Mime-Version: 1.0 Content-Type: multipart/alternative; boundary="573656273a9d8d7167fc8e96de5e8a3ca5df29e9fae58bd56e9305d83f31" Subject: =?UTF-8?q?Dealflow_LatAm_#65:_Xepelin_raises_$20M._Visma_acquires_Comunid?= =?UTF-8?q?adFeliz_for_$70M._PicPay_files_for_Nasdaq_IPO_with_=E2=80=A6?= From: Yoel Rodriguez of Dealflow LatAm To: Hidden Recipient Date: Mon, 12 Jan 2026 12:02:39 +0000 X-Hiring: We are hiring, reach out at header-hacker@emailshot.io X-EmailShot-Signature: 7vVOCsExSP9q7C5QxRsS9B9yApn2vIl_Pa4j8hfLBx4dREVvB0TvsLwpvPgwiLegwYPSSeL1W6GsEEfs99Du8g== --573656273a9d8d7167fc8e96de5e8a3ca5df29e9fae58bd56e9305d83f31 Content-Type: text/plain; charset="utf-8" Content-Transfer-Encoding: quoted-printable View this post on the web at https://dealflowlatam.substack.com/p/dealflow-= latam-65-xepelin-raises Hey, it=E2=80=99s Yoel [ https://substack.com/redirect/907539e5-18b4-4413-9= 642-e1a492ad3021?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m0r= bAsF0l24U ] =F0=9F=91=8B Back again with the 65th edition of Dealflow LatAm= : your go-to source for all the deals, moves, and momentum in the region=E2= =80=99s startup scene. Wishing everyone a Happy New Year and thank you for = joining us for our very first edition of 2026! Plenty to break down=E2=80=94so let=E2=80=99s get into it =F0=9F=9A=80 =F0=9F=91=89=F0=9F=8F=BC If you=E2=80=99re interested in sponsorship opport= unities, please reach out to yoel@dealflow.es Startup funding news=C2=A0=F0=9F=92=B8 Rounds of $10M+: =F0=9F=87=A7=F0=9F=87=B7 UY3 raises [ https://substack.com/redirect/85ced08= 6-a1b7-4951-924b-628e46834983?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jn= N48_jCfgM3m0rbAsF0l24U ] $37.2M from Vinci Compass to fund subordinated FID= C quotas and scale its credit infrastructure for fintech partners. =F0=9F=87=A7=F0=9F=87=B7 Frete.com raises [ https://substack.com/redirect/0= e43a280-9a34-47e0-aa9a-babfb87c05e5?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP8= 22j-jnN48_jCfgM3m0rbAsF0l24U ] $28M via FIDC with XP to expand credit for t= ransporters. BTG Pactual and Pol=C3=ADgono Capital also participated. =F0=9F=87=A8=F0=9F=87=B1 Xepelin raises [ https://substack.com/redirect/731= 85741-4496-4942-8e5f-a5e2ea079588?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822= j-jnN48_jCfgM3m0rbAsF0l24U ] $20M in a bridge round led by Nazca Ventures t= o expand in Mexico amid a 40% valuation drop. =F0=9F=87=A7=F0=9F=87=B7 Elyx to raise [ https://substack.com/redirect/5fea= 74cf-983b-4e7e-a482-48be85d40c3c?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j= -jnN48_jCfgM3m0rbAsF0l24U ] $18.3M to build vertiports for eVTOLs in Brazil= =2E The round is structured by Arton= Advisors and targets 6=E2=80=937 units i= n major cities. Rounds $1M to $10M: =F0=9F=87=BA=F0=9F=87=BE Horizon AI raises [ https://substack.com/redirect/= 0f336cea-3a89-4d00-8e6e-4fb8c3c8ce1b?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP= 822j-jnN48_jCfgM3m0rbAsF0l24U ] $3.5M in a seed round led by NXTP to expand= its enterprise AI platform across LatAm and prepare for U.S. entry. =F0=9F=87=A8=F0=9F=87=B1 Enerlink raises [ https://substack.com/redirect/42= c26b30-2197-49c2-9f23-273b1c1d29fd?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP82= 2j-jnN48_jCfgM3m0rbAsF0l24U ] $3.1M to expand EV charging software across L= atAm, with new markets like Brazil in sight. =F0=9F=87=A7=F0=9F=87=B7 Gedanken raises [ https://substack.com/redirect/7d= 416183-1053-4f58-9962-4c391b812b53?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP82= 2j-jnN48_jCfgM3m0rbAsF0l24U ] $2.2M in a round led by Citrino Ventures to e= nhance AI features and scale its supplier onboarding and risk management pl= atform. =F0=9F=87=A8=F0=9F=87=B7 Snap Compliance raises [ https://substack.com/redi= rect/1b8a6e12-3900-4b98-b215-92f48f7a8d32?