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

My name is Jaime Novoa and I’m a partner at Kfund. I spend the vast majority of my time investing in early stage startups as part of Kfund. We make investments of €100k to €10m in Southern Europe and LatAm. If you want to chat, drop me an email at jaime@kfund.vc

This is a free newsletter supported by sponsors. If you’re interested in sponsorship opportunities, drop me an email at jaime@dealflow.es

Startup funding news 💸

🇧🇷 Brazilian data AI consultancy Indicium raises $40 million for US expansion. The round was led by Columbia Capital Corp. led the round. The funding will support its expansion into the US market, aiming to extend its advanced data analysis services

🇪🇸 🇧🇷 Sheerme secures €5 million for expansion in Spain and Brazil. The Spanish company aims to broaden its consumer base and service offerings in both Spain and Brazil

🇨🇱 Reuse secures $4.5 million with Seaya Cathay and Cornershop founders. The company focuses on recycling and reuse initiatives

🇧🇷 Umgrauemeio secures $3.6 million for AI-driven firefighting tech. Backers included Baraúna Investimentos, Indicator Capital, The Yield Lab Latam and Rural Ventures

🇧🇷 Brazilian agtech SmartBreeder raises $3 million. The round was led by EcoEnterprises Fund

🇨🇱 Movener raises $2 million Series A, led by led by SQM Lithium Ventures

🇧🇷 Brazilian edtech Yuna lands a $1.6 million pre-seed round. The round was led by Canary. Positive Ventures also participated in the round

🇧🇷 Fleury, Sabin, and Bradesco Seguros fund invests Biologix. The company specializes in sleep medicine

🇧🇷 Meliuz acquires 19.4% of Zoppy: Brazilian company Meliuz acquired a 19.4% stake in CRM startup Zoppy, expanding its portfolio in the financial services sector and strengthening its market position

Startups looking for funding:

🇺🇾 SkyBlue Analytics seeks $1 million for further scaling: SkyBlue Analytics is a roboadvisor and fintech company

M&A transactions 🎊

🇧🇷 Travelier acquires Deonibus. Travelier, a Tel Aviv, Israel-based travel-tech company digitizing land and sea transportation, acquired DeÔnibus, a Brazilian online bus ticket platform. The amount of the deal was not disclosed.

🇧🇷 Nayax acquires VMtecnologia, expands in Latin America: Nayax, a global leader in cashless payment solutions, has acquired Brazilian company VMtecnologia. The transaction, initially valued at approximately $22 million, could rise to $27 million with performance-based earnouts. Nayax’s investment includes an upfront payment of $13 million in cash, complemented by subsequent payments linked to business milestones

Investor & accelerator news 🚀

🇧🇷 Link launches fund for wealthy students' startups: Link, an educational institution catering to affluent families and heirs, has introduced a fund specifically designed to accelerate startups founded by its students

🇨🇱 Broota launches third fund to support 15 high-impact startups: Chilean crowdfunding platform Broota has announced the launch of its third fund, which aims to invest in 15 startups with high-impact potential

Startup news 💡

🇲🇽 Swiss SulPayments and GameCash form strategic alliance for the Mexican gaming market: This collaboration aims to enhance payment solutions for gamers, streamlining transactions and improving user experience within the gaming industry

🇨🇴 Plenti expands with cross-border payment solutions: Plenti is expanding its services to include cross-border payment solutions, facilitating smoother financial transactions between the US and Colombia

🇧🇷 Cloud consultancy firm Tivit reports gross revenue of R$1.9 billion in 2023, a 10.4% growth

🇧🇷 Profile of Media Hero, a startup addressing CMOs' pain. The Brazilian startup managed to handle transactions worth around $600 million (R$3 billion) over a yea

🇲🇽 Briq.mx adopts Bitso for enhanced payment processing: Briq.mx, involved in blockchain and fintech, has partnered with Bitso to enhance its payment processing capabilities

🇵🇪 Máximo and AlfinTech partner to enhance digital banking in Peru: Alfintech, part of Alfin Banco and Grupo Coril, has entered into a strategic partnership with Máximo, a leading fintech in Peru aimed at the younger generation

🇨🇴 Yuno and Kushki form alliance to enhance digital payment ecosystem in Latin America: Yuno and Kushki have teamed up to strengthen the digital payment ecosystem across Latin America. Their alliance focuses on developing more integrated and user-friendly payment solutions, aimed at boosting the region's digital commerce capabilities

🇨🇱 Four startups innovate with algae in Chile: Huiro Regenerativo, Thalasso, Quelp, and Coral Bio are making waves in the Chilean startup scene by innovating with algae. These companies are exploring various uses of algae, from food and skincare products to environmental solutions, showcasing the versatility and sustainability potential of algae-based technologies

Big company & policy news 💡

🇦🇷 Mercado Libre reports 71% growth in earnings: Argentine ecommerce giant Mercado Libre announced a significant 71% increase in its earnings, demonstrating robust growth and solidifying its position as a leader in the Latin American ecommerce market

🇨🇱 Chile plans to introduce new AI regulation bill: In May, Chile is set to introduce a new bill focused on regulating AI. This legislation aims to create a framework for the ethical and responsible development of AI technologies, addressing both opportunities and challenges posed by these advancements.

🇨🇴 Bancolombia launches Wenia for digital asset trading: This move allows the bank to tap into the growing demand for cryptocurrency services, providing customers with secure and regulated options for engaging in digital asset transactions

🇧🇷 Nubank introduces loan portability feature for payroll loans: Brazilian fintech Nubank has introduced a new feature allowing customers to transfer their payroll loans to the bank

🇦🇷 Cristina Kirchner criticizes Mercado Libre and Globant: Former President Cristina Kirchner has criticized Argentine tech giants Mercado Libre and Globant, accusing them of monopolistic behavior and asserting that their business practices may be detrimental to the national economy

🇧🇷 PIX enhances the card industry, expands market, says Mastercard Brazil President: The President of Mastercard Brazil has highlighted that PIX, the instant payment system, is proving to be a valuable ally in the card industry. He noted that PIX helps expand the overall market for financial transactions rather than merely competing with traditional card services

Interesting reads 💡

Latin American EdTechs have raised $600 million in funding, reports Distrito: EdTech startups in Latin America have collectively raised $600 million between 2015 and 2024, according to a report by Distrito. This significant investment underscores the growing interest and potential in the region's educational technology sector, which continues to attract substantial funding for innovative learning solutions

Latin American startups secured $356 million in April. A report from Distrito highlighted that startups across Latin America captured a total of $356 million through 73 funding rounds in April, showcasing robust investment activity in the region