Dealflow LatAm #38: Xepelin raises $54M. Agibank secures $370M via FIDC. BTG Pactual acquires Justa.
Welcome to the 38th edition of the Dealflow LatAm newsletter: a weekly summary of everything that happened in the LatAm startup and investment ecosystem.
Hey, it’s Yoel 👋 Back again with the 38th edition of Dealflow LatAm—your go-to source for all the deals, moves, and momentum in the region’s startup scene.
This week was relatively quiet by recent LatAm standards, but momentum hasn't stalled. 🇧🇷 Brazil led the charge, with major moves in funding, M&A, and ecosystem development. While there were fewer big-ticket rounds, we still saw important activity in 🇲🇽 Mexico and 🇨🇱 Chile, especially around AI and fintech. The pace may have slowed, but the region is steadily moving forward.
Plenty to break down—so let’s get into it 🚀
Startup funding news 💸
Rounds of $10M+:
🇧🇷 Agibank raises $370M via its first FIDC to expand credit operations through 2030. The issuance, backed by payroll-deductible loans, was oversubscribed and attracted 20 institutional investors.
🇲🇽 Xepelin secures $54M from BBVA Spark to expand its AI-powered financial platform for SMEs in Mexico. The funds will support credit access and digital finance tools for over 50,000 businesses.
🇧🇷 Meliuz raises $32.4M in a share offering to buy bitcoin, positioning itself as Brazil’s first bitcoin treasury company.
Rounds $1M to $10M:
🇧🇷 Frente raises $5.5M in a Series A round to expand its international Pix-based payment service. The round was led by Magma Partners, marking its first fintech investment in Brazil.
🇲🇽 Lounn raises $1M in a pre-seed round to automate SME credit with AI. The round was led by Kolab Ventures and Highline Beta, and will fund tech development and credit process automation.
Other rounds of funding:
🇧🇷 Nekt raises $900K to expand its AI data platform. The round was led by Alexia Ventures, with founders of RD Station, Trybe, and others participating.
🇧🇷 clickCompliance receives $300K from Cemig to build an AI-based whistleblower channel and modernize its digital compliance platform.
🇦🇷 Talentum raises $250K to scale its AI recruiting platform "Sara". The round was led by Allygatr, with participation from First Check Ventures.
M&A transactions 🎊
🇧🇷 BTG Pactual acquires Justa to expand its SME payment solutions. The deal strengthens BTG’s fintech portfolio and supports its international strategy, leveraging Justa’s digital payment tech.
🇧🇷 Afinz acquires D3 Pagamentos to expand its SME services. The deal strengthens its integrated fintech platform under the new "Afinz Empresas" unit.
🇺🇸🤝🇧🇷 Warburg Pincus increases its stake in Contabilizei to 36.4% by acquiring shares from IFC and Quadrant. The U.S. fund remains the startup’s largest shareholder, ahead of SoftBank.
🇺🇸🤝🇨🇱 Exagon Impact Capital acquires SunRoof to boost C&I solar in Mexico. The deal adds to Exagon’s LatAm renewables portfolio, leveraging SunRoof’s AI cleaning tech.
Investor & accelerator news 🚀
🇧🇷 Axcell and Idesam launch a $4.5M fund to invest in up to 10 bioeconomy startups in the Amazon, with checks ranging from $180K to $1.8M.
🇧🇷 Pátria Investimentos raises $18M for its Reforest Fund to support reforestation and asset development, with participation from Vélez and Bracher.
🇧🇷 Greener and Iriun launch Noris, a JV focused on M&As of solar plants in Brazil, aiming to boost consolidation in the distributed generation sector.
🇧🇷 Sebrae-SP announces $45M plan through 2029 to support AI startups and emerging hubs after GSER 2025 recognition.
🇧🇷 RV (ex-Randon Ventures) eyes two new investments in 2025 after exits from Money Money (acquired by Fiserv) and Delta Global. The CVC also expands with its own startup acceleration program.
🇨🇱 Centro Tecnológico de Economía Circular gets $1.75M from Gobierno Regional and Corfo to boost sustainable innovation in Los Lagos.
🇨🇱 Quintil Lab Viña launches with a $500K fund to accelerate sustainable mining startups in LatAm. The program is backed by Quintil Valley and Distrito V21.
Opportunities & Deadlines 👀
🇵🇾 Paraguay Tech Week 2025 will gather startups, VCs, and fintechs in Asunción from June 17 to 19.
🇨🇱 Instituto 3IE and HENUA TECHNOLOGIES launch a free program to help startups scale with sustainability; applications open until June 18.
🇨🇱 ProChile and Corfo launch GoGlobal 2025 to help 50 startups expand abroad; applications open until June 18.
🇨🇱 Transelec Ventures opens a new call for startups to co-develop solutions in market intelligence and operational risk modeling. Deadline: June 23, 2025.
🇺🇸🌎 AWS opens applications for the Generative AI Accelerator 2025 to support 5 LatAm startups; deadline is July 10.
🇲🇽 Bitso launches Hackathon MXNB with up to ~$7K for DeFi/payment projects using MXNB. Backed by Arbitrum, QED, Portal. Deadline: July 14.
🇧🇷 South Summit announces its Climate & Bioeconomy edition in Belém, set for July 15–16, with a focus on innovation, sustainability, and COP30.
🇲🇽 Daikin launches AirTech Challenge 2025 for HVAC startups. Winners pitch in Monterrey and win a trip to Japan. Deadline: July 31, 2025.
🇲🇽 VTEX CONNECT LATAM 2025 returns to Mexico on September 25 to unite digital commerce leaders for networking and innovation.
