Dealflow LatAm #1: Welcome!
#1 edition of the Dealflow LatAm newsletter: Habi raised $30m. Rappi's path to IPO. El Salvador welcomes Google.
Welcome to Dealflow LatAm!
Dealflow LatAm is the best way to follow the LatAm startup and VC ecosystem.
If by any chance you’ve known about Dealflow Spain, you know what to expect. But just in case you never knew about me or about Dealflow ES, here’s what you can expect from me: a manually-curated weekly email with the week’s most relevant articles, delivered to your inbox every Monday morning in one single and easy-to-read email.
I’ve been doing Dealflow Spain for more than 9 years and, for quite a while, toying with the idea of launching a new market or ecosystem. I feel like now the time is right.
If you have any feedback, please reply to this email or reach out at jaime@dealflow.es
Muito obrigado! Gracias!
My name is Jaime Novoa and I’m a partner at Kfund. I spend the vast majority of my time investing in early stage startups as part of Kfund. We make investments of €100k to €15m in Southern Europe and LatAm. If you want to chat, drop me an email at jaime@kfund.vc
This is a free newsletter supported by sponsors. If you’re interested in sponsorship opportunities, drop me an email at jaime@dealflow.es
This week’s newsletter is sponsored by Kosmo:
You run a fleet of drivers and you’ve scaled your business. Your excel sheets and Whatsapp are too manual. You’ve tried multiple solutions but nothing seems to make it easy to manage delivery.
Kosmo solves that. We provide the same technology that Amazon or Uber use to manage their last mile. We automate your delivery process with AI and smart workflows.
Cubbo was one of those businesses until they moved to Kosmo. With a fleet of over 100 drivers in Mexico, they needed a platform to help them streamline delivery. Kosmo provides them with:
Route optimization engine that improves efficiency up to 30%
Automated real time updates to clients via sms, Whatsapp or e-mail
Driver location tracking and accurate ETAs
Driver app for both iOS and Android
We've crafted all of this with a developer-centric mindset. Our easy-to-use apis allow you to connect your systems in 4 hours.
Click here to book a call with JJ Velaz, Founder & CEO of Kosmo.
Startup funding news 💸
🇲🇽 BBVA Spark doubled its financing commitment to Tuhabi to $48m: BBVA Spark significantly increased its financial backing of Tuhabi, a Mexican real estate startup, by doubling its commitment to $48m.
🇨🇴 Habi raised $30m for expansion in Latin America: Colombian real estate platform Habi raises $30m to expand its services across Latin America, enhancing property buying and selling processes
🇨🇱 Toku raised $9.3M Series A for payment solutions in Mexico: Chilean startup Toku raises $9.3 million in Series A funding to improve recurring payment collections, aiming to streamline financial operations for businesses
🇧🇷 Turbi raised $8.5 million in a round led by Domo VC: Turbi, a Brazilian car-sharing startup, successfully raised $8.5 million in a funding round led by Domo VC.
🇧🇷 BrandLovers raised $6.6m, led by Kaszek: Brazilian marketing startup BrandLovers raised $6.6m in a round led by Kaszek, aiming to expand its innovative digital marketing solutions
🇪🇨 Kamina raised $3.2m in Ecuador's largest pre-seed round: Ecuadorian healthtech startup Kamina secures $3.2 million, marking the largest pre-seed funding in the country's history, to advance healthcare solutions
🇨🇴 Colombian fintech Onepay raised $1.3m: Onepay secured $1.3m to enhance its payment integration services on WhatsApp, aiming to streamline transaction processes for users in Colombia
🇲🇽 Dapta raised $1.2m for no-code AI and API solutions: Mexican startup Dapta raises $1.2m to provide no-code AI and API integration solutions, aimed at simplifying technology adoption for SMBs
🇨🇴 Creze's raised $750k in pre-seed round: Colombian AI startup Creze secures $750,000 to develop no-code AI and API integration solutions tailored for SMBs, enhancing their technological capabilities
🇦🇷 Mendoza-based Rentennials eyes expansion with $250k funding: Argentine startup Rentennials raises $250,000k to fuel its expansion plans, focusing on the rental market to meet the growing demand for accessible housing options
M&A news 🚀
🇺🇾 Lolocar acquired Olacar and expanded car rental services to Uruguay: Lolocar, a prominent car rental service, successfully acquired Olacar, a move that facilitated its expansion into Uruguay
Investor & accelerator news 🚀
🇦🇷 Hernan Kazah discussed the impact of 'tourist capital' in Latin America: Hernan Kazah, co-founder of Kaszek, commented on the phenomenon of 'tourist capital' in Latin America. He noted that when the regional market conditions changed, many foreign investors who had been briefly enthusiastic about startup opportunities quickly exited
