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Three years after raising a $500 million fund , European venture capital firm Northzone is back with what partners are calling its “largest fundraise to date” of €1 billion, or $1.01 billion, for its tenth fund. Same for Peru-based Salkantay Ventures , which said it closed on $26 million for its first fund , Salkantay Exponential Fund.
Enter Skydropx , a Mexico City-based logistics management company that enables businesses to create an end-to-end automated delivery experience for customers that includes over 250 shipping options, track notifications via WhatsApp, estimated delivery times and return management.
Kaszek Ventures , one of Latin America’s first venture firms, has raised $975 million across two funds. Specifically, the São Paulo-based firm has closed on Kaszek Ventures VI, a $540 million early-stage fund and Kaszek Ventures Opportunity-III (KVO-III), a $435 million vehicle for later stage investments. billion in capital.
Yummy, a Venezuela-based delivery app on a mission to create the super app for the country, announced Friday it raised $4 million in funding to expand its dark store delivery operations across Latin America. 1 super app in Venezuela and proven that the team can scale the business in a difficult territory,” Mateen said in a statement.
Less than a year after taking its first funding , Latin American local on-demand delivery and transportation super app Yummy is back with an upsized round of $47 million. The round was led by Anthos Capital, with the participation of JAM Fund, Soma Capital, WIND Ventures, Ethos Capital and YC Continuity. That is poised to be a $9.3
99minutos, a logistics service company for e-commerce vendors across Latin America, is making fast work out of attracting funding. It announced today $82 million in Series C funding, led by Oak HC/FT, with participation from existing investors Kaszek and Prosus Ventures. That interest didn’t happen before,” he added. “It
It also comes a day after fellow LatAm e-commerce aggregator Quinio announced $20 million in initial funding to acquire some 30 companies. Armed with $160M in funding, LatAm’s Merama enters the e-commerce land grab. The latest funding will enable the company to expand into Argentina and the United States.
T ruora , a Colombian user authentication startup, has raised $15 million in Series A funding co-led by two Silicon Valley-based venture firms. The company has offices in Colombia, Mexico, Brazil, Chile, Peru and San Francisco. Founded in August 2018, Truora was originally focused on background checks for gigster platforms.
Those backers include Kaszek Ventures, Clocktower Ventures, SoftBank Latin America Fund and DILA Capital, among others. The only things that changed were the economics and speed of business.”. Specifically, it enables LatAm businesses to a ccept payments globally and receive money in their local currency.
Italian-born Gregorio Gilardini and Alejandro Garay, who hails from Spain, met in Peru several years ago and discovered they both had an interest in using technology to make a social impact and help people escape “the poverty trap.”. A lot live day to day and drivers are like ghosts in the system.”.
Companies that offer banking as a service and help other businesses offer their own financial services and products in particular continue to rake in the dollars. The startup has raised $110 million in a growth funding round led by U.K.-based based Lightrock and Silver Lake Waterman, bringing its valuation to over $1.5
With more people in Latin America getting used to making purchases digitally, the company has experienced a major surge in business over the past year. These businesses range from direct-to-consumer (DTC) upstarts to larger brands such as PlayMobil, Billabong and Luigi Bosca. So we pre-emptively asked them to let us invest.”.
One of those startups is Chilean-based Fintual, which today announced a $15 million round led by Kaszek Ventures, the largest fund in Latin America. He traveled for a couple of years, and learned to code, among other things, until Omar Larré, Fintual’s current CIO, presented him with the idea for the business. .
The main observation of differences between Silicon Valley and emerging tech hubs in the rest of the world is access to early stage seed funding and international press. Paul Bragiel, founder of I/O Ventures launched the Savannah Fund to invest in East african startups. Startups are aiming for a global, not local market.
Today the fast-growing grocery and retail delivery platform has closed a whopping $170 million Series A funding round. JOKR’s team consists of people who created both foodpanda and Delivery Hero, so from the outside at least, they have the chops to build a big business. Latin America and Europe. Latin America and Europe.
After several failed startup attempts and nine years spent building Nuvemshop into Latin America’s answer to Shopify, the four co-founders of the company have managed to raise $30 million in venture capital funding as they look to expand their business. and managing director at Qualcomm Ventures Latin America.
Millions of tons of cargo are transported each year via the Pan-American Highway and its branches across Colombia, Ecuador, Peru, Chile, Bolivia and Paraguay. obtaining a master’s degree in Business Administration from Babson and an M.A. DeltaX’s seed round was backed by several funds from the U.S.
In fact, the evolution of business shares far more similarities across countries than we might expect. Big funds are now dedicating resources to exclusively targeting Latin America, from SoftBank creating a region-specific fund, to Sequoia saying it will pay more attention to the region. investors remain shy.
The funding announcement includes $600,000 from a pre-seed tranche. Currently, Rebill has clients in Argentina, Chile, Colombia, Mexico, Peru and Uruguay and collects payments in 15 currencies. The new funding enables Rebill to continue expanding its presence into the rest of Latin America.
Chile’s Buk , which has developed a human resources management platform for Latin American companies, announced today that it has raised $50 million in a Series A funding round that values the company at $417 million. We have been able to double our size year over year [without institutional funding],” he said.
Uber CEO Dara Khosrowshahi said in a statement that the company’s grocery and new verticals business has exceeded a $3 billion annual bookings run rate for this year. The company expanded its operations to eight countries up and down the Americas, including Chile, Mexico, Brazil, Colombia, Costa Rica, Peru, the U.S. and Canada.
And today, it announced that it has raised $6 million in Series A funding. The new funding comes from Leo Capital, FJ Labs, Alpha4 Ventures and Meesho. Indeed, one of its next steps is expanding across Latin America, starting with Mexico and then Peru.