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObq= ArDfP822j-jnN48_jCfgM3m0rbAsF0l24U ] $2M to expand its AI-driven compliance= platform across LatAm.=20 Other rounds of funding: =F0=9F=87=A8=F0=9F=87=B1 EGenya raises [ https://substack.com/redirect/f0e2= 83bb-9672-492b-be4d-31f535abf913?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j= -jnN48_jCfgM3m0rbAsF0l24U ] $600K from Invexor to expand its workforce mana= gement platform across industries in Chile. =F0=9F=87=A8=F0=9F=87=B4 Galilea raises [ https://substack.com/redirect/e1e= 49732-321b-4ed3-88b5-dcc3af1810dc?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822= j-jnN48_jCfgM3m0rbAsF0l24U ] $500K from a Silicon Valley-backed U.S. fund t= o scale its digital lending platform. The round was supported by a fund lin= ked to Y Combinator. =F0=9F=87=A8=F0=9F=87=B4 Uptime Analytics receives [ https://substack.com/r= edirect/1c254e75-4a0d-485a-ad44-3c9f8c58a4f2?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uF= ObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U ] strategic investment from PX Ventur= es to expand its AI-driven industrial optimization platform across LatAm. M&A transactions =F0=9F=8E=8A =F0=9F=87=A7=F0=9F=87=B7 Bemobi acquires [ https://substack.com/redirect/81= 4459c6-c57f-4ef9-8e42-ee350137ede6?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP82= 2j-jnN48_jCfgM3m0rbAsF0l24U ] Celer from Grupo Casas Bahia for $1.62M to bo= ost its PaaS and payment solutions. =F0=9F=87=A8=F0=9F=87=B1 Acid Labs acquires [ https://substack.com/redirect= /832b0f48-903a-48c0-a89d-8e3563e90417?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDf= P822j-jnN48_jCfgM3m0rbAsF0l24U ] 2Brains, adding $10M in annual revenue and= 160 employees to boost its software services in Chile. =F0=9F=87=A8=F0=9F=87=B1 ComunidadFeliz is acquired [ https://substack.com/= redirect/124ed965-0be7-4a8a-b6b8-48134136c3e2?j=3DeyJ1IjoiM2dmeXZtIn0.xu76u= FObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U ] by Visma for $70M, marking a major= proptech exit in Chile and expanding Visma=E2=80=99s footprint in LatAm pr= operty management tech. Investor & accelerator news =F0=9F=9A=80 =F0=9F=87=A6=F0=9F=87=B7 Agencia C=C3=B3rdoba Innovar y Emprender proposes = [ https://substack.com/redirect/a25ad16a-4bf6-49a5-93ff-d12fbf0ec33d?j=3Dey= J1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U ] a $6.78M fu= nd to boost VC activity and attract startups across LatAm in 2026. =F0=9F=87=A7=F0=9F=87=B7 TQI and BR Angels launch [ https://substack.com/re= direct/58d6a6e3-f936-4230-9159-d66d1a304f55?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFO= bqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U ] a $910K fund for B2B startups modern= izing corporate systems, focusing on data-intensive sectors. =F0=9F=87=A7=F0=9F=87=B7 Bossa Invest enables [ https://substack.com/redire= ct/7138c7a0-732a-4027-82c3-75d0ff2e10cc?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqAr= DfP822j-jnN48_jCfgM3m0rbAsF0l24U ] $13.5M in liquidity from 135 exits, high= lighting Brazil=E2=80=99s evolving VC landscape focused on efficient, purpo= se-driven startups. =F0=9F=87=A7=F0=9F=87=B7 Cainvest, Liqi, and Foxbit launch [ https://substa= ck.com/redirect/b7596c65-63ee-4c2a-a45a-5a70b14495b6?j=3DeyJ1IjoiM2dmeXZtIn= 0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U ] Brazil=E2=80=99s first bond= token, enabling fractional investments in Pemex bonds from $1 via blockcha= in. =F0=9F=87=A7=F0=9F=87=B7 TQI launches [ https://substack.com/redirect/b4d2f= 53f-8c4d-4822-a5f8-63f1e2fd5d16?