Mime-Version: 1.0 Content-Type: multipart/alternative; boundary="b170f3d2ac80df967e0abf43362367d09b054b9834b62cc828d2b269fdee" Subject: Dealflow LatAm #30: Kavak raises $127M. Banorte acquires RappiCard. Alina bets $10M on the future of work. From: Yoel Rodriguez of Dealflow LatAm To: Hidden Recipient Date: Mon, 21 Apr 2025 11:01:09 +0000 X-Hiring: We are hiring, reach out at header-hacker@emailshot.io X-EmailShot-Signature: QgpwhpxCkdUUhPFXiWpohlN1cePm3EOINI9OHuSKGgpNUtNnliVWE4AujDs4V0h_OhraRcaxTAQ69-xEsfKJBQ== --b170f3d2ac80df967e0abf43362367d09b054b9834b62cc828d2b269fdee 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-30-kavak-raises-127m Hey, it=E2=80=99s Yoel =F0=9F=91=8B Back again with the 30th edition of Dea= lflow LatAm=E2=80=94your go-to source for all the deals, moves, and momentu= m in the region=E2=80=99s startup scene. This week was packed: =F0=9F=87=B2=F0=9F=87=BD Kavak raised $127M (and adde= d $400M in credit lines) as it recalibrates its valuation. =F0=9F=87=A8=F0= =9F=87=B1 Toku pulled in $48M to scale automated payments, and =F0=9F=87=A7= =F0=9F=87=B7 Onfly secured $40M to take AI-powered business travel global. = Meanwhile, M&A stayed hot with Banorte taking over RappiCard and ActiveCamp= aign snapping up Hilos. On the fund side, =F0=9F=87=A6=F0=9F=87=B7 Alina VC= launched a $10M vehicle to back the future of work across LatAm. Plenty to break down=E2=80=94so let=E2=80=99s get into it =F0=9F=9A=80 Startup funding news=C2=A0=F0=9F=92=B8 Rounds of $10M+: =F0=9F=87=B2=F0=9F=87=BD Kavak raises [ https://substack.com/redirect/1eb1e= e27-b43e-4429-a281-8e1fdc9595df?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-= jnN48_jCfgM3m0rbAsF0l24U ] $127M in a down round, cutting its valuation fro= m $8.7B to $2.2B. The funding was co-led by SoftBank and General Atlantic a= nd includes $400M in credit lines from Goldman Sachs and HSBC to strengthen= its car financing arm, Kuna Capital. =F0=9F=87=A8=F0=9F=87=B1 Toku raises [ https://substack.com/redirect/ecd316= 92-60d9-41bb-83ea-02ed30d06a6e?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-j= nN48_jCfgM3m0rbAsF0l24U ] $48M to expand its automated payment collection p= latform. The Series A was led by Oak HC/FT, with backing from Gradient Vent= ures, F-Prime, and others. =F0=9F=87=A7=F0=9F=87=B7 Onfly raises [ https://substack.com/redirect/55caa= a8e-48a9-4c95-9011-a236fd706a6a?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-= jnN48_jCfgM3m0rbAsF0l24U ] $40M to scale its B2B travel and expense platfor= m with AI and expand internationally. The Series B round was led by Tidemar= k, with participation from Endeavor Catalyst and Left Lane Capital. =F0=9F=87=A7=F0=9F=87=B7 Belvo raises [ https://substack.com/redirect/17f0d= 36f-01ba-422d-a336-eaab9d9cd2e1?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-= jnN48_jCfgM3m0rbAsF0l24U ] $15M to boost AI-powered Open Finance tools. The= round was led by Quona Capital and Kaszek. Rounds $1M to $10M: =F0=9F=87=A8=F0=9F=87=B4 Finaktiva raises [ https://substack.com/redirect/2= 80170a2-6cc2-421a-bcd7-31b0a327e8f6?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP8= 22j-jnN48_jCfgM3m0rbAsF0l24U ] $10M to expand credit and factoring services= for SMEs. The round was financed by BBVA Spark to boost liquidity and supp= ort its international expansion. =F0=9F=87=A7=F0=9F=87=B7 Confi raises [ https://substack.com/redirect/51fbe= d6e-b47d-4e45-8168-c0e797822bff?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-= jnN48_jCfgM3m0rbAsF0l24U ] $4M led by Pedro Chiamulera to boost its retail = data platform. Funds will enhance insights and integration for optimizing s= ales. =F0=9F=87=A7=F0=9F=87=B7 Altis raises [ https://substack.com/redirect/c4ac4= c33-8a9c-4d98-8351-c931836651f4?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-= jnN48_jCfgM3m0rbAsF0l24U ] $3M to launch its credit infrastructure platform= =2E The round supports the fintech's en= try into the market and includes found= ers from Kavak, Mercado Livre, and Creditas. =F0=9F=87=B2=F0=9F=87=BD Nufi raises [ https://substack.com/redirect/7f5fc9= a9-7d1a-41da-9def-9ef2f3d5f7c5?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-j= nN48_jCfgM3m0rbAsF0l24U ] $1.5M to expand identity verification tech. The s= eed round was led by GPCompas and Magma Partners. =F0=9F=87=A6=F0=9F=87=B7 Lazo, a legal-fintech SaaS, raises [ https://subst= ack.com/redirect/29ab4ca7-3781-4e36-b6e6-1c511ba5cfb9?j=3DeyJ1IjoiM2dmeXZtI= n0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U ] $1M from AlleyCorp after w= inning the PeerLess Pitch Competition in New York. The funds will fuel prod= uct development and client growth. =F0=9F=87=B2=F0=9F=87=BD=F0=9F=A4=9D=F0=9F=87=A6=F0=9F=87=B7 Arca Continent= al invests [ https://substack.com/redirect/5c44fbf3-8a99-4974-8078-05a606ea= c7c5?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U ] = in $1M seed round of AI startup Sensify to optimize cooler monitoring and p= roduct display. The deal, via AC Ventures, aims to boost retail efficiency = and drive innovation across LatAm. Other rounds of funding: =F0=9F=87=A8=F0=9F=87=B1 AdmiralONE raises [ https://substack.com/redirect/= 071b9a66-1267-41d2-8505-538b0e2f32e6?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP= 822j-jnN48_jCfgM3m0rbAsF0l24U ] $462K to grow its RegTech platform. Funds s= upported acquiring Confiden and GeniaControl, and adding a new co-founder C= TO. M&A transactions =F0=9F=8E=8A =F0=9F=87=B2=F0=9F=87=BD Banorte acquires [ https://substack.com/redirect/7= d5cc315-4436-4978-bcc4-f1d85e617d10?