Schwarzkopf and his business partner, Sebastián Castro, had previously built and sold a fintech called Leaf in the U.S. The company, which was founded in 2017, already has operations in Mexico, Colombia, Ecuador, Peru, and Chile. “We never thought that we would return home [from the U.S.]
Naspers, via its investment arm, Naspers Foundry, co-led the investment with Cathay AfricInvest Innovation Fund. The company says there are plans to launch Rumbo in Lima, Peru later this year. “The global food and e-commerce businesses, often operating in emerging markets, are quite reliant on mobility solutions.
million in Series A funding to continue developing its app that takes grocery orders through local social networks. The latest round gives the company about $37 million in total funding since the company was started in 2019 by Alejandro Ponce and Marina Proença. Favo launched in Peru in 2020 and then Brazil.
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. In May 2020, Belvo raised a $10 million seed round c o-led by Silicon Valley’s Founders Fund and Argentina’s Kaszek. Belvo currently operates in Mexico, Colombia and Brazil. .
UBITS, a B2B online learning platform for upskilling employees in Latin America, has raised $25 million in funding led by Riverwood Capital. Over the years, UBITS has expanded to Mexico and Peru and, in fact, it now has dual headquarters in Mexico, where its two co-founders now live.
We noted earlier this year that grocery delivery is a tough business to be in , given the competitiveness of the market and later-stage funding drying up for cash-intensive sectors like this one. 1 that the business model works. The instant grocery delivery game is not for the faint of heart. For us, this is proof point No.
Bold , a technology company working to enable financial access to electronic payments in Colombia, has raised $55 million in a Series B funding round led by Tiger Global Management. Bold is laying critical groundwork for small businesses to begin expanding their customer bases and entering the next generation of payments,” Vélez said.
Mentum is out to change that in Latin America, and is working on customizable investment APIs and widgets so businesses in Latin America can build and offer fully digital investment products, like local mutual funds, ETFs and stocks, to their customers. The products are also compliant with local regulations.
We have three sections of startup news today, starting with mobility, continuing with venture fund news, and closing with a neat startup round. Everyone has a fund these days, and given the amount of market enthusiasm to fund blockchain projects, we’re not shocked to see another. Startups/VC.
Europe, LatAm and Europe, today announced that it has raised a $20 million Series B funding round led by Redpoint eventures. Existing investors Daphni , Imaginable Futures , Pearson Ventures , Reach Capital and Trinity Ventures also participated in this round, which brings Holberton’s total funding to $33 million.
Two new funds got announced this morning; Haje covered Hannah Grey’s $52 million debut fund , focusing on customer-centric founders, and Christine took a look at Bonfire Ventures, which raised a pair of funds, totaling $230 million , targeting B2B software startups. . Startups and VC.
This will include everything from funding rounds to trends to an analysis of a particular space to hot takes on a particular company or phenomenon. The company has raised over $86 million over its lifetime and counts NewView Capital and SoftBank’s SB Opportunity Fund among its backers. Another day, another Q2 funding report.
Ursa Major is scaling up its ambitions to disrupt the vertically integrated launch sector with a fresh round of funding. Astranis signed a $90 million agreement with Latin American telecom company Grupo Andesat to deliver broadband internet access to rural Peru. Image Credits: Ursa Major (opens in a new window).
Nowports , an automated digital freight forwarder in Latin America, has raised $150 million in a Series C funding round which values the company at $1.1 It also marks Nowports’ third equity raise in less than one year’s time, and brings its total funding to over $240 million since its 2018 inception. It has more than 500 employees.
.” Demand for Flink’s product is not only coming from Mexico, but from other Latin American countries such as Colombia, Chile, Peru and Argentina. Flink also plans to use its funding in part to continue improving the user experience and product offering, as well as to add to its current headcount of 60 to be able to meet rising demand.
Prendea: Peru-based startup that offers live, online after-school classes for Spanish-speaking kids. Still, it’s noteworthy that we’re not seeing too much experimentation in business model here, despite the pandemic and that some schools have begun to invest more in edtech services. The startup has a focus on quality and affordability.
But when Strauss searched for a solution in LatAm that would fit the needs of businesses in the region, he came up empty — so he decided to build it himself. Eventually, Strauss hopes to expand the product across the LatAm region to businesses in Uruguay, Peru, Argentina and other countries that face similar challenges.
Innovamat will be using the funding to expand its business. It has been around since 2017, operating initially in Spain before expanding to Italy and several countries in Latin America (Mexico, Colombia, Chile, Ecuador, Brazil and Peru). Most recently, it started its first K-5 pilots in the U.S., in New Jersey.
RecargaPay originally had operations in various Latin American countries, such as Argentina, Chile, Colombia, Mexico, Peru and Brazil, as well as in Spain and the U.S. Cell phones caught on quickly in Brazil because it has traditionally been difficult to obtain a landline — an ordeal that often took several months to solidify.
Organizations that rely on donations and grants for funding are being forced to look at their revenue portfolios and determine whether their revenue streams will be sustainable in the foreseeable future. Nonprofits are reimagining funding models and will have to think innovatively to ensure their mission continues.
Before I left for Peru, I did an interview for the Big Vision Podcast with Jonah Sachs, the Principal of Free Range Studios , an advertising and marketing firm with offices in Washington DC and Berkeley, California that specializes in non-profits and socially responsible businesses. Britt: How did you get started?
Are they women with families, are they young, are they old, and how are they fitting the training into what I am sure is a very busy, and already challenging life? We are also in discussions in Peru, in Burkina Faso, and in Botswana as well. Who are the women who are showing up? CH: Right, exactly. Well, they are all of the above.
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