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-= jnN48_jCfgM3m0rbAsF0l24U ] VC fund with BR Angels, investing $186K=E2=80=93= $931K USD in B2B startups modernizing digital infrastructure in data-heavy = industries. =F0=9F=87=A8=F0=9F=87=B4 CESA, Rockstart LATAM, and ColCapital join forces = [ https://substack.com/redirect/4dcc4ec2-e584-47f4-9730-0bc86ceb3d9c?j=3Dey= J1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U ] to boost st= artup investment in Colombia through education, matchmaking, and access to = smart capital. =F0=9F=87=B2=F0=9F=87=BD=F0=9F=A4=9D=F0=9F=87=A8=F0=9F=87=B4 Startuplinks a= nd Cuantico VP commit [ https://substack.com/redirect/0b8e4bb8-dc6c-422e-a1= c2-9724b5516e4b?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rb= AsF0l24U ] $10M over 10 years to strengthen VC in LatAm through innovative = funding and media-for-equity models. =F0=9F=87=B5=F0=9F=87=AA JAKU Emprende UNSA forms [ https://substack.com/re= direct/6a310041-da45-4b00-9078-b421adcd7c0b?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFO= bqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U ] strategic alliance with UTEC Venture= s to boost impact-driven startups in Arequipa, supported by the Anglo Ameri= can Foundation. Opportunities & Deadlines =F0=9F=91=80 =F0=9F=87=A8=F0=9F=87=B1 Carozzi & Hubtec launch [ https://substack.com/red= irect/ec337edf-c441-4fbe-b521-9c96baf45eb6?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFOb= qArDfP822j-jnN48_jCfgM3m0rbAsF0l24U ] the 2026 Ingredientes del Ma=C3=B1ana= call to co-create foodtech solutions with researchers and startups; Apply = by Jan=E2=80=AF22. =F0=9F=87=B2=F0=9F=87=BD Impact Hub CDMX & Fomento Social Banamex open EMER= GENTE 2026 for creative ventures with social impact; up to $8k, apply by Ja= n=E2=80=AF31. =F0=9F=87=A7=F0=9F=87=B7 GITEX LATAM debuts [ https://substack.com/redirect= /71e28d4c-6e93-435a-8e6b-eb4812730b30?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDf= P822j-jnN48_jCfgM3m0rbAsF0l24U ] in SP on Mar=E2=80=AF16=E2=80=AF2027, brin= ging the world=E2=80=99s largest tech and innovation event to boost digital= transformation and global partnerships. =F0=9F=87=B2=F0=9F=87=BD Bitso Business confirms [ https://substack.com/red= irect/007e099f-e049-4a68-acd9-a8be5afc4135?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFOb= qArDfP822j-jnN48_jCfgM3m0rbAsF0l24U ] the Stablecoin Conference LatAm 2026,= gathering global leaders on stablecoin innovation in Mexico City; =F0=9F= =93=85 June=E2=80=AF15=E2=80=9316. Startup news =F0=9F=92=A1 =F0=9F=87=A6=F0=9F=87=B7 Argentina =F0=9F=87=A6=F0=9F=87=B7 Helipagos launches [ https://substack.com/redirect= /346de4b4-85db-48cd-a8d8-edc6f080adb9?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDf= P822j-jnN48_jCfgM3m0rbAsF0l24U ] Checkout V2, enhancing its digital payment= s platform with better UX, security, and scalability ahead of expanding int= o POS solutions. =F0=9F=87=A6=F0=9F=87=B7 Banco Comafi and 123Seguro partner [ https://subst= ack.com/redirect/06b61778-a9f6-4f3a-a3e4-a661a75de882?j=3DeyJ1IjoiM2dmeXZtI= n0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U ] to digitize auto insurance= sales, blending banking reach with insurtech agility. =F0=9F=87=A6=F0=9F=87=B7 Ual=C3=A1 adds [ https://substack.com/redirect/96b= c7057-5977-42d3-afee-e20147760508?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822= j-jnN48_jCfgM3m0rbAsF0l24U ] life and accident insurance to its app via All= ianz, with coverage up to $68k and full digital onboarding. =F0=9F=87=A6=F0=9F=87=B7 Klimber surpasses [ https://substack.com/redirect/= f5eb384d-90cd-4ef4-adce-2202a5a3c843?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP= 822j-jnN48_jCfgM3m0rbAsF0l24U ] 16M insured in LatAm, expands with embedded= microinsurance aiming to reach 91M by 2029. =F0=9F=87=A7=F0=9F=87=B7 Brazil =F0=9F=87=A7=F0=9F=87=B7 Carrot debuts [ https://substack.com/redirect/9cc7= 8d25-7a8b-473b-940e-f992c5e412d5?