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Transportation startup DeltaX is accelerating its plans to digitize the trucking industry in its native Bolivia and beyond thanks to a recent $1 million seed round. 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.
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.
Across Latin America, e-commerce purchases are expected to grow by double-digits annually by 2024. The company intends to expand into other countries where e-commerce is growing, including Colombia, Argentina, Chile and Peru. Anyone purchasing something online has had that one instance where the delivery method failed.
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. The company’s self-proclaimed mission is to promote financial inclusion by expanding the digital payments ecosystem in Colombia. .
Those backers include Kaszek Ventures, Clocktower Ventures, SoftBank Latin America Fund and DILA Capital, among others. Put simply, Kushki aims to help make it easier, cheaper and more secure for businesses across LatAm to send and receive/process digital payments. Europe, APAC and Brazil.
The latest such company in Latin America is São Paulo-based Dock , which operates a full-stack payments and digital banking “platform” across the region, where demand for financial infrastructure that can help boost inclusion is massive. The startup has raised $110 million in a growth funding round led by U.K.-based
Merama , which acquires or launches Latin American digital brands, hit a $1.2 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. billion in 2023.
The digital transformation of banking and payments services is a red-hot trend that’s shown no signs of slowing down. It plans to use the new funding to gain new customers, particularly in the U.S. NovoPayment’s founder and CEO Anabel Perez Image Credits: NovoPayment.
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. Latin America’s digital transformation is making up for lost time.
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.
And today, it announced that it has raised $6 million in Series A funding. Besides its digital focus, Oschin said said Elenas is better for the resellers because there’s less risk: “We don’t hold inventory for the company, which is very different than traditional direct sales, and our entrepreneurs don’t ever hold inventory.”
Some of the functionalities they build enable both local and cross-border payment players in credit and debit cards, bank transfers, digital cash, mobile wallets, and other alternative payment methods. “We The company, which was founded in 2017, already has operations in Mexico, Colombia, Ecuador, Peru, and Chile.
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. As a result, they decided to ramp up Migrante into other underbanked communities, including Peru. Chile-based Migrante is working to change that.
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. Today, Nuvemshop is announcing that it has closed on a $90 million Series D funding led by Accel. Demand for Nuvemshop’s offering was already heating up prior to the pandemic.
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.
At the time, Zubale was slightly different, looking to connect big corporations with workers to take on tasks, like market research to earn mobile phone credits or other kinds of digital rewards. Zubale’s operations began in Mexico and have since expanded into Colombia, Costa Rica and Peru.
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 To quote my colleague Anna Heim, digitizing freight forwarding is a global challenge because the sector still lacks transparency and efficiency. It has more than 500 employees.
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. .
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.
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.
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.
T ruora , a Colombian user authentication startup, has raised $15 million in Series A funding co-led by two Silicon Valley-based venture firms. Truora participated in Y Combinator’s Winter 2019 cohort and soon after expanded into digital identity and authentication technologies. That March, it raised $3.5
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. Teijeiro explained that RecargaPay and Nubank, LatAm’s largest digital bank, are not direct competitors, but rather operate in the same ecosystem.
DLocal’s founders had first launched AstroPay, another digital payments platform that now has over five million users. Eventually, Strauss hopes to expand the product across the LatAm region to businesses in Uruguay, Peru, Argentina and other countries that face similar challenges.
“We believe that crypto has a big opportunity to digitize cash,” said Patricio Jutard, co-founder and general partner of Newtopia VC. That’s why I invested in Buenbit, one of the largest exchanges in countries like Argentina and Peru. These factors also give us an indication of where crypto might be going.
A source tells us Founders Fund is also investing. We’re very excited for the impact they’ll have here at OpenAI,” OpenAI wrote in a brief post published to its official blog. The entire team has joined OpenAI to work on our core products including ChatGPT.”
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