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP8= 22j-jnN48_jCfgM3m0rbAsF0l24U ] full ownership of RappiCard for $50M. The de= al gives Banorte 100% of Tarjetas del Futuro, strengthening its digital str= ategy and exclusive financial offerings within the Rappi ecosystem. =F0=9F=87=B2=F0=9F=87=BD Hilos, a Mexico-based WhatsApp automation platform= , is acquired [ https://substack.com/redirect/f7fbf130-3297-4891-8653-05886= eae3910?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U= ] by ActiveCampaign to enhance its cross-channel marketing capabilities wi= th native WhatsApp integrations. =F0=9F=87=A8=F0=9F=87=B1 Achilles acquires [ https://substack.com/redirect/= 7b73d9af-3046-4f56-8e03-31b781273f63?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP= 822j-jnN48_jCfgM3m0rbAsF0l24U ] InfoControl to boost global risk management= with AI. The deal enhances Achilles=E2=80=99 platform with automated contr= actor assessments and advanced document processing, expanding its presence = in LatAm. =F0=9F=87=A8=F0=9F=87=B1 Lineup acquires [ https://substack.com/redirect/b2= 460c21-fc5c-411f-b2e1-d445b2cf3f11?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP82= 2j-jnN48_jCfgM3m0rbAsF0l24U ] Buscaolas to expand its surf-focused live cam= network in Chile, integrating its assets and community. This marks its sec= ond LatAm acquisition after Argentina's Freewaves. =F0=9F=87=A7=F0=9F=87=B7 Mevo acquires [ https://substack.com/redirect/47b1= 137b-160a-430a-bfc6-83cf8930df2e?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j= -jnN48_jCfgM3m0rbAsF0l24U ] Receita Digital to expand its digital prescript= ion platform. The move strengthens Mevo=E2=80=99s position in Brazil=E2=80= =99s healthtech sector and grows its base of prescribing professionals. =F0=9F=87=A7=F0=9F=87=B7 Dock acquires [ https://substack.com/redirect/1dbc= c506-650d-4319-b4ff-53479a95aa01?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j= -jnN48_jCfgM3m0rbAsF0l24U ] DM SCD to enter the credit market. The deal, pe= nding regulatory approval, enables the fintech to offer lending and credit = analysis services. Investor & accelerator news =F0=9F=9A=80 =F0=9F=87=A6=F0=9F=87=B7 Alina VC launches [ https://substack.com/redirect/= 011e5a69-bceb-40cb-8d2f-7eed4f901a04?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP= 822j-jnN48_jCfgM3m0rbAsF0l24U ] $10M Fund I focused on the Future of Work. = The sector-specific VC fund, advised by TCA Tanoira Cassagne, targets early= -stage startups in HRTech, gig economy, and AI across LatAm. =F0=9F=87=A6=F0=9F=87=B7 Build Latam launches [ https://substack.com/redire= ct/b3ad11dc-9d52-4699-a2d5-0d4ce5c8da50?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqAr= DfP822j-jnN48_jCfgM3m0rbAsF0l24U ] $1M Web3 grants program in C=C3=B3rdoba = to fund 15 startups using World ID tech for payments, social benefits, and = digital identity. Backed by World, Alaya Capital, and Kalei Ventures. =F0=9F=87=A8=F0=9F=87=B1 Corfo has invested [ https://substack.com/redirect= /96b308ce-268b-4ada-9f4a-83d861578658?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDf= P822j-jnN48_jCfgM3m0rbAsF0l24U ] over $1.06B in VC support since 1998, fund= ing 72 funds and 497 startups=E2=80=9473% micro or small. In 2024, it launc= hed new funds with a focus on gender and decarbonization. =F0=9F=87=A8=F0=9F=87=B1 Startup Biob=C3=ADo hosted [ https://substack.com/= redirect/7bc041e0-2939-4cea-856c-d20a22cbc391?j=3DeyJ1IjoiM2dmeXZtIn0.xu76u= FObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U ] a vibrant Pitch Day during MadeInn= Conce, selecting 3 finalists=E2=80=94Calory Bricks, Soacili Plus, and Calif= ix Compliance. The event highlighted innovation from southern Chile and sel= ected 30 startups for its internationalization program. =F0=9F=87=A8=F0=9F=87=B1 Activa, Transforma e Innova supports [ https://sub= stack.com/redirect/d3d39ec7-68b5-4a2f-9f3d-4bf848cbdb40?j=3DeyJ1IjoiM2dmeXZ= tIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U ] 40 women-led startups in= Antofagasta with tech and sustainability training, backed by Origo Lab and= Corfo. =F0=9F=87=A8=F0=9F=87=B4 Ruta N and Banc=C3=B3ldex invest [ https://substac= k.com/redirect/1d403bad-41cd-43e7-8dc8-8989026084ac?j=3DeyJ1IjoiM2dmeXZtIn0= =2Exu76uFObqArDfP822j-jnN48_jCfgM3m0r= bAsF0l24U ] $3.5M to boost Medell=C3=ADn= =E2=80=99s fintech ecosystem. Funds will support early-stage startups throu= gh Fondo Simma Fintech +, aiming to finance 30 ventures and launch a new fu= nd-of-funds by August 2025. Opportunities & Deadlines =F0=9F=91=80 =F0=9F=87=B5=F0=9F=87=B7 Parallel18 launches [ https://substack.com/redirec= t/6fec4090-04f9-4822-aaea-6241e99c7b14?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArD= fP822j-jnN48_jCfgM3m0rbAsF0l24U ] its 13th global startup cohort offering $= 40K, mentorship, and a 20-week accelerator in Puerto Rico. Applications are= open until April 25. =F0=9F=87=A6=F0=9F=87=B7 UNCUYO and Fundaci=C3=B3n Blockchain launch [ http= s://substack.com/redirect/ae2c1878-a9d0-4940-9ac8-972e0d255b93?j=3DeyJ1Ijoi= M2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U ] a Web3 incubator = with a 10-week virtual program. Applications are open until April 28. =F0=9F=87=A7=F0=9F=87=B7 Sebrae opens [ https://substack.com/redirect/c6336= 1c7-5f68-4789-b761-79fb4e001f0e?