Deals ▸ General Atlantic led a USD200m Series B round for QI Tech, a Brazilian API-based credit issuance platform, with follow-on from US-based growth investor Across Capital. QI Tech acquired Builders Bank, a Brazilian banking application developer, in June 2023. GIC led a USD50m Series A in November 2021. QI Tech was the first Direct Credit Company (Sociedade de Credito Direto) approved by the Brazilian Central Bank. QI Tech has been profitable since launch, according to TechCrunch. This is the largest round raised by a Brazilian startup so far in 2023, according to LAVCA Data. ▸ US-based VC Morpheus Ventures led a USD40m Series C for Mexican challenger bank albo, with follow-on from NAZCA and Valar Ventures. albo just acquired delt.ai, a Mexico-based financial services platform for SMEs. albo raised a USD45m Series B in November 2020 and a USD7.4m Series A in January 2019. ▸ Valor Capital Groupled a USD30m Series C for Gringo, a Brazilian car documentation management platform with follow-on from KASZEK, ONEVC, Vostok Emerging Finance, ICU Ventures and Actyus. Gringo raised a ~USD38m Series B led by Vostok Emerging Finance in March 2022 and a USD8m round led by KASZEK in November 2021. ▸ SECURITY | Forgepoint Capital led a USD30m Series B for Lumu Technologies, a Colombian cybersecurity platform focused on data protection, with follow-on from BIP Ventures, Exceptional Capital and Simma Capital. US-based Panoramic Ventures led a USD8m round in August 2022. Lumu was founded by Colombian Ricardo Villadiego. ▸ QED Investors led a USD20m round for Finkargo, a Colombia-based import financing platform, with participation from NAZCA, and follow-on from Quona Capital, ONEVC, Flybridge and MAYA Capital. Finkargo secured a USD75m structured credit line from Community Investment Management in November 2022; Quona Capital and MAYA Capital led a USD7.5m seed round in April of that same year. ▸ Valor Capital Group led a USD20m Series B for Nexu, a Mexican car financing platform. Nexu raised a USD50m Series A in January 2022. ▸ CLEANTECH | KASZEK led a USD16.5m round for Bia, a Colombian real-time energy consumption analytics platform for SMEs, with participation from Ewa Capital, WildSur, and follow-on from NAZCA. Canary led a USD6m pre-seed round in July 2022. ▸ US-based VC Haymaker Ventures led a USD15m Series A+ for Mundi, a Mexican lending platform financing imports/exports for SMEs, with participation from FJ Labs, Upper90, GMO Ventures, Colibri Ventures, Asymmetric Capital Partners, Mana Ventures, and follow-on from USV and Base10. USV led a USD16m Series A in February 2022; Base10 led a USD7.8m round in February 2021. DEBT |Mundi secured a USD100m debt facility from SVB in December 2021; Base10 Partners led a USD7.8m round in February 2021. ▸ KASZEK led a USD13m round for Cobre, a Colombian corporate treasury management platform. QED Investors and Atlantico led a USD14m Series A round in February 2022. ▸ MINING | Kayyak Ventures led a USD10m round for TIMining, a Chilean intelligent mining platform, with participation from LarrainVial and the Luksic FO, and follow-on from Aurus Capital. Aurus Capital and ChileGlobal Ventures invested USD3.8m in March 2020. ▸ CapSur led a USD10m round for The Coffee, a Brazilian self-serve coffee brand. monashees led a USD7.5m round in January and a ~USD5.6m Series A in December 2020. ▸ CROSSBORDER | Hypra invested USD10m in Trinetix, a Ukrainian B2B digital product manager to expand to Latin America. ▸ SRM Ventures invested ~USD9min Parcela Mais, a Brazilian financial services for healthcare platform. ▸ EDTECH | Rise Ventures led a ~USD8m round for Alicerce Educação, a Brazilian network of education centers to supplement students in the public school system living in city peripheries. Alicerce Educação raised a USD5m seed extension in May 2021; Wayra Hispam invested in 2020; Canary and Valor led a ~USD5m seed round in 2019.
➡️ READ LAVCA’s Deal Case Highlight on Canary’s investment in the company in 2020. ▸ SRM Ventures invested ~USD7.7m in Drip, a Brazil-based Pix payment solution. YC invested 500k in September 2022. ▸ NY-based early stage VC Third Prime led a USD6.5m round for Finnerio, a Mexican API provider for enterprise account management, with participation Alaya Capital, Visa, Bancolombia Ventures, Plug and Play, Winklevoss Capital and Krealo, the CVC arm of Credicorp. G2 Momentum Capital invested in June 2020. ▸ Divilo, a Spain-based financial services platform, raised a USD6.3m round to expand throughout Europe and into Latin America. ▸ DEBT | Sempli, a Colombian lending platform for SMEs, raised a USD6m debt round from Citi. CAF and Confama led an undisclosed round in March 2022; Sempli raised USD10m in October 2021 and USD8m in 2019. ▸ PROPTECH | EXT Capital invested ~USD5.8m in CondoConta, a Brazilian banking platform for condominium management. Igah Ventures invested ~USD2m in November 2021; Redpoint eventures led a ~USD1.3m seed round in March 2021. ▸ WOMEN-LED | Yara Growth Ventures led a USD4pm pre-Series A for Verqor, a Mexican lending and wholesale marketplace for rural producers, with participation from Accion Venture Lab and GLOCAL, and follow-on from SP Ventures and Amplifica Capital. Verqor also secured USD3.5m in debt from Addem Capital. SP Ventures led a USD2.5m round for Verqor in June 2022.