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j= -jnN48_jCfgM3m0rbAsF0l24U ] circularity credits with Red Door, combining me= thane cuts and biomass recycling, valued over $153/ton. =F0=9F=87=A7=F0=9F=87=B7 Loggi names [ https://substack.com/redirect/d6fd61= 95-1f69-4815-97af-814ce4e9d123?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-j= nN48_jCfgM3m0rbAsF0l24U ] Viviane Sales as new CEO to drive SME growth and = innovation, succeeding Thibaud Lecuyer after six years in leadership. =F0=9F=87=A7=F0=9F=87=B7 NG.CASH partners [ https://substack.com/redirect/c= c754a65-a0c8-4981-a9a2-9284ee570bb5?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP8= 22j-jnN48_jCfgM3m0rbAsF0l24U ] with trap artist Thiago Veigh to launch a co= -branded digital account and prepaid card, targeting Gen Z users with exclu= sive fan perks. =F0=9F=87=A7=F0=9F=87=B7 BlackOpal launches [ https://substack.com/redirect= /c8cf2eb5-6ce8-401f-804b-84633f4e5f8f?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDf= P822j-jnN48_jCfgM3m0rbAsF0l24U ] GemStone on Plume Network to tokenize cred= it receivables, enabling instant settlements and global access to tokenized= debt. =F0=9F=87=A7=F0=9F=87=B7 Koin processed [ https://substack.com/redirect/8ef= b528b-b446-4fb3-b898-5203e8bdb590?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822= j-jnN48_jCfgM3m0rbAsF0l24U ] over $16B in LatAm in 2025 with a 97% approval= rate, solidifying its role as a leading e-commerce fraud prevention provid= er. =F0=9F=87=A8=F0=9F=87=B1 Chile =F0=9F=87=A8=F0=9F=87=B1 Conectados shuts down [ https://substack.com/redir= ect/0eea3b65-74e5-4e3d-960a-3c6e61314d07?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqA= rDfP822j-jnN48_jCfgM3m0rbAsF0l24U ] and enters liquidation after failing to= scale its ID-based payment system, with debts over $1.9M USD. =F0=9F=87=A8=F0=9F=87=B1 Flow warns [ https://substack.com/redirect/671b778= 0-25c2-48fe-a6ff-f1359172c829?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jn= N48_jCfgM3m0rbAsF0l24U ] about rising vacation scams; urges users, merchant= s, and fintechs to boost e-commerce security during LatAm's travel season. =F0=9F=87=A8=F0=9F=87=B1 Flow urges [ https://substack.com/redirect/671b778= 0-25c2-48fe-a6ff-f1359172c829?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jn= N48_jCfgM3m0rbAsF0l24U ] stronger cybersecurity during LatAm vacation seaso= n to fight rising digital travel scams, warns Luis Alcayaga. =F0=9F=87=A8=F0=9F=87=B4 Colombia =F0=9F=87=A8=F0=9F=87=B4 Clinng Payments partners [ https://substack.com/re= direct/8eecd246-79a2-4b6f-9791-b1d32bc2768c?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFO= bqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U ] with Kamin to enable real-time busin= ess payments via Bre-B, expanding interoperable payment use in Colombia. =F0=9F=87=A8=F0=9F=87=B4 Merqueo and Spid shut down [ https://substack.com/= redirect/cc7def36-13f0-42a6-8504-6570d0d2efc2?j=3DeyJ1IjoiM2dmeXZtIn0.xu76u= FObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U ] all operations in Colombia and wil= l not reopen in 2026, citing financial challenges and strategic refocus. =F0=9F=87=A8=F0=9F=87=B4 Cobre Financial gets [ https://substack.com/redire= ct/5d93fc43-b181-46cd-828f-74002aec38e5?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqAr= DfP822j-jnN48_jCfgM3m0rbAsF0l24U ] regulatory approval to operate in Colomb= ia, expanding fintech Cobre=E2=80=99s services into credit and savings. =F0=9F=87=A8=F0=9F=87=B4 Gopass hit [ https://substack.com/redirect/b3c1f75= 1-71f8-48d2-9e09-2bc2f162489f?