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1) Access to the internet in Mexico has grown very rapidly over the last decade. How has this impacted individual giving to NGOs in Mexico? When we started Fondeadora in 2011 (the first creative crowdfunding platform in Mexico, renamed to Donadora in 2016), processing online payments was very difficult.
Importers and exporters that need to move products between the United States and Mexico typically have to work with a number of different vendors to help with different pieces of that process. “A A truckload from Mexico to the U.S. will have to hire a trucking company in Mexico. Chhugani explained. Chhugani explained.
Super.mx , an insurtech startup based in Mexico City, has raised $7.2 million seed round, which also saw capital from 500 Startups Mexico, Village Global, Anthemis and Broadhaven Ventures, among others. Like the US, a two-tier venture capital market is emerging in Latin America. million in a Series A round led by ALLVP.
million in a seed round in June 2020 and followed it with $10 million in debt from emerging markets-focused venture debt fund Lendable in December. The fund doubled its participation in this recently raised debt round at $20 million, while other investors completed the rest. However , the main reason is market size.
The two founders of Parrot Software , Roberto Cebrián and David Villarreal, first met in high school in Monterrey, Mexico. The company is already live in more than 500 restaurants in Mexico and is used by chains including Cinnabon, Dairy Queen, Grupo Costeño and Grupo Pangea. It’s a big category that’s expected to reach $6.94
However , some venture firms have taken this up a notch by bringing founders to create a fund and invest together. Since the firm’s first fund launched in 2017, MAGIC has invested in 70 companies at pre-seed and seed stages across these emerging markets. MAGIC Fund has 12 founders who act as general partners.
Still, Latin America remains an under-penetrated market in the increasingly crowded space. Nelo , a startup founded by former Uber international growth team leads, began offering buy now, pay later services to Mexico earlier this year. To be clear, Nelo is not the only player in the Mexican market.
Now it’s set a goal of investing in 100 more startups with the launch of its second emerging market seed-stage fund, called Seedstars International Ventures II (SIV), with a first close of $20 million. One difference between SIV II and the first fund is that it can writer bigger checks.
Rali_cap , an early-stage venture capital firm focused on emerging markets fintech, has launched a $30 million fund. Last month, the firm, formerly known as Rally Cap Ventures, reached its first close of $20 million (its initial target) before increasing the fund size, signaling a strong LP appetite.
This is especially true in emerging markets like Latin America, where SMEs comprise 99.5% In Mexico, for instance, 97.4% Thus we’ve seen the funding of mobile-first website builder Univer.se, which raised $47M from Google Ventures, General Catalyst, and Addition. of firms in the region.
Zero Foodprint takes the top slot, for funding regenerative farming through a model so simple, it becomes radical: Restaurants, grocers, and food companies are asked to contribute 1% of consumer purchases to directly fund farm conversions. Read more about Zero Foodprint , honored as No.
CEO and co-founder Aaron Polhamus said he, Miguel Arroyo and Jaime Rodas were driven to start Mexico City-based Vest in December 2020 because of their belief that while Latin Americans work hard for their savings, “historically their savings have not worked hard for them.”. Image Credits: Vest. “That’s not us.
Many of the startups raising capital in Mexico are focused on financial inclusion, aiming to level the playing field in a country that is largely unbanked and has a burgeoning middle class. million in debt from Banco Sabadell Mexico — brings minu’s total raised since its 2019 inception to a total of $20 million. .
Mexico has been known as an up-and-coming tech hub and a gateway to the Latin American market. As an investor focused on developer-centered products, open-source startups and infrastructure technology companies with a particular interest in emerging market innovation, I have been wanting to do some firsthand learning there.
He met his co-founders David Hernandez and Amran Frey at Konfio, and, along with Israel Garcia, started Aviva , a Mexico-based fintech startup focused on bringing working capital to unserved communities. million in pre-seed funding, the company is rolling out a network of physical and digital onboarding kiosks. Now buoyed by $2.2
Foodology has been whipping up its restaurant brands in cloud and virtual kitchens in Colombia and Mexico since 2019, and with a new infusion of capital, hopes to scale that across Latin America. The Bogotá-based company closed on $15 million in Series A funding in a round led by Andreessen Horowitz and Base Partners.
One such startup, Tribal Credit , launched its beta in late 2019 to provide payment products for startups and small to medium-sized businesses (SMBs) in emerging markets. Brex , which has amassed $465 million in venture capital funding to date, also markets a credit card tailored for startups. Image Credits: Tribal Credit.
Tech investments in emerging markets have been in full swing over the past couple of years and their ecosystems have thrived as a result. Some of these markets like Africa, Latin America, and India, have comprehensive reports by publications and firms on trends and investments in their individual regions. Let’s dive in.
Lux Capital, known for investing in life science and frontier tech startups, is back in the market to fundraise for its latest vehicle — but this time without a dedicated late-stage entity. million to the fund. The fund will combine the firm’s early and late-stage investing strategies into one pool.
Kavak , a Mexico City-based startup that operates a pre-owned car marketplace in Latin America, announced today that it has raised a massive $700 million in a Series E round that more than doubles the company’s valuation to $8.7 The startup currently has 40 logistic and reconditioning hubs in Mexico, Brazil and Argentina.
