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Nuvemshop has seen the number of merchants on its platform surge to nearly 80,000 across Brazil, Argentina and Mexico compared to 20,000 at the start of 2020. Having just raised $30 million in a Series C round in October and achieving profitability in 2020, the Nuvemshop team was not looking for more capital.
Pomelo, a startup building a fintech-as-a-service platform for Latin America, has raised $9 million in a seed round of funding. Cards have an estimated payments volume of $900 billion per year, and yet 95% of these transactions are being processed by local incumbents, asserts Pomelo. This round caught our eye for a few other reasons.
Kavak , the Mexican startup that’s disrupted the used car market in Mexico and Argentina, today announced its Series D of $485 million, which now values the company at $4 billion. The round was led by D1 Capital Partners, Founders Fund, Ribbit and BOND, and brings Kavak’s total capital raised to date to more than $900 million.
Digital House , a Buenos Aires-based edtech focused on developing tech talent through immersive remote courses, announced today it has raised more than $50 million in new funding. Riverwood Capital, a Menlo Park-based private equity firm, and existing backer early-stage Argentina-based venture firm Kaszek also participated in the financing.
The back-to-back raises are a reminder that edtech’s relevance in LatAm isn’t just growing in classrooms, but also within organizations across LatAm. The company announced this week that it has raised a $13.5 Crehana announced today that it has raised a $70 million Series B just months after a $13 million Series A extension round.
Just over five months after raising a $9 million seed funding round , Latin American fintech Pomelo announced today that it is raising $35 million in Series A financing led by Tiger Global Management. In Argentina, it was granted a Mastercard and payments license.
Bitso , a regulated crypto exchange in Latin America, announced today it has raised $250 million in a Series C round of funding that values the company at $2.2 For one, it comes just four months after the startup raised $62 million in a Series B round. The news caught our attention for several reasons. Image Credits: Bitso.
Mercado Bitcoin , a Latin American digital assets exchange, has raised $200 million in Series B funding from the SoftBank Latin America Fund. For its part, SoftBank Latin America Fund described Mercado Bitcoin as a “regional leader in the crypto space” that is “ tapping into a huge local and regional addressable market.”.
The Argentina-based, yet fully remote, startup was founded in 2019 — just a few months before the pandemic. Quiet Capital, Preface Ventures, FJ Labs, AforeVC and K50 Ventures also put money in the latest round, which brings Osana’s total raised over its lifetime to $26.5 Lee Fixel’s Addition is also an investor.
Treggo , an Argentina-based company, is among companies like 99 Minutos , Cubbo and Cargamos tackling the last-mile deliveries. In Treggo’s case, developing technology to make urban shipments in Argentina, Mexico and Chile easier and for merchants of any size can provide an Amazon-like service for their customers.
Belvo , a Latin American startup which has built an open finance API platform, announced today it has raised $43 million in a Series A round of funding. Citing Crunchbase data, Belvo believes the round represents the largest series A ever raised by a Latin American fintech. Belvo’s goal is to link all sorts of accounts together.
Mudafy , a tech-enabled real estate broker operating in Latin America, has raised $10 million in a Series A round of funding led by San Francisco-based Founders Fund. In total, the startup has raised $13 million. Latin America’s slowing VC market hides local strength. IDC Ventures also participated in its latest funding round.
For good reason, too: Startups have raised $9.3 Investors should bring a local strategy that makes them an asset to Latin America’s startup ecosystem. For instance, e-commerce giant MercadoLibre launched in Argentina around the time eBay was emerging. However, much of this investment comes from local and regional investors.
Macrometa , the edge computing cloud and global data network for app developers, announced today it has raised a $20 million Series A. It will hire for its engineering and product development centers in the United States, Eastern Europe and India, and add new centers in Ukraine, Portugal, Greece, Mexico and Argentina.
The startup currently offer users integration to local banking in the U.S. brokerage operating in Latin America, it can offer global equities while operating in several countries without requiring local licenses, unlike most local offerings in the region, the investor points out. Image Credits: Vest.
Canada, CIS Region, Malaysia, Indonesia and Argentina — with the startup offering proprietary localized content for each target region (although its users are spread across some 40 countries). Kodland’s remote courses for children aged 6-17 are currently available in the U.K., Ireland, the U.S.,
The company has now raised a total of $70 million since its inception in 2018. Marietti, who is from Argentina, was working in food tech and saw that modern delivery services were only able to offer limited food options and pricing, and was a trade-off between convenience and variety. million Series A round led by Fuel Venture Capital.
where most people have a cell phone plan through a major carrier, in Brazil — a country where the minimum wage is currently $1,100 reals per month (roughly $202 USD) — many people must buy calling cards at local shops to add credit to their phones, which allows them to avoid a monthly recurring bill. Unlike in the U.S.
Business is booming in Latin America: Startups raised $9.3 With so many companies raising significant funds in a short time, competition to find a high quantity of high-quality workers is fierce. AI companies have garnered some of the most attention in Latin America this past year, raising a total $862.6
Puna Bio , which raised a $3.7 These critters already operate at peak performance, reliably producing nitrogen, phosphorus or performing other tasks at rates or under conditions that local microbes balk at or tire out quickly in. In this case, however, there isn’t even the need to activate latent genes or tweak the processes.
The company has raised over $86 million over its lifetime and counts NewView Capital and SoftBank’s SB Opportunity Fund among its backers. Meanwhile, Yaydoo has raised over $20 million from investors such as Base10 Partners, monashees, SB Opportunity Fund and Leap Global Partners. “We Klarna recently raised $800 million at a $6.7
Some good news, too: The pear tree is fruiting : Connie reports that Silicon valley VC firm Pear is raising a $410 million fund ; this is a huge step up from its previous $50 million, $75 million, and $160 million funds. It just makes so much sense…. Cisco’s latest results indicate a reckoning may soon be at hand. Data disasters : The U.K.
The startup has raised $110 million in a growth funding round led by U.K.-based The company raised $170 million in 2020 in a round led by Viking Capital after landing an undisclosed amount from Visa Ventures in 2018. Outside of Brazil, it has operations in Mexico, Peru, Chile, Colombia, Argentina, Ecuador and the Dominican Republic.
They are also closely watching developments in generative AI services — so concerns raised in the letter look broadly aligned with issues already on the radar of the bloc’s data protection authorities. Mass data scraping of personal information can constitute a reportable data breach in many jurisdictions.”
Co-founder Sacha Michaud believes these markets are currently underserved, and Glovo has found the right opportunity to work with local restaurants, bringing them online to reach new customers in a bid to “make everything, within all towns and cities, available to everyone.”
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