Hey, it’s Yoel 👋 Back again with the 94th edition of Dealflow LatAm: your go-to source for all the deals, moves, and momentum in the region’s startup scene.

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

Subscribed

👉🏼 If you’re interested in sponsorship opportunities, please reach out to yoel@dealflow.es

Startup funding news 💸

Rounds of $10M+:

• 🇲🇽 Nexu secured $142.5M in debt financing from HSBC México to expand AI-powered auto lending and finance over 10,000 vehicles.

• 🇦🇷 COR raised $30M led by FTV Capital to expand its AI capabilities and scale its operating system for agencies, consultancies, and professional services firms.

• 🇧🇷 Pinbank secured a $19.6M credit facility, structured and distributed by XP, to expand funding for its merchant-acquiring business.

Rounds $1M to $10M:

• 🇧🇷 Zeom raised $3M in a pre-seed round led by Fabric Ventures, with Plug and Play and Tritemius, to scale its global investment platform in Brazil.

• 🇦🇷 SiloReal raised $2.5M from Draper Cygnus, Galicia Ventures, and others to expand its digital agri-asset verification platform.

• 🇧🇷 Runflow raised $1.38M in a pre-seed round led by Honey Island by 4UM to scale its enterprise AI agent management platform.

• 🇧🇷 Ecotrace raised $1–2M from GS1 Ventures to expand into Europe, the Middle East, and the halal market, marking the CVC's first investment.

• 🇧🇷 Einship raised $1M in a seed round led by Parceiro Ventures to expand globally and enhance its AI-powered platform for international trade operations.

• 🇨🇱 Ecoterra raised $1M from Capibara Fideicomiso de Impacto to expand in Colombia, while launching Chile’s first locally produced organic milk.

Other rounds of funding:

• 🇧🇷 Yungas launched a $920K fund to invest in AI startups serving franchise networks, making its first investment in Brazilian fintech Fin.

• 🇨🇱 Strong by Form raised funding from CMPC and family offices to build a pilot plant in Spain and scale its timber construction technology.

M&A transactions 🎊

🇧🇷 Pitzi merged with Renov to create a smartphone lifecycle platform spanning protection, trade-in, and rentals, targeting $55M in sales by 2026.

🇧🇷 Conta Azul acquired Mister Contador to strengthen its integrated financial and accounting platform for SMEs in Brazil.

🇧🇷 PicPay received final regulatory approval to acquire Kovr, expanding its digital insurance offering and financial ecosystem.

🇧🇷 Hero Seguros acquired Grupo CAM to enter Mexico and accelerate its expansion across LatAm.

🇨🇱 Drivin was acquired by Descartes Group for $30M, expanding the Canadian firm's last-mile logistics software business in LatAm.

🇨🇴 Dapta acquired growth agency Beezion to internalize demand generation and accelerate the expansion of its AI-powered sales platform across LatAm.

Investor & accelerator news 🚀

🇧🇷 Zavii Venture Builder argues that Product-Market Fit validates a product—not a company—and must be continuously reassessed as startups scale.

🇧🇷 Sebrae and Magalu signed a three-year partnership to train 10,000 small businesses and help them expand through e-commerce and the Magalu marketplace.

🇧🇷 BNB, Finep, and Sebrae launched a $23.7M seed fund to back early-stage startups in Northeast Brazil, with investments of up to $1.18M per company.

🇧🇷 EqSeed launched EqSeed Academy to help founders prepare for fundraising and is set to close its first structured credit operation in the coming weeks.

🇲🇽 Jalisco selected 15 deeptech startups for De la Ciencia al Mercado, providing up to $37K in non-dilutive funding to commercialize scientific innovations.

🇲🇽 Angel Ventures launched Apex Company Lab, its venture builder arm, debuting with Bark & Co, a dog wellness startup targeting Mexico’s growing pet care market.

Opportunities & Deadlines 👀

• 🌎 Volcano Innovation Summit returns to Guatemala on 5–7 September, connecting 2,200 leaders and 50 LatAm startups with global investors.

• 🇲🇽 Decelera México 2026 opens applications for LatAm founders, offering up to $300K initial checks and expert support; 📅 October 2026 in Playa del Carmen.

• 🇺🇾 MERGE Startup Contest 2026 opens applications for Web3 startups, offering €50K+ in prizes and investor access. Deadline: September 6.

Startup news 💡

🇦🇷 Argentina

• 🇦🇷 Fonder launched an AI treasury platform for SMEs and is raising a $500K pre-seed round to accelerate its LatAm expansion.

• 🇦🇷 Cocos is expanding across LatAm, combining digital investing with financial education following its acquisitions of Banco Voii and Warren.

• 🇦🇷 Jeeves launched in Argentina to expand corporate payments and stablecoin services.

🇧🇷 Brazil

• 🇧🇷 Lumina Capital increased its stake in Agibank from 5% to 7% after acquiring nearly 3 million shares following the fintech’s IPO.

🇨🇱 Chile

• 🇨🇱 Sheriff launched Marshal, an AI compliance agent for due diligence, and is targeting Colombia as its second LatAm market after Peru.

• 🇨🇱 Mercado Pago launched Personas de Confianza, a security feature allowing trusted contacts to protect users’ digital accounts if access is compromised.

• 🇨🇱 Xepelin found that 50% of Chilean SME invoices are paid after 30 days, underscoring ongoing cash flow challenges.

• 🇨🇱 Global66 CEO Tomás Bercovich joined the Endeavor network as the profitable fintech continues growing over 100% annually.

🇨🇴 Colombia

• 🇨🇴 GoTrendier reported Colombia’s secondhand fashion market surpassed $9M in 2025, driven by 500,000 new users and strong demand for affordable clothing.

• 🇨🇴 Nu Colombia became the first bank to enable Bre-B payments with credit cards, allowing users to finance transfers in up to 36 installments.

• 🇨🇴 Cobre partnered with Servientrega to enable Bre-B QR cash-on-delivery payments, helping drive a 35% increase in digital COD transactions.

🇲🇽 Mexico

• 🇲🇽🇨🇱 Vambe is expanding in Mexico, where it aims to double its enterprise customers with its AI-powered WhatsApp sales platform.

🇵🇪 Peru

• 🇵🇪🇨🇱 Talana is expanding in Peru, using AI-powered HR software to modernize workforce management and replace legacy tools like Excel.

🇺🇾 Uruguay

• 🇺🇾 dLocal partnered with ACI Worldwide to enable local payment methods across LatAm, starting with Brazil and Mexico.

🌎 Other LatAm News

• 🌎 Visa said stablecoins complement Pix, serving cross-border payments rather than everyday transactions.

• 🇧🇴 Yape and BCP Bolivia processed 32% of Bolivia’s QR payments in 2025, highlighting the platform’s growing role in financial inclusion.

• 🇨🇱 Zapping will expand LigaPro streaming to Argentina, Colombia, Peru, and Uruguay, broadening the league’s reach across South America.

Big company & policy news 💡

🇦🇷 Belo was ordered to pay $6K in damages after an Argentine court held the fintech liable for denying a user access to funds and failing to provide customer support.

🇧🇷 99 is investing $19.7M to launch 99Compras in São Paulo, expanding its super app with grocery and retail delivery across 20+ cities.

Interesting reads 💡

🇪🇸 We at Kfund unveiled our healthcare investment thesis, moving from opportunistic bets to a deliberate focus after 10+ health investments over five years: “Inside Our Healthcare Investment Thesis”

Thanks for reading Dealflow LatAm! Subscribe for free to receive new posts and support my work.

Subscribed