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jn= N48_jCfgM3m0rbAsF0l24U ] 6M transactions during the holiday season, doublin= g 2024=E2=80=99s volume, with 900K+ users and 91% toll coverage across Colo= mbia. =F0=9F=87=B2=F0=9F=87=BD Mexico =F0=9F=87=B2=F0=9F=87=BD Clara launches [ https://substack.com/redirect/390= 6f4ba-b281-4221-838b-705244556846?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822= j-jnN48_jCfgM3m0rbAsF0l24U ] TravelPay to streamline corporate travel spend= with AI-driven tools and expand its leadership in LatAm expense management= =2E =F0=9F=87=B2=F0=9F=87=BD Prixz boosts [ https://substack.com/redirect/8a91f= 286-7f22-4972-990a-d687c849f134?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-= jnN48_jCfgM3m0rbAsF0l24U ] its catalog to 15k + SKUs, achieving 98.7% full = prescription delivery nationwide to ease access to medications. =F0=9F=87=B5=F0=9F=87=AA Peru =F0=9F=87=B5=F0=9F=87=AA YaVendi=C3=B3 launches [ https://substack.com/redi= rect/a3d2d972-3ba0-4380-bf67-b8253d563305?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObq= ArDfP822j-jnN48_jCfgM3m0rbAsF0l24U ] Yago, an AI avatar assistant for small= businesses, after raising $850k to expand across LatAm. =F0=9F=87=BA=F0=9F=87=BE Uruguay =F0=9F=87=BA=F0=9F=87=BE Viatik, a Uruguayan carpooling app, wins [ https:/= /substack.com/redirect/41c8340f-bb2f-4ed0-8874-018f99a35d6e?j=3DeyJ1IjoiM2d= meXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U ] legal backing as the= MTOP revokes its prior order to cease operations, confirming the startup= =E2=80=99s activity as legitimate. =F0=9F=8C=8E Other LatAm News =F0=9F=87=A8=F0=9F=87=B7=F0=9F=A4=9D=F0=9F=87=A8=F0=9F=87=AD Obsidiam and V= olcanic Glass partner [ https://substack.com/redirect/1545e6e4-1f8d-4fa9-af= 14-2f6df405990b?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rb= AsF0l24U ] with Elliptic to enhance stablecoin compliance and transparency = in cross-border payments across LatAm. =F0=9F=87=BA=F0=9F=87=BE PedidosYa sees [ https://substack.com/redirect/03e= 37188-e305-424e-add2-081775746afa?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822= j-jnN48_jCfgM3m0rbAsF0l24U ] double-digit growth and tops 4,000 partner mer= chants in Costa Rica, reinforcing its tech and delivery leadership. =F0=9F=87=A6=F0=9F=87=B7=F0=9F=87=B5=F0=9F=87=A6=F0=9F=87=B5=F0=9F=87=B7 Po= melo expands [ https://substack.com/redirect/38a55fd4-db72-4998-86a5-d0c938= 1c1228?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U = ] to Panama and Puerto Rico after reaching $100M in five years, doubling re= venue yearly with its API-based card solutions. Big company & policy news =F0=9F=92=A1 =F0=9F=87=A6=F0=9F=87=B7 ARCA confirms [ https://substack.com/redirect/f575= dc83-df19-471a-abf5-799899324646?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j= -jnN48_jCfgM3m0rbAsF0l24U ] virtual wallets like Mercado Pago remain exempt= from the check tax=E2=80=94for now=E2=80=94easing fintech sector concerns. =F0=9F=87=A6=F0=9F=87=B7=F0=9F=A4=9D=F0=9F=87=BB=F0=9F=87=AA MercadoLibre e= yes [ https://substack.com/redirect/bbd56c55-1524-4021-9161-a9cd6ea65e18?j= =3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U ] Venezu= ela as a new market, boosting its LatAm expansion narrative amid investor o= ptimism. =F0=9F=87=A7=F0=9F=87=B7 PicPay files [ https://substack.com/redirect/16212= 736-593d-4660-afcb-8adc111bb437?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-= jnN48_jCfgM3m0rbAsF0l24U ] for a Nasdaq IPO aiming to raise up to $500M, wi= th Bicycle Capital committing up to $75M as anchor investor. =F0=9F=87=A7=F0=9F=87=B7 Nubank plans to obtain [ https://substack.com/redi= rect/efb0cb2f-809a-41e9-bbe5-4abed0218111?