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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. However, the business banking space seems like it’s also undergoing some changes.
Long before SoftBank launched its $2 billion Innovation Fund in Latin America, and before Andreessen Horowitz began actively investing in the region , Sao Paulo-based Kaszek has been putting money into promising startups since 2011, helping spawn nine unicorns along the way.
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. The total investment includes pre-seeding capital raised in 2020.
NotCo , a food technology company making plant-based milk and meat replacements, wrapped up another funding round this year, a $235 million Series D round that gives it a $1.5 This funding round follows an undisclosed investment in June from Shake Shack founder Danny Meyer through his firm EHI. Brazil, Argentina, Chile and Colombia.
Skycatch today announced a $25 million raise, led by ADB Ventures and Wavemaker. The list includes Chile, Colombia, Peru, Brazil, Australia, Canada, the U.S., The funds will go toward expanding the 50-person company’s sales and marketing team — both of which have been fairly small portions of the company’s overall headcount.
Brazil and Mexico continue to lead as regions where many startups are getting funding, but as LAVCA’s statistics show, some of that investor love is being spread around to other countries like Colombia, Argentina and Chile. It also invested in Brazilian social grocery commerce company Favo , which raised a $26.5
Just five months after raising $90M, Brazil’s Nuvemshop announced today it has raised $500 million in a round co-led by Insight Partners and Tiger Global Management. billion and brings the Sao Paulo-based startup’s total funding in the last 10 months to more than $620 million.
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
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.
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. Secondly, it makes Buk the third most valuable startup in Chile after Cornershop and NotCo.
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. The money was raised “at well over a $200 million valuation,” according to co-founder and CEO Sujay Tyle. . “We
Nowports , an automated digital freight forwarder in Latin America, has raised $16 million in Series A funding. Mouro Capital — a venture capital fund focused on fintechs and adjacent businesses that is backed by Banco Santander — led the round for the Monterrey, Mexico-based startup. Nowports raises $5.3
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. Today, Nuvemshop is announcing that it has closed on a $90 million Series D funding led by Accel. Nuvemshop’s rapid growth caught the attention of Silicon Valley-based Accel.
Today, the company, which is building an “all-in-one expense management platform” for global startups, is announcing that it has raised a $57 million Series B at a $500 million valuation. Jeeves is currently beta testing in Brazil and Chile and Thazhmon expects that by year’s end, it will be live in all of North America and Europe.
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. While traditional mutual funds in Chile and Mexico charge up to 6.45% and 5% annually, Fintual charges 1% annually of assets managed. To date, the company has raised about $15.2
The company intends to expand into other countries where e-commerce is growing, including Colombia, Argentina, Chile and Peru. To do this, the company announced Tuesday $20 million in Series A funding co-led by Base10 Partners, Cometa, and 645 Ventures. Since then, the company became profitable, growing over 300% in 2020 alone.
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.”. Latin America’s second wave of digital transformation.
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
So, Campos set out to conduct a bigger sample of experiments, and raised about $10,000 via a crowdfunding campaign. After experimenting with the app with a sample of 700 people, Campos was even more encouraged and raised an angel round of funding for Yana , the startup behind her app. Plus, Yana is an amazing product.
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. Longer term, it is exploring the possibility of moving into other Latin American markets such as Colombia, Perú and Chile.
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. With the latest round, Houm has raised a total of $45 million since its inception.
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 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.
The company, which was founded in 2017, already has operations in Mexico, Colombia, Ecuador, Peru, and Chile. “We realized there was a gigantic opportunity to democratize and create infrastructure to move money,” Schwarzkopf told TechCrunch.
Founded in 2007 by Perez and Oscar Garcia Mendoza , who now serves as chairman of NovoPayment’s board, NovoPayment had been bootstrapped since inception until it raised its Series A round earlier this year, the company announced today. It plans to use the new funding to gain new customers, particularly in the U.S.
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. Lonardi says the company attempted to go after funding early on but noted that the angel investor landscape was not as prevalent six years ago.
Luxembourg, Hong Kong, Singapore and Chile. It is currently raising venture backing largely from strategic corporate investors. Competitors include Turnkey Group, Nasdaq OneReport, Enablon (which has raised $15 million) and World-favour. Fund managers can leverage ESG-related data to generate insights.
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.
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
As a longtime real estate developer based in Chile, Benjamin Labra was able to spot gaps in the buying and renting markets in Latin America. While QuintoAndar dominates the Brazilian market, Houm operates in Chile, Mexico and Colombia, and aims to capture the rest of Spanish-speaking LatAm.
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.
Today, one of the companies building headless tools is announcing a round of funding as it continues to expand its business. Chord, a headless commerce startup led by former Glossier execs, raises $18M.
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%
Small and medium-sized businesses in Latin America can find it difficult to get the funds they need to export their goods to the United States. Marco was backed last September by a small seed round from Struck Capital and Antler and over $20 million in a credit facility underwritten by Arcadia Funds.
Ecuadorian payments infrastructure company Kushki has raised $100 million in an extension to its Series B round, more than doubling its valuation to $1.5 The startup had raised $86 million in the first tranche of the financing in June of 2021 at a post-money valuation of $600 million. Europe, APAC and Brazil.
It also comes a day after fellow LatAm e-commerce aggregator Quinio announced $20 million in initial funding to acquire some 30 companies. At the time, the company touted it as “the largest Series B round ever raised in Latin America.”. Armed with $160M in funding, LatAm’s Merama enters the e-commerce land grab.
Cornershop, which is headquartered in Chile, was founded in 2015 by Oskar Hjertonsson, Daniel Undurraga and Juan Pablo Cuevas. The company expanded its operations to eight countries up and down the Americas, including Chile, Mexico, Brazil, Colombia, Costa Rica, Peru, the U.S. The company raised $31.7 and Canada.
Anthos Capital led the latest round, with additional participation from JAM Fund, whose founder Justin Mateen was an investor in the seed round. The company launched this month in Peru and Chile. Yummy raises $4M, aims to be ‘super app of Venezuela’. dollars for thousands of Yummers and drivers.”.
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. It also plans to use the money to accelerate its geographic expansion into additional markets across Latin America, including Peru, Ecuador and Chile.
Their vision is to connect people who have a smartphone with ways to earn income and raise their quality of life. We first connected with the pair back in 2019 when they had raised $4.4 Zubale, founded in Mexico City by two HBS grads, just raised $4.4 million to put locals to work over their phones.
announced a $30 million raise for its commercial and open source approach to neural search, for a more early-stage example. 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. This morning, Jina.ai
Today, the Japanese investment conglomerate is announcing the launch of the SoftBank Latin America Fund II, its second dedicated private investment fund focused on tech companies located in LatAm. SoftBank is launching the new fund with an initial $3 billion commitment. billion in 48 companies with a fair value of $6.9
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
To make the school more affordable, Henry looks to take on the same strategy used by Lambda School, a YC-graduate that has raised over $122 million in known funding: income-share agreements. Currently, Henry has graduated 200 students and is working with 600 students across Colombia, Chile, Uruguay and Argentina.
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