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-= jnN48_jCfgM3m0rbAsF0l24U ] applications for the BRICS Women=E2=80=99s Start= ups Contest to highlight women-led ventures across six categories. Startups= can apply until May 4. =F0=9F=87=A7=F0=9F=87=B8=F0=9F=8C=8D Caribbean Venture Collective launches = [ https://substack.com/redirect/55b4d0de-3f4d-4137-8c70-c048d3836f39?j=3Dey= J1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U ] to back fou= nders with Caribbean ties. Founded by Techstars alumni, it offers an equity= -free fellowship and investor access, with applications open until June 16. =F0=9F=87=A8=F0=9F=87=B1 Endeavor launches [ https://substack.com/redirect/= 9b1ef607-fa70-4305-8a41-ae69cbc9bce5?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP= 822j-jnN48_jCfgM3m0rbAsF0l24U ] the second edition of Scale Up in Chile to = accelerate 13 growth-stage startups with mentorship and global expansion su= pport. Startup news =F0=9F=92=A1 =F0=9F=87=A6=F0=9F=87=B7 Argentina =F0=9F=87=A6=F0=9F=87=B7 Kripton partners [ https://substack.com/redirect/8= 6849425-2ed1-4a41-94cd-435874d60fe7?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP8= 22j-jnN48_jCfgM3m0rbAsF0l24U ] with TRON DAO and Tether to enable USDT paym= ents and microloans for 2,000+ merchants in Argentina, boosting financial i= nclusion. =F0=9F=87=A7=F0=9F=87=B7 Brazil =F0=9F=87=A7=F0=9F=87=B7 99Food to relaunch [ https://substack.com/redirect= /d3e9ee23-f729-4801-9ec7-d4a5079b895d?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDf= P822j-jnN48_jCfgM3m0rbAsF0l24U ] in Brazil with a $172M investment from Did= i. The funds aim to revive its food delivery service, expand into personal = finance, and compete with iFood. =F0=9F=87=A7=F0=9F=87=B7 Mottu hits [ https://substack.com/redirect/0b6b193= f-1e61-4250-98d4-a36e16add35f?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jn= N48_jCfgM3m0rbAsF0l24U ] $200M in revenue with 100K+ rentals, empowering gi= g workers in Brazil and Mexico through affordable mobility. =F0=9F=87=A7=F0=9F=87=B7 Nexoos regains [ https://substack.com/redirect/815= 6f8fb-7f4f-42fa-a714-d15d20b31089?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822= j-jnN48_jCfgM3m0rbAsF0l24U ] independence from Ame Digital after 4 years an= d will focus on scaling its Credit as a Service platform. =F0=9F=87=A8=F0=9F=87=B1 Chile =F0=9F=87=A8=F0=9F=87=B1 NotCo launches [ https://substack.com/redirect/0dc= f86eb-71d4-4ce4-ac1f-955e9f61fa70?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822= j-jnN48_jCfgM3m0rbAsF0l24U ] NotCo Tech to expand its AI-powered B2B foodte= ch platform across North America, Europe, and LatAm. =F0=9F=87=A8=F0=9F=87=B1 Mercado Pago launches [ https://substack.com/redir= ect/c111ec27-47da-4c4c-a05c-475fd99a63a0?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqA= rDfP822j-jnN48_jCfgM3m0rbAsF0l24U ] Meli D=C3=B3lar, a USD-pegged stablecoi= n in Chile, enabling users to save and invest via its app. =F0=9F=87=A8=F0=9F=87=B1 KLog.co featured [ https://substack.com/redirect/8= 8a1a8b8-306d-42ac-ae1e-a1f4c1bdce56?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP8= 22j-jnN48_jCfgM3m0rbAsF0l24U ] in a Harvard Business School case study for = transforming LatAm logistics through tech. The Chilean startup serves 5,000= + clients and plans to expand from its new HQ in Mexico. =F0=9F=87=A8=F0=9F=87=B1 EY Chile partners [ https://substack.com/redirect/= a85f80b2-6518-4216-b59d-66eee0c66a07?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP= 822j-jnN48_jCfgM3m0rbAsF0l24U ] with Buk to enhance its payroll services. T= he alliance combines EY=E2=80=99s expertise with Buk=E2=80=99s tech to offe= r a secure, automated, and compliant HR solution. =F0=9F=87=A8=F0=9F=87=B4 Colombia =F0=9F=87=A8=F0=9F=87=B4 Sebasti=C3=A1n Mej=C3=ADa steps down [ https://sub= stack.com/redirect/e8f4ab57-b666-4053-90d0-249b61ecd8b7?j=3DeyJ1IjoiM2dmeXZ= tIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U ] as president of Rappi, r= emaining on the board. He leaves daily operations to pursue new ventures re= flecting his personal evolution. =F0=9F=87=B2=F0=9F=87=BD Mexico =F0=9F=87=B2=F0=9F=87=BD Finsus expands to [ https://substack.com/redirect/= 7f537ec0-30ea-4e81-80eb-6450c0a077bb?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP= 822j-jnN48_jCfgM3m0rbAsF0l24U ] the U.S. with remittance services and plans= a capital raise ahead of a potential IPO. =F0=9F=87=B2=F0=9F=87=BD Nu M=C3=A9xico receives [ https://substack.com/red= irect/5714a3ab-2eab-4775-aab0-adbae75497ae?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFOb= qArDfP822j-jnN48_jCfgM3m0rbAsF0l24U ] approval from the CNBV to become a ba= nk, aiming to compete with major players and expand its financial services. =F0=9F=87=B2=F0=9F=87=BD Biogrip wins [ https://substack.com/redirect/2b2b8= 850-b9e2-4418-8689-ade0a4a05bd1?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-= jnN48_jCfgM3m0rbAsF0l24U ] global award from Santander, Microsoft, and Oxen= tia Foundation for its AI- and IoT-powered bionic limb and rehab tech. =F0=9F=87=B5=F0=9F=87=AA Peru =F0=9F=87=B5=F0=9F=87=AA Monnet Payments, founded by Franco Zurita, is reco= gnized [ https://substack.com/redirect/bc28f957-01dc-47b7-8da5-290373321100= ?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U ] by M= IT Technology Review for streamlining online payments across 8 LatAm countr= ies. =F0=9F=87=B5=F0=9F=87=AA Teamcore launches [ https://substack.com/redirect/= 093e6ee7-a3e3-4a50-95e6-95680b077f3a?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP= 822j-jnN48_jCfgM3m0rbAsF0l24U ] TSOL to boost traditional retail with AI, i= mproving product availability, distribution, and sales by up to 25%. =F0=9F=87=A8=F0=9F=87=B1 Rocktruck doubles [ https://substack.com/redirect/= ea640432-195a-431e-a9d5-b889cf01445a?