance public healthcare efficiency and accessibility.

🇧🇷 Wayra and Vivo Ventures closed 2024 with $23M in startup deals, a 30% increase from the previous year. For 2025, they plan to focus on generative AI, fintech, and agribusiness investments.

🇦🇷 La Segunda Seguros joins Bioceres in a fund to support tech startups in LatAm. This initiative, backed by the SF500 fund, aims to develop 500 startups with a $300 million investment.

🇲🇽 99 startups announces the successful close of its $4.5M FUND I, surpassing its initial goal. The fund will support high-growth startups in fintech, SaaS, and AI across LatAm.

🇲🇽 TikTok partners with New Ventures to accelerate 13 Mexican startups with $18k in seed capital. These businesses will receive mentorship and personalized support to boost their growth and digital strategies.

🇺🇸 LaGrande Global enters Colombia with $5M to support startups in ecotourism, nearshoring, AgTech, fintech, and health tech.

🌎🤝🇯🇵 BID Invest and JICA announce the creation of the Tadac Fund with $1B to boost private investment in LatAm. The fund will co-finance sustainable projects in key sectors, including mining, energy, and aquaculture.

Opportunities & Deadlines 👀

🇧🇷 South Summit Brazil 2025 happens April 9-11 in Porto Alegre, featuring global leaders, AI, and business trends. Tickets available now.

🇧🇷 Instituto Joga Junto offers 90 free spots for a data analysis course, with 30 in-person in Ilhabela. Graduates may access job opportunities. Deadline: February 25.

🇧🇷 Fogo Alto opens applications for its accelerator program to boost food service startups in Brazil. Supported by iFood, Zig, Bidfood, and Unilever, the initiative provides six months of free tools and market access. Applications close on March 16.

🇨🇱 UDD Ventures extends the call for Scale Capital Sostenible to support 40 Chilean startups with training, mentorship, and investment opportunities. Apply by February 21, 2025.

🇨🇱 Fintoc seeks developers for its LatAm payments expansion. The global call offers relocation to Santiago or Mexico City. Apply by March 4, 2025.

🇨🇱 Start-Up Chile selects 64 startups for its BIG 9 program, with 37% led by women. Startups receive $15K–$75K USD in equity-free funding. Program starts in April.

🇦🇷 Tim Draper arrives in Buenos Aires for Draper Cygnus Tech Week, set for March 5-6, 2025. The event will focus on boosting Deep Tech innovation in LatAm and connecting local startups with global investors.

🇵🇪 Kaman, Incubadora de Negocios launches a program for Peruvian tech startups, offering training in sales, pricing, and market scaling. Applications close on March 4, 2025.

Startup news 💡

🇧🇷 Brazil

• 🇧🇷 Brazil leads the LatAm startup ecosystem, with São Paulo as its top hub and 11 unicorns. Regulatory advances drive growth, but bureaucracy and limited global investment remain challenges.

• 🇧🇷 Forlex reached $520K revenue in 2024 and aims to double it in 2025. The legaltech provides AI-powered solutions for lawyers and businesses, already serving over 100 clients across Brazil.

• 🇧🇷 B2Gether launches 4TE Group, expanding into business credit to offer financing solutions alongside its currency exchange services.

• 🇧🇷 Paketá partners with Workhub to offer payroll loans and salary advances to 235,000 users in Brazil, aiming to generate $257M in loans over the next five years.

• 🇧🇷 EBANX gets preliminary approval for a payment license in Singapore to expand its services in Asia-Pacific, supported by YES BANK and Alibaba.

• 🇧🇷 FitBank gets authorization from the Central Bank of Brazil to issue Credit Bank Notes through its new operation, EasyCrédito.

• 🇧🇷 Pilotin plans to launch an app in Brazil to unify financial data and expand credit access using Open Finance and AI.

🇨🇱 Chile

• 🇨🇱 Fintual launches Fintual Acciones, enabling investment in U.S. stocks and ETFs with fractional purchases and zero trading fees.

• 🇨🇱 Tanner Banco Digital gets approval to operate as a bank in Chile, with a deadline of February 6, 2026 to launch.

• 🇨🇱 Dafiti shuts down operations in Chile due to business challenges and local competition, ending sales on February 17, 2025.

• 🇨🇦 Vela Sustainability Technologies enters Chile to acquire climatech startups focused on sustainable tech solutions. The target companies must have annual sales above $2M and a strong client base in sectors like mining and energy.

• 🇺🇾 OrderEAT expands to Chile, now operating in 10 countries with 300 schools and 110,000 users. It aims for $3M monthly by March 2025 and plans to enter Brazil by March 2026.

🇨🇴 Colombia

• 🇨🇴 dale! launches Tag Aval, enabling instant, free transfers between major Colombian banks without sharing personal data.

• 🇨🇴 Doctoralia Colombia launched Noa Notes, an AI tool that automates note-taking during consultations, saving time and improving patient care.

• 🇨🇴🤝🇫🇷 Minka partners with Lyra to integrate Transfiya, enabling real-time bank transfers for merchants in Colombia.

🇲🇽 Mexico

• 🇨🇱 UNK Latam expands to Mexico, bringing its cold chain tech to the food industry.

• 🇦🇷 Ripio gets approval from Mexico's CNBV to operate as a money transmitter, expanding its cross-border payment solutions for businesses in LatAm.

🇵🇪 Peru

• 🇵🇪 Kasa aims to increase its assets to $1M by 2025 to expand its real estate investment platform across LatAm. The startup focuses on making property investment accessible to a broader audience.

• 🇵🇪 Do Payment expands to Chile, Colombia, Mexico, Ecuador, and Panama to boost real-time payments in LatAm, aiming to process $700M in transactions by 2025.

🌎 Other LatAm News

🇨🇱🤝🇲🇽 ProntoPaga partners with Jumio to boost fraud prevention and streamline user onboarding across LatAm.

Big company & policy news 💡

🇦🇷 Blockchain Argentina Foundation introduces an "anti-$Libra" bill aimed at preventing fraud in the crypto market. The law focuses on regulating rug pulls, market manipulation, and fraudulent promotion of crypto assets, aiming to protect users while fostering innovation.

🇧🇷 The Brazilian government allocates $523M to expand innovation centers, boosting research and development across the country. The program aims to strengthen Brazil's technological infrastructure, with proposals open to both local and international companies.

🇵🇾 The Central Bank of Paraguay is introducing a new National Payments System Law to enhance security, transparency, and interconnection, regulating fintechs and electronic payments to promote innovation and financial inclusion.

Interesting reads 💡

🌎 Diego Andrés Quesada Grimaldo from Pomelo shares fintech predictions for 2025, covering crypto regulations in Peru, payment systems in El Salvador, and the rise of digital wallets in Chile.

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