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObq= ArDfP822j-jnN48_jCfgM3m0rbAsF0l24U ] a full banking license in Brazil to st= rengthen its regulatory position and drive expansion, amid record valuation= and investor optimism. =F0=9F=87=A8=F0=9F=87=B1 Startup Chile faces [ https://substack.com/redirec= t/75776079-78b5-4e2d-aaf5-76aad62d5bf0?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArD= fP822j-jnN48_jCfgM3m0rbAsF0l24U ] debate over adopting SAFE model for publi= c funding returns, sparking policy discussions on sustainable startup finan= cing in LatAm. Interesting reads =F0=9F=92=A1 =F0=9F=87=BA=F0=9F=87=BE Sergio Fogel, cofounder of dLocal, reflects [ http= s://substack.com/redirect/0ace69a7-73a6-4347-8bec-6f0107159fa7?j=3DeyJ1Ijoi= M2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U ] on scaling global= payments from LatAm, the strategic IPO move, and how AI now resolves 40% o= f dev tickets at the company. Thanks for reading Dealflow LatAm! Subscribe for free to receive new posts = and support my work. Unsubscribe https://substack.com/redirect/2/eyJlIjoiaHR0cHM6Ly9kZWFsZmxvd2x= hdGFtLnN1YnN0YWNrLmNvbS9hY3Rpb24vZGlzYWJsZV9lbWFpbD90b2tlbj1leUoxYzJWeVgybG= tJam95TURrd01UYzBNallzSW5CdmMzUmZhV1FpT2pFNE16RTBOekV6T0N3aWFXRjBJam94TnpZN= E1qRTVORGsyTENKbGVIQWlPakUzT1RrM05UVTBPVFlzSW1semN5STZJbkIxWWkwME5URTRPVFFp= TENKemRXSWlPaUprYVhOaFlteGxYMlZ0WVdsc0luMC5wNko5Z2tJLVJmRnU0T3RLdk5yNWpsRVd= PaDd5UEpXT1Y4NTRUQzBpUEFVIiwicCI6MTgzMTQ3MTM4LCJzIjo0NTE4OTQsImYiOnRydWUsIn= UiOjIwOTAxNzQyNiwiaWF0IjoxNzY4MjE5NDk2LCJleHAiOjIwODM3OTU0OTYsImlzcyI6InB1Y= i0wIiwic3ViIjoibGluay1yZWRpcmVjdCJ9.gUrA6Y32as9k7uC48oPoLq5Nym2bJSN5f3gma1X= keKA? --573656273a9d8d7167fc8e96de5e8a3ca5df29e9fae58bd56e9305d83f31 Content-Type: text/html; charset="utf-8" Content-Transfer-Encoding: quoted-printable Dealflow LatAm #65: Xepe= lin raises $20M. Visma acquires ComunidadFeliz for $70M. PicPay files for N= asdaq IPO with $500M target.3D""
͏     ­͏     ­͏  = ;   ­͏     ­͏     ­= 47;     ­͏     ­͏     = ­͏     ­͏     ­͏  =   ­͏     ­͏     ­T= 7;     ­͏     ­͏     &= #173;͏     ­͏     ­͏   =   ­͏     ­͏     ­͏= ;     ­͏     ­͏     &#= 173;͏     ­͏     ­͏   &= #8199; ­͏     ­͏     ­͏=     ­͏     ­͏     = 73;͏     ­͏     ­͏   &#= 8199; ­͏     ­͏     ­͏ =     ­͏     ­͏     = 3;͏     ­͏     ­͏   = 199; ­͏     ­͏     ­͏ &= nbsp;   ­͏     ­͏     ­= ;͏     ­͏     ­͏   Q= 99; ­͏     ­͏     ­͏ &n= bsp;   ­͏     ­͏     ­= ͏     ­͏     ­͏   ̳= 9; ­͏     ­͏     ­͏ &nb= sp;   ­͏     ­͏     ­&= #847;     ­͏     ­͏    = ; ­͏     ­͏     ­͏ &nbs= p;   ­͏     ­͏     ­&#= 847;     ­͏     ­͏    = ­͏     ­͏     ­͏  = ;   ­͏     ­͏     ­= 47;     ­͏     ­͏     = ­͏     ­͏     ­͏  =   ­͏     ­͏     ­T= 7;     ­͏     ­͏     &= #173;͏     ­͏     ­͏   =   ­͏     ­͏     ­͏= ;     ­͏     ­͏     &#= 173;͏     ­͏     ­͏   &= #8199; ­͏     ­͏     ­͏=     ­͏     ­͏     = 73;͏     ­͏     ­͏   &#= 8199; ­͏     ­͏     ­͏ =     ­͏     ­͏     = 3;͏     ­͏     ­͏   = 199; ­͏     ­͏     ­͏ &= nbsp;   ­͏     ­͏     ­= ;͏     ­͏     ­͏   Q= 99; ­͏     ­͏     ­͏ &n= bsp;   ­͏     ­͏     ­= ͏     ­͏     ­͏   ̳= 9; ­͏     ­͏     ­͏ &nb= sp;   ­͏     ­͏     ­&= #847;     ­͏     ­͏    = ; ­͏     ­͏     ­͏ &nbs= p;   ­͏     ­͏     ­&#= 847;     ­͏     ­͏    = ­͏     ­͏     ­͏  = ;   ­͏     ­͏     ­= 47;     ­͏     ­͏     = ­͏     ­͏     ­͏  =   ­͏     ­͏     ­T= 7;     ­͏     ­͏     &= #173;͏     ­͏     ­͏   =   ­͏     ­͏     ­͏= ;     ­͏     ­͏     &#= 173;͏     ­͏     ­͏   &= #8199; ­͏     ­͏     ­͏=     ­͏     ­͏     = 73;͏     ­͏     ­͏   &#= 8199; ­͏     ­͏     ­͏ =     ­͏     ­͏     = 3;͏     ­͏     ­͏   = 199; ­͏     ­͏     ­͏ &= nbsp;   ­͏     ­͏     ­= ;͏     ­͏     ­
=
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Dealflow LatAm #65: Xepelin raises $20M. Visma acquir= es ComunidadFeliz for $70M. PicPay files for Nasdaq IPO with $500M target.<= /a>