Verqor was co-founded by Valentina Rogacheva. ▸ WOMEN-LED | Cencosud Ventures led a USD4m round for Vopero, an Uruguay-based clothing resale marketplace, with follow-on from Mexican retail holding Grupo Axo. Vopero raised a USD7.5m round from Grupo Axo and ThredUP in October 2021. Vopero was co-founded by Maggie Ferber. ▸ Screen One invested in USD3.5m Series A for Neverend Entertainment, a Chilean audiovisual production and distribution company. ▸ CRYPTO | Galapagos Capital led a ~USD2.5m round for Liqi, a Brazilian tokenization platform for corporates, with follow-on from Kinea Ventures and Honey Island. Liqi raised ~USD5.5m in January 2022. ▸ NY-based VC 2048 Ventures led a USD2m round for Wareclouds, a Chilean ecommerce fulfillment platform, with follow-on from ChileGlobal Ventures. ChileGlobal Ventures led a USD1.2m seed round in October 2022. ▸ CVC | Btomorrow Ventures, the CVC arm of British American Tobacco, made an undisclosed investment at a ~USD25 pre-money valuation in Mais Mu, a Brazilian D2C healthy snack and supplements brand. ▸ ABSeed led a ~USD2m round for Vaas, a Brazilian financial fraud detection startup, with participation from Fuse Capital and Honey Island Capital. ▸ DEBT | Laqus (formerly Mark 2 Market) raised ~USD2m in venture debt from Namari Capital. ▸ CVC | MSW Capital, the CVC arm of Banco do Brasil, led a USD1.9m round for Tidewise, a Brazilian robotics manufacturer and marine site mapping platform for the naval industry, with participation from Embraer, BB Seguros, Baterias Moura and AgeRio. ▸ Brazilian stock exchange B3 invested USD1.9m in MBOCHIP, a Brazilian low-latency programmable chip manufacturer for financial market algorithms. ▸ PROPTECH | RBS Ventures, the CVC arm of Brazilian media group RBS, invested ~USD1.8m in equity and media in the merger of VPort and Maguen, two Brazilian virtual concierge systems for condominiums. ▸ IoT | Monuv, a Brazilian computer vision platform for security camera networks, raised a ~USD1.7m bridge round from Indicator Capital and Invest Tech. Indicator Capital invested ~USD800k in June 2023 through its ~USD48m IoT-dedicated fund. ▸ HEALTHTECH | Valor Capital Group led a ~USD1.6m pre-seed round for Sanii, a Brazil-based cognitive health startup, with participation from GreenRock and Norte Ventures. ▸ AGTECH | SiloReal, an Argentine traceability startup for grain and crops, raised a USD1.5m round from undisclosed investors. ▸ Astella Investimentos led a USD1.2m pre-seed round for Purple Metrics, a Brazilian branding measurement software, with participation from Raio Capital and 040 Ventures. ▸ Terracotta Ventures and ABSeed led a ~USD1.2m seed round for Arqgen, a Brazilian AI-based architecture modeling software, with participation from BR Angels and Smart Money Ventures. ▸ Teker, a Colombian platform for accessing healthcare specialists, raised a USD1m pre-seed round. ▸ Invexor led a USD750k round for Edipro, a Chile-based condominium management platform. Chilean accelerator Magical invested USD125k in November 2022 ▸ HRTECH | Smart Money Ventures led a ~USD700k seed round for Bondy, a Brazilian human resources automation platform, with participation from Investidores.vc and Incubate Fund. ▸ CRYPTO | BRLA Digital, a Brazilian crypto payments platform, raised a ~USD600k round from Philippines-based crypto exchange Coins and angel Rodrigo Benez (SimpliPay). ▸ EDTECH | Fundo Amazônia Ventures invested ~USD300k in Esporte Educa, a Brazilian education platform for full-time athletes. ▸ Kontigo, a Peruvian digital wallet service, raised USD200k from Founders Inc. and Buildspace. ▸ CLEANTECH | Irani Ventures invested ~USD180k in Mush, a Brazilian biodegradable products startup. ▸ HEALTHTECH | Zenit, a Brazilian healthcare content platform, raised ~USD260k from Oikos, Spalla Partners and crowdfunding platform Captable. ▸ Ventiur invested ~USD100k in Payer, a Brazilian payments platform. ▸ Raio Capital invested in Doji, a UK-based e-commerce marketplace for second-hand products. Canary led a ~USD3m seed round in June 2021. Doji was founded by Brazilian Fernando Montera Filho. ▸ DEBT | R5, a Colombian credit provider and financial education platform focused on the underbanked, raised an undisclosed debt round from Lendable. GFC led a USD7m round for R5 in May 2022; Accion invested in April 2020. ▸ Colektia, a Chile-based enterprise debt collection platform, raised an undisclosed equity and debt round from undisclosed funds. Angel Ventures and NAZCA led a USD4.2m Series A in February 2021. ▸ HRTECH | Google for Startups invested in Vixting, a Brazilian employee medical treatment platform for work-related health concerns. ▸ Ventiur Smart Capital invested ~USD58k in ESG Now, a Brazilian sustainability indicator management platform. ▸ AGTECH | Good Karma Partners invested in Rumin8, an Australian bovine food supplement company to expand into Brazil. ▸ BIOTECH | Eurofarma Ventures invested in Gen-t Science, a Brazilian gene bank startup. ▸ Amarena and golfer Joaquín Niemann invested in Zapping, a Chile-based media and entertainment platform. ▸ Grupo Escocia invested in Rideshop.cl, a Chile-based online marketplace for outdoor sports. ▸ ANGEL | Ábaco Capital, a Salvadoran fintech, raised a USD500k pre-seed round from angel investors. ▸ ANGEL | Patrimore, a Chilean personal finance management platform, raised USD400k from angels including Francisco Ackermann (Finup) and Matías Spagui (MercadoPago), among others. | 