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP= 822j-jnN48_jCfgM3m0rbAsF0l24U ] revenue and expands to Peru after a strateg= ic investment from Lipigas. The funds support its AI-driven last-mile logis= tics and regional growth. =F0=9F=8C=8E Other LatAm News =F0=9F=87=A8=F0=9F=87=B4 Nequi expands to [ https://substack.com/redirect/e= 32965f1-3721-417b-95c0-dd891493ec46?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP8= 22j-jnN48_jCfgM3m0rbAsF0l24U ] Guatemala and El Salvador, offering savings,= remittances, and credit to boost financial inclusion in both countries. =F0=9F=87=A8=F0=9F=87=B1=F0=9F=A4=9D=F0=9F=87=B2=F0=9F=87=BD NotCo partners= [ https://substack.com/redirect/9b4ca9b5-3bce-413b-9276-99403e2129fc?j=3De= yJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U ] with Aerom= exico to offer its NotBurger on select flights, expanding its plant-based a= irline meal reach in LatAm after teaming with LATAM last year. Big company & policy news =F0=9F=92=A1 =F0=9F=87=A6=F0=9F=87=B7 Argentina=E2=80=99s tax authority ARCA now require= s [ https://substack.com/redirect/11e455a2-c58d-4aa5-a4ad-a18f4e1e2ff6?j=3D= eyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U ] individua= ls to declare crypto wallet addresses in annual asset reports. The move aim= s to increase fiscal control and traceability of digital assets. =F0=9F=87=A6=F0=9F=87=B7 ARCAP supports [ https://substack.com/redirect/fd6= 7dbe2-f4f5-4608-9898-542801318311?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822= j-jnN48_jCfgM3m0rbAsF0l24U ] Argentina's currency unification, seeing it as= key to reviving startup investments and boosting competitiveness. =F0=9F=87=B2=F0=9F=87=BD Openbank launches [ https://substack.com/redirect/= b7fc98ea-e370-4d2a-9b0c-32e0707929ec?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP= 822j-jnN48_jCfgM3m0rbAsF0l24U ] in Mexico with a $2B investment to expand i= ts digital banking services. Backed by Grupo Santander, the bank aims to of= fer competitive financial products and capitalize on Mexico=E2=80=99s growt= h potential. =F0=9F=87=B2=F0=9F=87=BD=F0=9F=A4=9D=F0=9F=87=BA=F0=9F=87=B8 PriceTravel pa= rtners [ https://substack.com/redirect/8f059f5f-9162-41cf-aa9c-ee6b92bf7beb= ?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U ] with= Amazon Web Services to enhance scalability, security, and efficiency in it= s digital platforms across LatAm using AWS cloud and AI tools. =F0=9F=87=AA=F0=9F=87=B8 S2GRUPO to invest [ https://substack.com/redirect/= 179c794a-603f-4522-bdaf-65a30c2cfc50?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP= 822j-jnN48_jCfgM3m0rbAsF0l24U ] $214M in LatAm by 2030, focusing on Colombi= a and Mexico to boost cybersecurity in critical sectors with sovereign IT+O= T solutions. Interesting reads =F0=9F=92=A1 =F0=9F=87=A7=F0=9F=87=B7 Wana Schulze, Head of Wayra Brasil and Vivo Ventur= es, shared [ https://substack.com/redirect/84a7c1f4-13a7-404d-a995-7e75ae3c= b5d6?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U ] = key takeaways from South Summit 2025, highlighting how CVCs are leaning int= o generative AI, the rise of data-driven startup cultures, and the growing = role of secondaries in a turbulent macroeconomic landscape. Thanks for reading Dealflow LatAm! Subscribe for free to receive new posts = and support my work. Unsubscribe https://substack.com/redirect/2/eyJlIjoiaHR0cHM6Ly9kZWFsZmxvd2x= hdGFtLnN1YnN0YWNrLmNvbS9hY3Rpb24vZGlzYWJsZV9lbWFpbD90b2tlbj1leUoxYzJWeVgybG= tJam95TURrd01UYzBNallzSW5CdmMzUmZhV1FpT2pFMk1UWTNNell5Tnl3aWFXRjBJam94TnpRM= U1qTXpNekUxTENKbGVIQWlPakUzTnpZM05qa3pNVFVzSW1semN5STZJbkIxWWkwME5URTRPVFFp= TENKemRXSWlPaUprYVhOaFlteGxYMlZ0WVdsc0luMC5yTHJ2bkNhYjYyT0ZKWVh1bi1tSHBFQjJ= xNHFwWXY0aWxma2dCWHUtZzQ0IiwicCI6MTYxNjczNjI3LCJzIjo0NTE4OTQsImYiOnRydWUsIn= UiOjIwOTAxNzQyNiwiaWF0IjoxNzQ1MjMzMzE1LCJleHAiOjE3NDc4MjUzMTUsImlzcyI6InB1Y= i0wIiwic3ViIjoibGluay1yZWRpcmVjdCJ9.R9djmqs18gCh-HtX_BXI_aW07mjZ4zLGCdAjWoX= F2Z0? --b170f3d2ac80df967e0abf43362367d09b054b9834b62cc828d2b269fdee Content-Type: text/html; charset="utf-8" Content-Transfer-Encoding: quoted-printable Dealflow LatAm #30: Kavak raises = $127M. Banorte acquires RappiCard. 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} @media (max-width: 400px) { .audio-player-wrapper-fancy .audio-player .btn-group { margin-top: 12px; } .audio-player-wrapper-fancy .audio-player .btn-group .button { font-size: 13px; padding: 6px 12px; height: auto; margin-top: 10px; } } @media (min-width: 600px) { .audio-player-wrapper-fancy .audio-player .audio-player-hero-image-contai= ner { padding-top: 55%; width: 55%; } } @media (max-width: 650px) { .poll-editor-modal { min-width: calc(100% - 20px); } } @media (max-width: 750px) { .poll-embed .poll-anchor-target .poll-anchor-copy-button { left: 8px; top: 45px; } } @media screen and (min-width: 541px) { .poll-embed .poll-wrapper.poll-web .poll-dialog .modal-table .modal-row .= modal-content > .container { width: 552px; padding: 26px 24px; } } @media screen and (max-width: 650px) { .poll-embed .poll-wrapper.poll-web .poll-dialog .modal-table .modal-row .