Welcome to the 65th edition of the Dealflow LatAm newsletter: a weekly = summary of everything that happened in the LatAm startup and investment eco= system.

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Hey, it’s Yoel 👋 Back again with the 65th edition of Dealflow LatAm: your go-to source for all the deals, mov= es, and momentum in the region’s startup scene. Wishing everyone a Happy New Year and thank you for joining us for= our very first edition of 2026!

Plenty to break down—so let’s= get into it 🚀

3D""Subscrib= ed

👉🏼 If you’r= e interested in sponsorship opportunities, please reach out to yoel@dealflo= w.es

Startup funding news 💸

  • 🇧= 479; UY3 raises $37.2M from Vinci Compass to fund subordinated FIDC quotas and scal= e its credit infrastructure for fintech partners.

  • 🇧🇷 Frete.com raises $28M via FIDC with XP to expand credit for transporters. BTG= Pactual and Polígono Capital also participated.

  • 🇨🇱 Xepelin r= aises $20M in a bridge round led by Nazca Ventures= to expand in Mexico amid a 40% valuation drop.

  • 🇧Ӻ= 79; Elyx to raise $18.3M to build vert= iports for eVTOLs in Brazil. The round is structured by Arto= n Advisors and targets 6–7 units in major cities.

    • Rounds $1M to $10M:

  • 🇺🇾 Horizon AI = raises $3.5M in a seed round led by NXTP<= span> to expand its enterprise AI platform across LatAm and prepare for U.S= =2E entry.

  • <= span>🇨🇱 Enerlink raises $3.1M to expand EV charging software across LatAm, with new markets like= Brazil in sight.

  • 🇧🇷 Gedanken raises= $2.2M in a round led by Citrino Ventures= to enhance AI features and scale its supplier onboarding and risk ma= nagement platform.

  • 🇨🇷 Snap Compliance Other rounds of funding:<= /strong>

    • 🇨🇱 EGenya<= /strong> raises $600K from Invexor to expand its workforce management platform across industries in Chile.<= /span>

    • = 7464;🇴 Galilea raises $500K fr= om a Silicon Valley-backed U.S. fund to scale its digital lending platform.= The round was supported by a fund linked to Y Combinator.

    • 🇨🇴 Uptime Analytics= re= ceives strategic investment from PX Ventures to expand its AI-driven industrial optimization platform across L= atAm.

    M&A transactions 🎊

    🇧🇷 Bemobi acquir= es Celer from Grupo = Casas Bahia for $1.62M to boost its PaaS and payment solutio= ns.

    🇨🇱 Acid Lab= s acquires 2Brains, add= ing $10M in annual revenue and 160 employees to boost its software services= in Chile.

    🇨🇱 C= omunidadFeliz is acquired by Visma for $70M, marking a major proptech exit in Chile and expanding = Visma’s footprint in LatAm property management tech.

    Investor & accelerator news 🚀

    = 462;🇷 Agencia Córdoba Innovar y Emprender proposes a $6.78M fund to boost VC activity and attract st= artups across LatAm in 2026.

    🇧🇷= ; TQI and BR Angels = 463;🇷 Bossa Invest enables $13= =2E5M in liquidity from 135 exits, high= lighting Brazil’s evolving VC la= ndscape focused on efficient, purpose-driven startups.

    🇧🇷 Cainvest, Liqi, and Foxbit launch= Brazil’s first bond token, enabling fractional investments= in Pemex bonds from $1 via blockchain.

    Ӻ= 63;🇷 TQI launches VC fund with= BR Angels, investing $186K–$931K USD i= n B2B startups modernizing digital infrastructure in data-heavy industries.=

    🇨🇴 CESA, Rockstart LATAM, and ColCapital join forces to boost startup investment i= n Colombia through education, matchmaking, and access to smart capital.

    🇲🇽🤝🇨🇴 Startuplinks and Cuantico VP commit $10M over 10 years to strengthen VC in LatAm throu= gh innovative funding and media-for-equity models.

    <= span>🇵🇪 JAKU Emprende UNSA forms= strategic alliance with UTEC Ventures to boost impact-driven startups in Arequipa, supported by the Anglo American Foundation.

    Op= portunities & Deadlines 👀

    • 🇨= 27473; Carozzi & Hubtec launch the 2026 Ing= redientes del Mañana call to co-create foodtech so= lutions with researchers and startups; Apply by Jan 22= .

    • 🇲🇽 Impact Hub CDMX & Fomento Social Banamex open <= em>EMERGENTE 2026 for creative ventures with so= cial impact; up to $8k, apply by Jan 31= =2E

    • &#= 127463;🇷 GITEX LATAM debuts = in SP on Mar 16 2027, bringing th= e world’s largest tech and innovation event to boost digital transfor= mation and global partnerships.

    • 🇲🇽 Bitso Busines= s confirms the Stablecoin Conference L= atAm 2026, gathering global leaders on stablecoin innovation= in Mexico City; 📅 June 15–16.

    Startup news 💡

    🇦🇷 Argentina

    • 🇦Ӻ= 79; Helipagos launches = Checkout V2, enhancing its digital payments platform with be= tter UX, security, and scalability ahead of expanding into POS solutions.