🇨🇱 Transbank and ChileConverge launch a new SME support cycle with free workshops and digital tools running through November 2025.
🇨🇱 NTT DATA Chile opens eAwards 2025 for tech startups creating positive impact. Applications open until end of 2025.
Startup news 💡
🇦🇷 Argentina
🇦🇷 Ab Astra joins Neuquén’s tech hub as its first startup, using cosmic rays for subsurface imaging. Backed by CITES.
🇦🇷🤝🇺🇸 Clúster Agtech Córdoba partners with The Yield Lab, BioSTL, and WTC St. Louis to boost agtech innovation and startup growth.
🇧🇷 Brazil
🇧🇷 Creditares launches $20M FIDC to scale agricultural credit for small producers in Brazil through its SaaS platform and agrobankers network.
🇧🇷 CAF expands to the U.S., U.K., and Uruguay and launches VerifAI Docs, an AI tool to detect fraud in unstructured documents with over 500 methods.
🇧🇷 Koin partners with Zoop to launch integrated B2B antifraud and payment gateway solutions, enhancing e-commerce security and conversion.
🇧🇷 Softplan splits public/private ops, launching Starian to serve private-sector clients while Softplan focuses solely on public contracts.
🇧🇷 Plaza invests $370K to launch Maya ADM, an AI tool automating up to 90% of rental support via voice and WhatsApp to boost efficiency.
🇧🇷 Éder Medeiros, founder of Maker Market, invests $180K to launch a platform connecting 3D designers, printer owners, and e-commerce sellers in Brazil.
🇧🇷 Nuvemshop invests $10M in Nuvem Chat, an AI-powered WhatsApp tool to automate customer service and boost e-commerce conversions across LatAm.
🇧🇷 Rare earth startups seek $1B from BNDES and Finep to scale projects and position Brazil as a China alternative in the sector.
🇧🇷🤝🇺🇸 Matera partners with Circle to let Brazilian banks manage USDC and multi-currency payments without intermediaries.
🇨🇱 Chile
🇨🇱 Fintoc appoints Ignacio Fernández as Country Manager for Chile to drive its Openfinance growth and navigate the emerging fintech landscape.
🇨🇱 Creditú, Comunidad Feliz, and Huella Estructural win at PropTech Latam Awards 2025 for innovation in fintech, property tech, and construction.
🇨🇱 Melissa Muñoz launches AutistApp, a free tool offering organizational and emotional support for autistic individuals.
🇨🇴 Yuno expands into Chile, serving clients like McDonald’s, Rappi, and ComparaOnline with over 1,000 integrated payment methods.
🇨🇴 Colombia
🇨🇴 Sempli and Liquitech financed 420 SMEs with $21.7M through factoring. The Colombian fintechs aim to reach $38M in originations by late 2025.
🇨🇴 Payana and Alegra partner to bring AI to SME accounting in Colombia, boosting speed and reducing errors in financial operations.
🇨🇴 Wingo boosts digital payments across LatAm by partnering with Yuno, raising approval rates by 14% with Smart Routing tech.
🇨🇴 Yuno selects London as its European HQ to boost global expansion and support clients across Europe.
🇵🇷 Evertec integrates Google Pay across LatAm and will launch instant payments button in Colombia by September 2025.
🇨🇦 Nuvei sets up Colombia as its LatAm hub to expand operations and boost digital payments with local talent and direct acquiring.
🇲🇽 Mexico
🇲🇽 Covalto, a fintech that acquired a bank, invests $71M in tech to scale SME financing and sustain double-digit growth through 2030.
🇺🇸🤝🇲🇽 Helium partners with Movistar Mexico and AT&T to expand mobile coverage using its decentralized hotspot network.
🇵🇪 Peru
🇵🇪 Chazki targets 190 cities in LatAm by 2028 after 45% YoY growth and strong expansion in Argentina and Mexico.
🇨🇱 Viper launches in Peru with its emergency dispatch tech, partnering with a major health insurer to manage 15+ prehospital units.
🇺🇸 inDrive Money launches in Peru to offer cash loans for drivers. The service is provided in partnership with R2, aiming to improve financial inclusion.
🇺🇾 Uruguay
🇺🇾🤝🇮🇳 dLocal partners with Juspay to enhance cross-border payments with localized solutions across Africa, Asia, and LatAm.
🌎 Other LatAm News
🇨🇴🌎 Minteo expands stablecoin COPM across LatAm to streamline B2B payments, tripling clients in Colombia and targeting five new markets.
🇨🇴🇸🇻🇬🇹 Nequi expands to El Salvador and Guatemala to boost financial inclusion, starting with 100K-user goal via Bancoagrícola.
🇵🇦 Kuara adds Banistmo, expanding its real-time interbank payment network to 900,000+ clients and boosting Panama’s digital finance transformation.
Big company & policy news 💡
🇦🇷 The Anti-Corruption Office cleared President Javier Milei of any wrongdoing in promoting the crypto project $LIBRA, ruling it was a personal action with no public resources or policy involvement.
🇧🇷 Brazil will tax crypto profits at 17.5% and raise the betting tax to 18% under a new fiscal bill. The measure aims to curb public revenue losses by tightening rules on digital assets and online gambling.
🇨🇱 Bancada por la Innovación unveils roadmap to modernize Chile’s startup ecosystem. The agenda, backed by 24 deputies, aims to boost tech entrepreneurship through legislative reforms.
Interesting reads 💡
🌎 Contxto published “How generative AI tools can help overcome language barriers”, highlighting how platforms like Buddy.AI are using voice-recognition and avatars to help children in LatAm improve their English skills and overcome educational inequality.