= modal-content > .container { padding: 40px 0; } } @media screen and (max-width: 650px) { .poll-embed .poll-wrapper.poll-web .poll-dialog .modal-row .modal-cell .m= odal-exit-btn { margin-right: -20px; } }</style></head><body class=3D"email-body" style=3D"font-kerning: auto;"><i= mg src=3D"https://eotrx.substackcdn.com/open?token=3DeyJtIjoiPDIwMjUwNDIxMT= EwMTA5LjMuMmE4ZWRiNGYxZjI0MDc1MEBtZzIuc3Vic3RhY2suY29tPiIsInUiOjIwOTAxNzQyN= iwiciI6InN1YnNAZW1haWxzaG90LmlvIiwiZCI6Im1nMi5zdWJzdGFjay5jb20iLCJwIjoxNjE2= NzM2MjcsInQiOiJuZXdzbGV0dGVyIiwiYSI6ImV2ZXJ5b25lIiwicyI6NDUxODk0LCJjIjoicG9= zdCIsImYiOnRydWUsInBvc2l0aW9uIjoidG9wIiwiaWF0IjoxNzQ1MjMzMzE3LCJleHAiOjE3ND= c4MjUzMTcsImlzcyI6InB1Yi0wIiwic3ViIjoiZW8ifQ.69gxbiwrF3Kr14FgQvUwhf7dj5W-kp= Ec8b2kDs3bZV8" alt=3D"" width=3D"1" height=3D"1" border=3D"0" style=3D"heig= ht:1px !important;width:1px !important;border-width:0 !important;margin-top= :0 !important;margin-bottom:0 !important;margin-right:0 !important;margin-l= eft:0 !important;padding-top:0 !important;padding-bottom:0 !important;paddi= ng-right:0 !important;padding-left:0 !important;"/><div class=3D"preview" s= tyle=3D"display:none;font-size:1px;color:#333333;line-height:1px;max-height= :0px;max-width:0px;opacity:0;overflow:hidden;">Welcome to the 30th edition = of the Dealflow LatAm newsletter: a weekly summary of everything that happe= ned in the LatAm startup and investment ecosystem.</div><div class=3D"previ= ew" style=3D"display:none;font-size:1px;color:#333333;line-height:1px;max-h= eight:0px;max-width:0px;opacity:0;overflow:hidden;">͏     &= #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;   ­͏     ­͏     ­= ;͏     ­͏     ­͏   Q= 99; ­͏     ­͏     ­͏ &n= bsp;   ­͏     ­͏     ­= ͏     ­͏     ­͏   ̳= 9; ­͏     ­͏     ­͏ &nb= sp;   ­͏     ­͏     ­&= #847;     ­</div><table class=3D"email-body-container" role= =3D"presentation" width=3D"100%" border=3D"0" cellspacing=3D"0" cellpadding= =3D"0"><tbody><tr><td></td><td class=3D"content" width=3D"550"></td><td></t= d></tr><tr><td></td><td class=3D"content" width=3D"550" align=3D"left"><div= style=3D"font-size: 16px;line-height: 26px;max-width: 550px;width: 100%;ma= rgin: 0 auto;overflow-wrap: break-word;"><table role=3D"presentation" width= =3D"100%" border=3D"0" cellspacing=3D"0" cellpadding=3D"0"><tbody><tr><td a= lign=3D"right" style=3D"height:20px;"><table role=3D"presentation" width=3D= "auto" border=3D"0" cellspacing=3D"0" cellpadding=3D"0"><tbody><tr><td styl= e=3D"vertical-align:middle;"><span class=3D"pencraft pc-reset reset-IxiVJZ = tw-font-body tw-text-ssm tw-text-substack-secondary" style=3D"font-family: = SF Pro Text, -apple-system, system-ui, BlinkMacSystemFont, Inter, Segoe UI,= Roboto, Helvetica, Arial, sans-serif, Apple Color Emoji, Segoe UI Emoji, S= egoe UI Symbol;font-size: 13px;color: unset;list-style: none;text-decoratio= n: unset;margin: 0;"><div class=3D"pencraft pc-reset align-right-VJbKw5 siz= e-12-mmZ61m reset-IxiVJZ" style=3D"list-style: none;color: unset;text-align= : right;font-size: 12px;line-height: 16px;text-decoration: unset;margin: 0;= "><span class=3D"pencraft pc-reset reset-IxiVJZ" translated=3D"" style=3D"l= ist-style: none;color: unset;text-decoration: unset;margin: 0;">Forwarded t= his email? <a class=3D"pencraft pc-reset decoration-underline-ClTkYc reset-= IxiVJZ" href=3D"https://substack.com/redirect/2/eyJlIjoiaHR0cHM6Ly9kZWFsZmx= vd2xhdGFtLnN1YnN0YWNrLmNvbS9zdWJzY3JpYmU_dXRtX3NvdXJjZT1lbWFpbCZ1dG1fY2FtcG= FpZ249ZW1haWwtc3Vic2NyaWJlJnI9M2dmeXZtJm5leHQ9aHR0cHMlM0ElMkYlMkZkZWFsZmxvd= 2xhdGFtLnN1YnN0YWNrLmNvbSUyRnAlMkZkZWFsZmxvdy1sYXRhbS0zMC1rYXZhay1yYWlzZXMt= MTI3bSIsInAiOjE2MTY3MzYyNywicyI6NDUxODk0LCJmIjp0cnVlLCJ1IjoyMDkwMTc0MjYsIml= hdCI6MTc0NTIzMzMxNSwiZXhwIjoxNzQ3ODI1MzE1LCJpc3MiOiJwdWItMCIsInN1YiI6Imxpbm= stcmVkaXJlY3QifQ.Kh06mhccz_p8MMi1UfXRwmkn9EFu_Py6rBrgdidg42Y?" style=3D"lis= t-style: none;color: unset;text-decoration: unset;margin: 0;-webkit-text-de= coration-line: underline;text-decoration-line: underline;">Subscribe here</= a> for more</span></div></span></td></tr></tbody></table></td></tr></tbody>= </table><table class=3D"header graphic-header" role=3D"presentation" style= =3D"border-spacing: 0;padding: 16px 0 32px;"><tbody><tr><td align=3D"center= " style=3D"text-align: center;padding: 0;"><a href=3D"https://substack.com/= redirect/2/eyJlIjoiaHR0cHM6Ly9kZWFsZmxvd2xhdGFtLnN1YnN0YWNrLmNvbS9wL2RlYWxm= bG93LWxhdGFtLTMwLWthdmFrLXJhaXNlcy0xMjdtP3V0bV9jYW1wYWlnbj1lbWFpbC1oYWxmLXB= vc3Qmcj0zZ2Z5dm0mdG9rZW49ZXlKMWMyVnlYMmxrSWpveU1Ea3dNVGMwTWpZc0luQnZjM1JmYV= dRaU9qRTJNVFkzTXpZeU55d2lhV0YwSWpveE56UTFNak16TXpFMUxDSmxlSEFpT2pFM05EYzRNa= lV6TVRVc0ltbHpjeUk2SW5CMVlpMDBOVEU0T1RRaUxDSnpkV0lpT2lKd2IzTjBMWEpsWVdOMGFX= OXVJbjAuVTNpQ1NkM2lnb2V1VU9MbHltclVLWnNvbUh1Y2xuV3ZjVkhTSENmS3ltNCIsInAiOjE= 2MTY3MzYyNywicyI6NDUxODk0LCJmIjp0cnVlLCJ1IjoyMDkwMTc0MjYsImlhdCI6MTc0NTIzMz= MxNSwiZXhwIjoxNzQ3ODI1MzE1LCJpc3MiOiJwdWItMCIsInN1YiI6ImxpbmstcmVkaXJlY3Qif= Q.WILtt-WLZq6874z2PalrkGcMKBMai_2N92uaf8vc1dA?"><img class=3D"header-image"= role=3D"presentation" width=3D"550" height=3D"102" src=3D"https://substack= cdn.com/image/fetch/w_1100,c_limit,f_auto,q_auto:good,fl_progressive:steep/= https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F45e8= 5a01-766a-4916-98ff-6207be7aa703_2224x412.png" style=3D"border: none !impor= tant;vertical-align: middle;max-width: 550px;display: block;margin: 0 auto;= height: auto;width: 100%;"></a></td></tr></tbody></table><div class=3D"post= typography" dir=3D"auto" style=3D"padding: 32px 0 0 0;font-size: 16px;line= -height: 26px;"><div class=3D"post-header" style=3D"font-size: 16px;line-he= ight: 26px;"><h1 class=3D"post-title published" style=3D"color: rgb(54,55,5= 5);font-family: 'SF Pro Display',-apple-system-headline,system-ui,-apple-sy= stem,BlinkMacSystemFont,'Segoe UI',Roboto,Helvetica,Arial,sans-serif,'Apple= Color Emoji','Segoe UI Emoji','Segoe UI Symbol';font-weight: bold;-webkit-= font-smoothing: antialiased;-moz-osx-font-smoothing: antialiased;-webkit-ap= pearance: optimizelegibility;-moz-appearance: optimizelegibility;appearance= : optimizelegibility;margin: 0;line-height: 36px;font-size: 32px;"><a href= =3D"https://substack.com/app-link/post?publication_id=3D451894&post_id=3D16= 1673627&utm_source=3Dpost-email-title&utm_campaign=3Demail-post-title&isFre= email=3Dtrue&r=3D3gfyvm&token=3DeyJ1c2VyX2lkIjoyMDkwMTc0MjYsInBvc3RfaWQiOjE= 2MTY3MzYyNywiaWF0IjoxNzQ1MjMzMzE1LCJleHAiOjE3NDc4MjUzMTUsImlzcyI6InB1Yi00NT= E4OTQiLCJzdWIiOiJwb3N0LXJlYWN0aW9uIn0.U3iCSd3igoeuUOLlymrUKZsomHuclnWvcVHSH= CfKym4" style=3D"color: rgb(54,55,55);text-decoration: none;">Dealflow LatA= m #30: Kavak raises $127M. Banorte acquires RappiCard. Alina bets $10M on t= he future of work.