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In the last few months, we’ve seen an explosion in funding for consumer banking startups in Latin America, all eager to reinvent traditional banking in the region. Today, Chile-based Kredito announced a $4 million pre-seed round. While in beta, the company used data from more than 10,000 SMBs to train their AI models.
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.
Chile-based Xepelin aims to do the same with business-to-business payments via a SaaS payments infrastructure that includes financial information in real time, embedded financial services and data models, all to be a company’s “digital CFO” of sorts. We also want to win Mexico.”.
LatAm venture fund Kaszek Ventures led the equity portion of the financing, which also included participation from partners of DST Global and a slew of other firms and founders/angel investors. based asset managers and hedge funds — including Chilean pension funds — provided the credit facilities. LatAm- and U.S.-based
Merama, a five-month old e-commerce startup focused on Latin America, announced today that it has raised $60 million in seed and Series A funding and $100 million in debt. It is currently focused on Mexico, Brazil, Argentina and Chile. We are receiving significant inbound for a Series B already,” he said.
Some of the programs take equity in exchange for a seed round, some are free for participants, others work anywhere in between those two models. At the moment of writing, Seed-DB, a global database of seed stage accelerators, listed 235 programs (both active and defunct) that 5,688 startups had gone through.
Chile-based Migrante is working to change that. Initially starting in Venezuela, now with $30 million in Series A funding and $80 million in a debt facility, it is moving into both Colombia and Mexico. They started in Chile, which is a competitive market, and are now growing in Peru and into Colombia and other parts of the region.
The investors raised $40 million for their first fund after starting the firm in 2018 and have now closed on $100 million in capital commitments for MAYA’s second fund. With their first fund, they backed over 29 companies in 12 sectors across Brazil, Mexico, Colombia and Chile. Women make up just 2.4%
Argentina-based clicOH is the latest shipping technology company attracting venture capital funding, raising $25 million in Series A funding in a round led by Tiger Global. Joining them is JAM Fund and existing investors Flexport, FundersClub and Vast VC. A year ago, the company had 40 employees, and that has now grown to 175.
Garcia sees three different waves in this market: the first one being traditional supermarkets, where you can spend hours, which led to the second wave of food delivery companies, including some big players in the region — for example Rappi in Colombia, which in July raised $500 million in Series F funding at a $5.25
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
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. The startup’s revenue model is based on a success fee, or commission. IDC Ventures also participated in its latest funding round. he wrote via email.
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. “Everyone in our sector follows this model, but we are going to be the first ones to apply it to our region,” Ortiz said. Adapting to Latin America.
How to win consulting, board and deal roles with PE and VC funds. We propose that governments should systematically support funding for their diaspora founders, not just founders locally. There are three main players in any tech ecosystem: The first are founders who want to build companies and need funding.
million in Series A funding. The round will be extended for up to $20 million to give Wonder Brands around $40 million in total funding, Federico Malek, co-founder of Wonder Brands told TechCrunch via email. Wonder Brands , an acquirer of e-commerce brands in Latin America, announced today the closing of $15.5
VC fund (A, B, C…). What’s crazy about this is that the guy who’s actually making money is being laughed at — it’s just so much better to have a gazillion eyeballs (and no business model). Last year while participating Startup Chile, I got the chance to meet Kevin Koym , a serial entrepreneur running an accelerator in Austin.
While the pace of funding these days is unlike most of us have ever seen before, it’s pretty remarkable that Jeeves essentially signed the term sheet for its Series B just two months after closing on its Series A. and The Chainsmokers’ Mantis Venture Capital. Mexico is its largest market.
billion of that capital has been allocated across more than 80 investments, according to Juan Franck, managing partner of the SoftBank Latin America Funds. We continue to be extremely excited about the opportunities in LatAm,” said Alex Szapiro, managing partner of the funds, in an interview. “It And last year, Latitud raised $11.5
Retail Rocket , a retention management platform for brands, today announced that it raised $24 million in a Series A round led by Cyprus-based private equity fund Flintera. ” According to Khlebinsky, Retail Rocket uses a mathematical model to segment first-time buyers of a company’s product.
Weder planned on using the Series A funding to expand across Mexico and Latin America — a market he told me represents a $600 billion opportunity — and that’s just what the company did. That further expansion is backed by a new round of funding, this time $152 million in Series B funding, again led by General Atlantic.