Flat.mx, which wants to build a real estate “super app” for Latin America, has closed on a $20 million Series A round of funding. Founded in July 2019, Mexico City-based Flat.mx The real estate market in Mexico is broken,” said co-founder Bernardo Cordero. Mexico doesn’t have a Multiple Listing Service (MLS).
Tala , an emerging markets digital lender that offers loans between $10 to $500 to consumers and small business owners, has raised $145 million in Series E funding. Existing investors IVP, Revolution Growth and Lowercase Capital also joined the round that brings Tala’s total funding raised to a little over $360 million.
The concept has grown in popularity in recent years, especially in markets such as the United States, Europe and Australia. Numerous players abound, all fighting for market share — from Affirm to Klarna to Afterpay, among others. Nelo is not the only player in the Mexican market. million since its 2019 inception.
Kolors, a Mexico City-based startup, says its platform that connects intercity bus riders with bus drivers is like “if Uber and Southwest Airlines had a baby.” In emerging markets, similar products are creeping up to address what Kolors CEO and founder Rodrigo Martínez says is something of an antiquated industry.
Savannah Fund , a pan-African venture capital firm, today announced a $25 million fund as it looks to back more early-stage startups on the continent. Since launching in 2012, Savannah Fund — led by Mbwana Alliy and Paul Bragiel — has backed more than 30 startups. Mbwana Ally (Managing Partner, Savannah Fund).
Early-stage venture capital fund Newtopia VC launched Monday with $50 million to invest in tech startups based in Latin America. The fund will invest between $250,000 and $1 million in startups at the seed stage to help them achieve the milestones needed on the path to raising a Series A. We aim to help entrepreneurs in those stages.
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. market in the verticals of e-commerce, marketplaces, fintech and software. million Series A last October.
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.
Jüsto , an online supermarket based in Mexico City, announced Tuesday it has raised $65 million in a Series A round led by General Atlantic. It claims to be the first supermarket in Mexico with no physical store. Mexico City’s Jüsto raises a $12 million bridge round for its delivery-only grocery stores.
Accel announced Tuesday the close of three new funds totaling $3.05 fund at $650 million; its seventh early-stage European and Israeli fund also at $650 million and its sixth global growth stage fund at $1.75 The latter fund is in addition, and designed to complement, a previously unannounced $2.3
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. It has been a life-changing round.
But the market in LatAm has shifted in recent years, and with increased digital adoption, more people are opening their minds to using credit cards for payments. The startup, which offers credit cards to underserved populations in Mexico, told TechCrunch it has raised an additional $50 million in equity at a $1.2 Enter Stori.
billion after securing $186 million in Series E funding, led by Wellington Management. Its technology enables small merchants to gain market share across the country through a SaaS licensing model to small brick and mortar businesses. Goldman Sachs leads $23M in funding for Brazilian e-commerce startup Olist.
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.
This is a huge market, but no one is really focused on pure business-to-business,” de Camino told TechCrunch. Businesses of means have access to bank funds, but around 95% of small and medium businesses are unattended. We also want to win Mexico.”. Latin America’s second wave of digital transformation.
Miferia , a Mexico-based business-to-business wholesale marketplace, bagged $7 million in seed funding to continue developing its curated website connecting independent retailers in Mexico with domestic brands in categories like cosmetics, food and beverage and home décor. That’s where Miferia, founded this year, comes in.
InstaCarro , a digital marketplace that connects used car sellers to dealers in Brazil, has raised $23 million in a Series B round of funding. InstaCarro raises $22 million to tackle Brazil’s $50 billion used-car market. We see digital car dealerships finding success in markets across the world, from the U.S. Notably, U.S.-based
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. With its new capital, Mudafy’s immediate priority is to expand to more cities in Mexico, a market it entered in 2020. he wrote via email.
Kueski , a Mexico City-based “buy now, pay later” and online consumer lender, announced today it has secured $202 million in equity and debt funding. He was motivated after he, his friends and family experienced difficulty in getting access “and how terrible the user experience was in accessing financial services in Mexico.”.
Just over five months after securing $50 million in debt & equity , Valoreo has closed on a $30 million Series A funding round. Mexico City-based Valoreo aims to invest in, operate and scale e-commerce brands as part of its self-described mission “to bring better products at more affordable prices” to the Latin American consumer.
Hydrosat , a geospatial data startup, has secured $10 million in seed funding to accelerate the commercialization of its ground temperature analytics product. The decision to seek funding so soon after closing a $5 million round of financing in June was “opportunity-driven,” Fossel said. “We Airforce and the Department of Defense.
This morning Clara , a corporate spend-management startup focused on the Latin American market, announced its product launch and a $3.5 The company’s funding caught TechCrunch’s eye as there has been a flurry of funding for related companies serving the United States market. What sort of tweaking was needed?
The Mexico City-based B2B software and payments company provides three products, VendorPlace , P-Card and PorCobrar , for managing cash flow, optimizing access to smart liquidity, and connecting small, midsize and large businesses to an ecosystem of digital tools. Today, the company announced the close of a $20.4
Manuel Rodriguez Dao, co-founder and CEO of Mexico City-based Meru.com , and co-founder Federico Moscato, learned this the hard way when they were sourcing goods for another company and faced problems, among them getting the items that were originally offered. Today, the company announced $15 million in Series A funding.
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