    • = 462;🇷 Banco Comafi and 123Seguro partner to digitize auto insurance sales, = blending banking reach with insurtech agility.

    • 🇦🇷 Ualá adds life and accident insurance to its a= pp via Allianz, with coverage up to $68k and = full digital onboarding.

    • 🇦🇷 Klimber = surpasses 16M insured in LatAm, expands with embedded microinsura= nce aiming to reach 91M by 2029.

    ㇊= 3;🇷 Brazil

    • 🇧🇷 Carrot debuts circularity credits with Red Door, combining methane cuts and biomass recycling, = valued over $153/ton.

    • 🇧🇷 Loggi names= Viviane Sales as new CEO to drive = SME growth and innovation, succeeding Thibaud Lecuyer after six years in leadership.

    • 🇧🇷 NG.CA= SH partners with trap artist Thiago Ve= igh to launch a co-branded digital account and prepaid card,= targeting Gen Z users with exclusive fan perks.

    • 🇧🇷 BlackOpal launches GemStone on Plume Network to tokenize credi= t receivables, enabling instant settlements and global access to tokenized = debt.

    • 🇧🇷 Koin processed o= ver $16B in LatAm in 2025 with a 97% approval rate, solidifying its role as= a leading e-commerce fraud prevention provider.

    🇨🇱 Chile

    • 🇨Ӻ= 73; Conectados shuts down and enters l= iquidation after failing to scale its ID-based payment system, with debts o= ver $1.9M USD.

    • 🇨🇱 Flow warns about rising vacation scams; urges users, merchants, and fintechs to boo= st e-commerce security during LatAm's travel season.

    • 🇨🇱 = Flow urges stronger cybersecurity during LatA= m vacation season to fight rising digital travel scams, warns Luis Alcayaga.

    🇨= ;🇴 Colombia

    • 🇨🇴 Clinng Payments partners with Ka= min to enable real-time business payments via Bre-B, expanding interoperable payment use in Colombia.

    • =

      ㇊= 4;🇴 Merqueo and Spid shut down all operations in Colombia and will not reop= en in 2026, citing financial challenges and strategic refocus.

    • 🇨Ӻ= 76; Cobre Financial gets regulatory ap= proval to operate in Colombia, expanding fintech Cobre’s services into credit and savings.

    • 🇨🇴 <= strong>Gopass hit 6M transactions during the holiday = season, doubling 2024’s volume, with 900K+ users and 91% toll coverag= e across Colombia.

    🇲🇽 Me= xico

    • 🇲🇽 Clara launches TravelPay to stream= line corporate travel spend with AI-driven tools and expand its leadership = in LatAm expense management.

    • 🇲🇽 Prixz 🇵🇪 Peru

      🇺🇾 Uruguay

        🇺Ӻ= 86; Viatik, a Uruguayan carpooling app, wins= legal backing as the MTOP revokes its = prior order to cease operations, confirming the startup’s activity as= legitimate.

      🌎 = Other LatAm News

        <= li style=3D"margin: 8px 0 0 32px;mso-special-format: bullet;">

        🇨🇷&#= 129309;🇨🇭 Obsidiam and Volcanic Glass partner with E= lliptic to enhance stablecoin compliance and transparency in= cross-border payments across LatAm.

      • 🇺🇾 PedidosY= a sees double-digit growth and tops 4,000 partner mer= chants in Costa Rica, reinforcing its tech and delivery leadership.<= /p>

      • 🇦&#= 127479;🇵🇦🇵🇷 Pomelo<= span> expands to Panama and Puerto Rico after reaching $100M in five years, doublin= g revenue yearly with its API-based card solutions.

      Big company & policy news 💡

      = 7462;🇷 ARCA confirms virtual w= allets like Mercado Pago remain exempt from t= he check tax—for now—easing fintech sector concerns.

      =

      🇦🇷🤝🇻🇪 MercadoLibre eyes Venezuela as a new market, boo= sting its LatAm expansion narrative amid investor optimism.

      🇧🇷 PicPay files for a Nasdaq IPO aiming to raise up to $500M, with B= icycle Capital committing up to $75M as anchor investor.

      🇧🇷 Nubank= plans to obtain a full banking license in Brazil to strengthe= n its regulatory position and drive expansion, amid record valuation and in= vestor optimism.

      🇨🇱 Startup Chile faces debate over adopting SAFE mo= del for public funding returns, sparking policy discussions on sustainable = startup financing in LatAm.

      Interesting reads 💡= ;

      🇺🇾 Sergio Fogel, cofounder of dLocal, reflects on scaling global payments from LatAm, the strategic IPO move, and how= AI now resolves 40% of dev tickets at the company.

      Thanks for reading Dealflow LatAm! Subscribe for = free to receive new posts and support my work.

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