🇧🇷 Angel investment platform Investidores.vc raised $483K from 114 investors, including executives from Suno and G4 Educação
Startup news 💡
🇨🇴 Rappi prepares for IPO, appoints new CFO: Rappi, aiming for an IPO, strengthens its executive team by appointing Tiago Azevedo as the new global CFO. Also, the last mile logistics company introduces a rapid food delivery service in Colombia, promising deliveries within 10 minutes to compete directly with iFood
🇧🇷 Facily faces a serious risk of shutdown: Despite securing more than $500m in funding, the Brazilian e-commerce startup Facily is now at a serious risk of closing down
🇪🇸 Cabify Logistics doubled results in 2023: Cabify Logistics significantly boosted its operations across Latin America in 2023, doubling its results due to efficient logistics solutions and expanded service coverage
🇧🇷 PicPay introduces card machines for entrepreneurs: Brazilian fintech PicPay launches new card machines targeting entrepreneurs, aiming to facilitate smoother transactions and expand its market reach. The company reported a 2023 profit of $7m, its first since inception
🇧🇷 iCasei earns over $6.3m million from wedding services hub: iCasei capitalizes on its comprehensive wedding services hub, generating significant revenue by catering to various wedding-related needs.
🇲🇽 Jack Dorsey’s TBD expands with global SDKs for TBDex: TBD launches global software development kits for its TBDex platform, aiming to broaden its financial technology solutions across Latin America.
🇦🇷 Tiendanube expands to Chile: ecommerce platform Tiendanube enters the Chilean market
🇨🇴 Wekall plans expansion amid AI boom: Colombian startup Wekall is set to capitalize on the global boom by integrating AI to enhance its business communication solutions
🇲🇽 Balety and Romio launch carsharing startup: Balety and Romio team up to introduce a new carsharing service, designed to offer sustainable and flexible transportation alternatives to urban residents
🇲🇽 Konfio seeks banking license: Mexican fintech Konfio pursues a banking license to enhance its credit services for small and medium enterprises, aiming to fill the financing gap in the SME sector
🇨🇴 Dale aims for 4 million users, targets youth: Fintech startup Dale seeks to expand its user base to 4 million by allowing youths over 12 to open accounts
🇧🇷 Conta Simples overhauls corporate expense management: Conta Simples launches a new platform to revolutionize corporate expense management, offering enhanced tools for financial tracking and analysis.
🇧🇷 Sqala enhances payment solutions for betting sites: Brazilian payment gateway Sqala continues to grow as a crucial bridge for betting site transactions
🇧🇷 Mombak offers carbon credit solutions to counter AI's impact: A Brazilian startup develops a carbon credit system aimed at mitigating the environmental impact of AI technologies, aligning tech advancement with sustainability.
🇦🇷 Profile of Loybox: Argentine startup Loybox enables businesses to easily implement their own loyalty points systems, streamlining customer engagement and retention strategies
🇦🇷 Profile of Fanbase: An Argentine startup has developed a platform that enables users to monetize their social media presence on platforms like TikTok and Instagram
Big company & policy news 💡
🇦🇷 Mercado Libre confirmed an investment of $4.6b in Brazil: Mercado Livre announced a massive investment in Brazil, along with plans to create 65,000 jobs. This investment was focused on expanding its operations and infrastructure to better serve its growing customer base in the country
🇧🇷 Nubank to invest +$150m million to test credit products in Mexico: Nubank to invest a significant amount to pilot new credit products in Mexico, aiming to broaden its financial offerings and enhance its competitiveness in the LatAm financial sector
🇧🇷 Nubank to launch mobile network in collaboration with Claro: Nubank announces a partnership with Claro to launch a mobile operator in Brazil, diversifying its services into telecommunications
🇸🇻 Google officially arrived in El Salvador: The tech giant opened its doors in El Salvador, marking its official entry into the country. More info here
🇬🇧 Revolut plans to invest over $100m in Mexico: This substantial investment was targeted at expanding its financial services in the region and capturing a significant share of the Mexican market
🇧🇷 Brazil can still be sovereign in AI, says Nvidia's director in Latin America: The director of Nvidia in Latin America expressed confidence in Brazil's potential to maintain sovereignty in the field of AI, highlighting the country's ongoing initiatives and investments in AI technology
Buena iniciativa Jaime!