</a></h1><h3 class=3D"subtitle" style=3D"font-family: 'SF= Pro Display',-apple-system-headline,system-ui,-apple-system,BlinkMacSystem= Font,'Segoe UI',Roboto,Helvetica,Arial,sans-serif,'Apple Color Emoji','Sego= e UI Emoji','Segoe UI Symbol';font-weight: normal;-webkit-font-smoothing: a= ntialiased;-moz-osx-font-smoothing: antialiased;-webkit-appearance: optimiz= elegibility;-moz-appearance: optimizelegibility;appearance: optimizelegibil= ity;margin: 4px 0 0;color: #777777;line-height: 24px;font-size: 18px;margin= -top: 12px;">Welcome to the 30th edition of the Dealflow LatAm newsletter: = a weekly summary of everything that happened in the LatAm startup and inves= tment ecosystem.</h3><table class=3D"post-meta" role=3D"presentation" width= =3D"100%" border=3D"0" cellspacing=3D"0" cellpadding=3D"0" style=3D"margin:= 1em 0;height: 20px;align-items: center;"><tbody><tr><td><table role=3D"pre= sentation" width=3D"auto" border=3D"0" cellspacing=3D"0" cellpadding=3D"0">= <tbody><tr><td><table role=3D"presentation" width=3D"auto" border=3D"0" cel= lspacing=3D"0" cellpadding=3D"0"><tbody><tr><td style=3D"vertical-align:mid= dle;"><div class=3D"pencraft pc-reset color-primary-zABazT line-height-20-t= 4M0El font-meta-MWBumP size-11-NuY2Zx weight-medium-fw81nC transform-upperc= ase-yKDgcq reset-IxiVJZ meta-EgzBVA custom-css-email-post-author" style=3D"= list-style: none;font-size: 11px;line-height: 20px;text-decoration: unset;c= olor: rgb(54,55,55);margin: 0;font-family: 'SF Compact',-apple-system,syste= m-ui,-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,Helvetica,Arial,san= s-serif,'Apple Color Emoji','Segoe UI Emoji','Segoe UI Symbol';font-weight:= 500;text-transform: uppercase;letter-spacing: .2px;"><a class=3D"pencraft = pc-reset color-primary-zABazT line-height-20-t4M0El font-meta-MWBumP size-1= 1-NuY2Zx weight-medium-fw81nC transform-uppercase-yKDgcq reset-IxiVJZ meta-= EgzBVA" style=3D"list-style: none;color: rgb(54,55,55);margin: 0;font-size:= 11px;line-height: 20px;font-family: 'SF Compact',-apple-system,system-ui,-= apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,Helvetica,Arial,sans-seri= f,'Apple Color Emoji','Segoe UI Emoji','Segoe UI Symbol';font-weight: 500;t= ext-transform: uppercase;letter-spacing: .2px;text-decoration: none" href= =3D"https://substack.com/@yoelvna">Yoel Rodríguez</a></div></td></tr><= /tbody></table></td></tr><tr><td><table role=3D"presentation" width=3D"auto= " border=3D"0" cellspacing=3D"0" cellpadding=3D"0"><tbody><tr><td style=3D"= vertical-align:middle;"><div class=3D"pencraft pc-reset color-secondary-ls1= g8s line-height-20-t4M0El font-meta-MWBumP size-11-NuY2Zx weight-medium-fw8= 1nC transform-uppercase-yKDgcq reset-IxiVJZ meta-EgzBVA" style=3D"list-styl= e: none;font-size: 11px;line-height: 20px;text-decoration: unset;color: rgb= (119,119,119);margin: 0;font-family: 'SF Compact',-apple-system,system-ui,-= apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,Helvetica,Arial,sans-seri= f,'Apple Color Emoji','Segoe UI Emoji','Segoe UI Symbol';font-weight: 500;t= ext-transform: uppercase;letter-spacing: .2px;"><time datetime=3D"2025-04-2= 1T11:01:22.145Z">Apr 21</time></div></td></tr></tbody></table></td></tr></t= body></table></td><td align=3D"right"><table role=3D"presentation" width=3D= "auto" border=3D"0" cellspacing=3D"0" cellpadding=3D"0"><tbody><tr><td styl= e=3D"vertical-align:middle;"><a href=3D"https://substack.com/@yoelvna"><img= class=3D"custom-css-email-avatar avatar-QIQ5yR" src=3D"https://substackcdn= =2Ecom/image/fetch/f_auto,q_auto:good,f= l_progressive:steep/https%3A%2F%2Fsubs= tack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F9d5c1b08-86c4-4878-ac5= 5-9ecde91b6aac_144x144.png" style=3D"box-sizing: border-box;border-radius: = 500000px;max-width: 550px;border: none;vertical-align: middle;width: 40px;h= eight: 40px;min-width: 40px;min-height: 40px;object-fit: cover;margin: 0px;= display: inline" width=3D"40" 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ration: none;color: rgb(119,119,119);"><div class=3D"email-button-spacer" s= tyle=3D"font-size: 16px;line-height: 26px;display: inline-block;vertical-al= ign: middle;max-width: 0;min-height: 18px;"></div><span class=3D"email-butt= on-text" style=3D"vertical-align: middle;margin-right: 4px">READ IN APP</sp= an><img class=3D"icon text-icon" src=3D"https://substackcdn.com/image/fetch= /w_36,c_scale,f_png,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack= =2Ecom%2Ficon%2FLucideArrowUpRight%3Fv%= 3D4%26height%3D36%26fill%3Dnone%26stro= ke%3D%2523808080%26strokeWidth%3D2" width=3D"18" height=3D"18" style=3D"min= -width: 18px;min-height: 18px;border: none;vertical-align: middle;margin-ri= ght: 0;margin-left: 0;max-width: 18px" alt=3D""></a></td></tr></tbody></tab= le></td></tr></tbody></table></td></tr></tbody></table></td></tr><tr