Julio Vasconcellos is the managing partner of Atlantico , a venture capital fund focused on Latin America. In the insurance space, similar changes are giving way to innovative models like 180 o in Brazil and Betterfly in Chile. Julio Vasconcellos. Contributor. Share on Twitter. More posts by this contributor. in 2021 from 2.3%
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.”.
About 85% of NovoPayment’s customers were located in LatAm, in countries including Venezuela, Chile, Columbia, Peru and Mexico as of September last year, with the remaining 15% in the United States, PaymentsDive reported. It plans to use the new funding to gain new customers, particularly in the U.S.
The company is already active in 33 countries (most recently Chile, Colombia and Romania) and has some 3 million businesses as customers. The funding is coming from Goldman Sachs, Temasek, Bain Capital Credit, Crestline and funds managed by Oaktree Capital Management.
Less than six months after raising $8 million in seed funding, Chilean proptech startup Houm has raised $35 million in a Series A round led by Silicon Valley venture capital firm Goodwater Capital. Its model is similar to that of Brazilian unicorn QuintoAndar , which has also raised significant capital this year.
Just as the first California wine to win a blind-tasting in France in 1976 created legitimacy for all wine producers in Northern California and created hope for producers in places such as Chile, Argentina and Australia, the success of one tech entrepreneur in an emerging market can lead to a new valuation for all who follow.
Leasy, a startup that offers automobile financing to ride-hailing drivers in Latin America via a subscription model, has secured $2 million in equity and $15 million in debt. Leasy plans to use the data it has collected internally for a predictive analytic model to estimate when people are most likely to default.
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.
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. I spoke to Ralf Wenzel, JOKR’s founder and CEO, about, according to him, why his company’s model is doing better than most.
We last profiled SIMULATE back in 2021 when it raised $50 million in Series B funding , which valued the company at $260 million. Nowadays’ pea-based nuggets debuted in Whole Foods stores in California, and Chile-based NotCo launched its plant-based chicken sandwiches and nuggets in Burger King Chile.
Today, one of the companies building headless tools is announcing a round of funding as it continues to expand its business. The interesting thing about “headless” platforms is that they are becoming a much bigger part of the equation when it comes to building and running e-commerce experiences.
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. .
million Series A funding round — bringing its total raised since January 2020, when the business was founded, to $13.6M. Investors in the round include a mix of national and international funds, including Spain’s Seaya Ventures, a new backer of Payflow and Cathay Innovation via its C.
Iker introduced us to Thrasio’s business model and we got excited,” Juan Gavito told TechCrunch. “We The company will also expand its staff — at 33 people today — to over 100 by the end of next year as it begins looking for brands outside of Mexico in Chile, Colombia, Brazil and Argentina. For example, in the U.S.,
In a tightening capital market in which Atman has closed on $9 million for a fund targeting $30 million, the extra enticement — atop the 80% in profits that LPs typically receive from successful outcomes — is also smart. The fund plans to invest at the pre-seed and seed stages with checks averaging from $750,000 to $1.5
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.
One of its early customers is Babytuto , a parent and baby product retailer in Chile that initially worked with the company for Cyber Monday. The company raised $8 million in seed funding that values the company at a whopping $110 million.
In Africa and the Middle East, Treepz and Swvl use a similar model for both intra- and intercity bus travel, minus the bus attendant. Kolors will use the funds to deepen its coverage in Mexico and parts of the U.S., as well as expand into other Latin American countries, likely starting with Chile.
In the case of AutoCloud, that’s a SaaS model that will feature pricing tiers based on the number of assets tracked. It’s worth noting that Chicago-based AutoCloud is a standard startup of the day in that it has a team in multiple locations, including Argentina and Chile. Kunovsky has big aspirations for the company.
Uils analyzes their history using a machine learning model to determine whether they qualify for a “micro” or consumer loan, considering various factors. “In that same account, they receive loan funds and pay their installments every week. ” Image Credits: Uils.
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). Innovamat will be using the funding to expand its business. in New Jersey.
ChatGPT was recently super-charged by GPT-4 , the latest language-writing model from OpenAI’s labs. Paying ChatGPT users have access to GPT-4, which can write more naturally and fluently than the model that previously powered ChatGPT. Turbo through the company’s API can make the model better follow specific instructions.
Last fall, I penned a blog post around our Series F funding, focused on the fact that the era of experimental AI is over. billion models on our cloud platform. Additionally, we’re announcing our acquisition of Algorithmia , a leader in MLOps. . An Unprecedented Market Opportunity. I stand by that notion wholeheartedly.
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