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!

This week’s newsletter is sponsored by Holafly:

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

Startup funding news 💸

🇧🇷 Creditas raises $60M in a bond issuance on the Stockholm Nasdaq at a 10.5% annual rate, maturing in 2028. $22.5M will be used for partial repurchase of bonds issued in 2023. The transaction was managed by Pareto Securities.

🇧🇷 Fully Ecosystem raises $33M from Prudential Financial International to expand its AI-driven wellness platform across Latin America. Serving 60,000 users in Brazil and Argentina, the startup offers integrated physical, mental, and financial health solutions and aims to reach 500,000 users by 2027.

🇲🇽 Prima raised $23M in Series A funding, totaling $42.5M, with backing from Quona Capital, Nazca, and others. Founded by Stanford MBAs, the company integrates U.S.-Mexico manufacturing with tech-driven solutions, serving over 200 clients.

🇲🇽 Sofía raises $13.5M to expand its health insurance platform and integrate AI into medical care. The round was led by Kfund, with participation from Index Ventures, Kaszek, and IDB Lab. The funds will help grow its SMB-focused offerings and enhance telemedicine and preventive care solutions.

🇧🇷 Nintx raises $10M from Pitanga, Guilherme Leal, and Peter Andersen to develop natural compound-based drugs and expand its labs and team.

🇦🇷 Numia raises $3.5M led by Cometa, with MatterScale Ventures and Boost Capital Partners. Funds will expand its AI-driven platform integrating offline and online customer data for 350+ clients in LatAm.

🇺🇾 Eywa secures $100K from Uruguay Innovation Hub to develop psilocybin-based mental health solutions and scale its biotech platform.

M&A transactions 🎊

🇵🇷🇲🇽 Evertec acquires the Mexican AI-driven credit risk startup Grandata to reinforce its growth strategy in LatAm and strengthen relationships with leading fintechs in the region. This acquisition enhances Evertec’s capabilities in AI, enabling it to better serve unbanked populations and meet the evolving needs of the financial sector.

🇧🇷 Transfero acquires Fuse Capital to expand its blockchain and DeFi financial solutions. The fintech will rebrand its VC arm as Fuse Capital, which will operate independently to develop DeFi products and venture building initiatives.

Investor & accelerator news 🚀

🇧🇷 BS2 launches a $16M CVC fund, BS2 Ventures, to invest in 12-15 Brazilian startups over 18 months. The fund targets fintechs "beyond banking" and plans checks of ~$807K each, focusing on seed to Series A rounds.

🇨🇱 Cenco Malls launches the 2024 Open Innovation Challenge to collaborate with startups on enhancing customer experiences, sustainability, and new services. Selected projects may receive funding, infrastructure access, and entry into Cencosud Ventures' portfolio.

🇨🇱 Toesca Asset Management and Astarte Capital Partners launch a $350M platform for regenerative agriculture, focusing on sustainable crops in Chile and LatAm.

🌎 GVC Gaesco and Next Tier Ventures launch a €50M fund to back 30-35 B2B AI startups in LatAm, Europe, and the U.S., focusing on innovative solutions in Mexico, Colombia, Argentina, and Chile.

🌎 500 Global will select 3 LatAm startups for its program, offering $300K investments and a year of personalized mentoring. Startups must use tech to solve major challenges and can apply directly via the program's website.

🇧🇷 BTG Pactual’s Boostlab 2025 will invest up to $330K in six LatAm startups, focusing on scalable, high-traction businesses. The 8-month program offers mentorship and support from Endeavor.

🇧🇷 GS1 Brasil Ventures opens applications to fund supply chain startups innovating in automation, traceability, and digitalization. Selected startups will receive investment, mentorship, and access to GS1's 60,000-member network, with results announced in early 2025.

🇧🇷 DGF Investimentos raises $33M for its eighth fund, targeting AI-driven software companies. Fundraising is expected to conclude by mid-2025, continuing its track record of strong, focused returns.

🇲🇽 IFE EdTech Summit 2025 runs January 28–30, focusing on Higher Education, Workforce, and Lifelong Learning. Featuring leaders like Bozena Pajak (Duolingo) and Freddy Vega (Platzi), it connects LatAm edtech startups with funds like 500 Startups and Salcantay.

Startup news 💡

🇪🇨 Kamina partners with Mastercard to promote financial inclusion and tackle over-indebtedness in LatAm. Kamina’s AI-powered platform analyzes financial risks and provides sustainable solutions to improve financial health and reduce defaults.

🇦🇷 Alprestamo, an Argentinian fintech, enters the Chilean market with a $1.5M investment to enhance financial inclusion. Partnering with CFC Capital, the platform aims to offer fast, personalized access to financial products, targeting 2.5M users in two years.

🇲🇽 Klar applies for a banking license in Mexico to expand its product offerings and enhance deposit security. The company has issued over $1 billion USD in loans and achieved operational profitability in five years.

🇨🇱 Creditú issued a $19M securitized bond to finance housing for subsidy recipients, promoting financial inclusion for underserved groups.

🇲🇽 Plata Card has received authorization from Mexico's CNBV to operate as a digital bank. Founded in 2022, the fintech aims to expand financial inclusion by offering innovative banking services and competing with traditional institutions.

Big company & policy news 💡

🇲🇽 BBVA launches AutoMarket for used-car financing, targeting 5,000 loans by 2025. The platform ensures secure, insurance-backed transactions and thorough inspections.

🇧🇷 Tax reform impacts Brazilian startups: Brazil’s tax reform removes cascading taxes, favoring industries but raising costs for service-based startups. Companies must adjust pricing strategies by 2026 to protect ROI.

🇧🇷 Proposed 10% tax on earnings over $99K USD: Starting in 2026, this tax may affect income-focused investors and business owners with exempt dividends, causing caution in tax-free investments. Existing holdings won’t be spared.

🇧🇷 Patria Investments secures $500M from a sovereign fund to target LatAm's $100B infrastructure pipeline over five years, focusing on energy and transportation. The firm aims to attract global investors, especially from Asia, while linking them to LatAm opportunities and empowering local investors with global market access.

Interesting reads 💡

🌎 LatAm fintech raised $2.6B in 2024, up 73%. Key 2025 priorities: blockchain, open finance, and streamlined regulations.