height= =3D"16"><td height=3D"16" style=3D"font-size:0px;line-height:0;"> </td= ></tr></tbody></table></div></div><div class=3D"post typography" dir=3D"aut= o" style=3D"padding: 32px 0 0 0;font-size: 16px;line-height: 26px;"><div cl= ass=3D"body markup" dir=3D"auto" style=3D"text-align: initial;font-size: 16= px;line-height: 26px;width: 100%;word-break: break-word;margin-bottom: 16px= ;font-family: 'SF Pro Display', -apple-system, system-ui, BlinkMacSystemFon= t, 'Inter', 'Segoe UI', Roboto, Helvetica, Arial, sans-serif, 'Apple Color = Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol';font-weight: 400;"><p style=3D"= margin: 0 0 20px 0;color: rgb(54,55,55);line-height: 26px;font-size: 16px;m= argin-top: 0;"><span>Hey, it’s </span><strong>Yoel</strong><span> = 28075; Back again with the 30th edition of </span><strong>Dealflow LatAm</s= trong><span>—your go-to source for all the deals, moves, and momentum= in the region’s startup scene.</span></p><p style=3D"margin: 0 0 20p= x 0;color: rgb(54,55,55);line-height: 26px;font-size: 16px;"><span>This wee= k was packed: </span><strong>🇲🇽 Kavak</strong><span> raised= $127M (and added $400M in credit lines) as it recalibrates its valuation. = </span><strong>🇨🇱 Toku</strong><span> pulled in $48M to sca= le automated payments, and </span><strong>🇧🇷 Onfly</strong>= <span> secured $40M to take AI-powered business travel global. Meanwhile, M= &A stayed hot with </span><strong>Banorte taking over RappiCard</strong= ><span> and </span><strong>ActiveCampaign snapping up Hilos</strong><span>.= On the fund side, </span><strong>🇦🇷 Alina VC</strong><span= > launched a $10M vehicle to back the future of work across LatAm.</span></= p><p style=3D"margin: 0 0 20px 0;color: rgb(54,55,55);line-height: 26px;fon= t-size: 16px;">Plenty to break down—so let’s get into it Ԇ= 40;</p><div class=3D"subscribe-widget is-signed-up is-fully-subscribed" dat= a-component-name=3D"SubscribeWidget" style=3D"margin: 0 0 1em;direction: lt= r;font-size: 16px;line-height: 26px;"><div class=3D"pencraft pc-reset butto= n-wrapper" style=3D"text-decoration: unset;list-style: none;font-size: 16px= ;line-height: 26px;text-align: center;cursor: pointer;border-radius: 4px;">= <a class=3D"button subscribe-btn outline" href=3D"https://substack.com/redi= rect/2/eyJlIjoiaHR0cHM6Ly9kZWFsZmxvd2xhdGFtLnN1YnN0YWNrLmNvbS9hY2NvdW50Iiwi= cCI6MTYxNjczNjI3LCJzIjo0NTE4OTQsImYiOnRydWUsInUiOjIwOTAxNzQyNiwiaWF0IjoxNzQ= 1MjMzMzE1LCJleHAiOjE3NDc4MjUzMTUsImlzcyI6InB1Yi0wIiwic3ViIjoibGluay1yZWRpcm= VjdCJ9.aJ8FOgzHysckfoUDJEy86IGEYw2PM0BltQrmn4oLBqw?" style=3D"font-family: = system-ui,-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,Helvetica,Aria= l,sans-serif,'Apple Color Emoji','Segoe UI Emoji','Segoe UI Symbol';display= : inline-block;box-sizing: border-box;cursor: pointer;border-radius: 8px;fo= nt-size: 14px;line-height: 20px;font-weight: 600;text-align: center;backgro= und-color: transparent;opacity: 1;outline: none;white-space: nowrap;text-de= coration: none !important;border: 1px solid #f1d3b6;margin: 0 auto;backgrou= nd: transparent;color: #f1d3b6;padding: 12px 20px;height: auto;"><img class= =3D"check-icon static" src=3D"https://substackcdn.com/image/fetch/w_40,c_sc= ale,f_png,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack.com%2Fico= n%2FLucideCheck%3Fv%3D4%26height%3D40%26fill%3Dtransparent%26stroke%3D%2523= f1d3b6%26strokeWidth%3D3.6" width=3D"20" height=3D"20" style=3D"border: non= e;vertical-align: middle;-ms-interpolation-mode: bicubic;height: auto;displ= ay: inline-block;margin: -2px 8px 0 0;max-width: 20px" alt=3D""><span style= =3D"text-decoration: none;">Subscribed</span></a></div></div><div style=3D"= font-size: 16px;line-height: 26px;"><hr style=3D"margin: 32px 0;padding: 0;= height: 1px;background: #e6e1dd;border: none;"></div><h1 class=3D"header-an= chor-post" style=3D"position: relative;--highlight-bg: rgba(var(--color-bg-= accent-themed-rgb), 0.2);font-family: 'SF Pro Display',-apple-system-headli= ne,system-ui,-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,Helvetica,A= rial,sans-serif,'Apple Color Emoji','Segoe UI Emoji','Segoe UI Symbol';font= -weight: bold;-webkit-font-smoothing: antialiased;-moz-osx-font-smoothing: = antialiased;-webkit-appearance: optimizelegibility;-moz-appearance: optimiz= elegibility;appearance: optimizelegibility;margin: 1em 0 0.625em 0;color: r= gb(54,55,55);line-height: 1.16em;font-size: 2em;">Startup funding news = ;💸</h1><h4 class=3D"header-anchor-post" style=3D"position: relative= ;--highlight-bg: rgba(var(--color-bg-accent-themed-rgb), 0.2);font-family: = 'SF Pro Display',-apple-system-headline,system-ui,-apple-system,BlinkMacSys= temFont,'Segoe UI',Roboto,Helvetica,Arial,sans-serif,'Apple Color Emoji','S= egoe UI Emoji','Segoe UI Symbol';font-weight: bold;-webkit-font-smoothing: = antialiased;-moz-osx-font-smoothing: antialiased;-webkit-appearance: optimi= zelegibility;-moz-appearance: optimizelegibility;appearance: optimizelegibi= lity;margin: 1em 0 0.625em 0;color: rgb(54,55,55);line-height: 1.16em;font-= size: 1.125em;"><strong>Rounds of $10M+:</strong></h4><ul style=3D"margin-t= op: 0;padding: 0;"><li style=3D"margin: 8px 0 0 32px;mso-special-format: bu= llet;"><p style=3D"color: rgb(54,55,55);line-height: 26px;margin-bottom: 0;= box-sizing: border-box;padding-left: 4px;font-size: 16px;margin: 0;"><span>= 🇲🇽 </span><strong>Kavak</strong><span> </span><a href=3D"ht= tps://substack.com/redirect/1eb1ee27-b43e-4429-a281-8e1fdc9595df?j=3DeyJ1Ij= oiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U" rel=3D"" style= =3D"color: rgb(54,55,55);text-decoration: underline;">raises</a><span> $127= M in a down round, cutting its valuation from $8.7B to $2.2B. The funding w= as co-led by </span><strong>SoftBank</strong><span> and </span><strong>Gene= ral Atlantic</strong><span> and includes $400M in credit lines from </span>= <strong>Goldman Sachs</strong><span> and </span><strong>HSBC</strong><span>= to strengthen its car financing arm, </span><strong>Kuna Capital</strong><= span>.</span></p></li><li style=3D"margin: 8px 0 0 32px;mso-special-format:= bullet;"><p style=3D"color: rgb(54,55,55);line-height: 26px;margin-bottom:= 0;box-sizing: border-box;padding-left: 4px;font-size: 16px;margin: 0;"><sp= an>🇨🇱 </span><strong>Toku</strong><span> </span><a href=3D"= https://substack.com/redirect/ecd31692-60d9-41bb-83ea-02ed30d06a6e?j=3DeyJ1= IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U" rel=3D"" style= =3D"color: rgb(54,55,55);text-decoration: underline;">raises</a><span> $48M= to expand its automated payment collection platform. The Series A was led = by </span><strong>Oak HC/FT</strong><span>, with backing from </span><stron= g>Gradient Ventures</strong><span>, </span><strong>F-Prime</strong><span>, = and others.</span></p></li><li style=3D"margin: 8px 0 0 32px;mso-special-fo= rmat: bullet;"><p style=3D"color: rgb(54,55,55);line-height: 26px;margin-bo= ttom: 0;box-sizing: border-box;padding-left: 4px;font-size: 16px;margin: 0;= "><span>🇧🇷 </span><strong>Onfly</strong><span> </span><a hr= ef=3D"https://substack.com/redirect/55caaa8e-48a9-4c95-9011-a236fd706a6a?j= =3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U" rel=3D"= " style=3D"color: rgb(54,55,55);text-decoration: underline;">raises</a><spa= n> $40M to scale its B2B travel and expense platform with AI and expand int= ernationally. The Series B round was led by </span><strong>Tidemark</strong= ><span>, with participation from </span><strong>Endeavor Catalyst</strong><= span> and </span><strong>Left Lane Capital</strong><span>.</span></p></li><= li style=3D"margin: 8px 0 0 32px;mso-special-format: bullet;"><p style=3D"c= olor: rgb(54,55,55);line-height: 26px;margin-bottom: 0;box-sizing: border-b= ox;padding-left: 4px;font-size: 16px;margin: 0;"><span>🇧🇷 <= /span><strong>Belvo</strong><span> </span><a href=3D"https://substack.com/r= edirect/17f0d36f-01ba-422d-a336-eaab9d9cd2e1?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uF= ObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U" rel=3D"" style=3D"color: rgb(54,55,5= 5);text-decoration: underline;">raises</a><span> $15M to boost AI-powered O= pen Finance tools. The round was led by </span><strong>Quona Capital</stron= g><span> and </span><strong>Kaszek</strong><span>.</span></p></li></ul><h4 = class=3D"header-anchor-post" style=3D"position: relative;--highlight-bg: rg= ba(var(--color-bg-accent-themed-rgb), 0.2);font-family: 'SF Pro Display',-a= pple-system-headline,system-ui,-apple-system,BlinkMacSystemFont,'Segoe UI',= Roboto,Helvetica,Arial,sans-serif,'Apple Color Emoji','Segoe UI Emoji','Seg= oe UI Symbol';font-weight: bold;-webkit-font-smoothing: antialiased;-moz-os= x-font-smoothing: antialiased;-webkit-appearance: optimizelegibility;-moz-a= ppearance: optimizelegibility;appearance: optimizelegibility;margin: 1em 0 = 0.625em 0;color: rgb(54,55,55);line-height: 1.16em;font-size: 1.125em;"><st= rong>Rounds $1M to $10M:</strong></h4><ul style=3D"margin-top: 0;padding: 0= ;"><li style=3D"margin: 8px 0 0 32px;mso-special-format: bullet;"><p style= =3D"color: rgb(54,55,55);line-height: 26px;margin-bottom: 0;box-sizing: bor= der-box;padding-left: 4px;font-size: 16px;margin: 0;"><span>🇨Ӻ= 76; </span><strong>Finaktiva</strong><span> </span><a href=3D"https://subst= ack.com/redirect/280170a2-6cc2-421a-bcd7-31b0a327e8f6?j=3DeyJ1IjoiM2dmeXZtI= n0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U" rel=3D"" style=3D"color: rg= b(54,55,55);text-decoration: underline;">raises</a><span> $10M to expand cr= edit and factoring services for SMEs. The round was financed by </span><str= ong>BBVA Spark</strong><span> to boost liquidity and support its internatio= nal expansion.</span></p></li><li style=3D"margin: 8px 0 0 32px;mso-special= -format: bullet;"><p style=3D"color: rgb(54,55,55);line-height: 26px;margin= -bottom: 0;box-sizing: border-box;padding-left: 4px;font-size: 16px;margin:= 0;"><span>🇧🇷 </span><strong>Confi</strong><span> </span><a= href=3D"https://substack.com/redirect/51fbed6e-b47d-4e45-8168-c0e797822bff= ?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U" rel= =3D"" style=3D"color: rgb(54,55,55);text-decoration: underline;">raises</a>= <span> $4M led by </span><strong>Pedro Chiamulera</strong><span> to boost i= ts retail data platform. Funds will enhance insights and integration for op= timizing sales.</span></p></li><li style=3D"margin: 8px 0 0 32px;mso-specia= l-format: bullet;"><p style=3D"color: rgb(54,55,55);line-height: 26px;margi= n-bottom: 0;box-sizing: border-box;padding-left: 4px;font-size: 16px;margin= : 0;"><span>🇧🇷 </span><strong>Altis</strong><span> </span><= a href=3D"https://substack.com/redirect/c4ac4c33-8a9c-4d98-8351-c931836651f= 4?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U" rel= =3D"" style=3D"color: rgb(54,55,55);text-decoration: underline;">raises</a>= <span> $3M to launch its credit infrastructure platform. The round supports= the fintech's entry into the market and includes founders from </span><str= ong>Kavak</strong><span>, </span><strong>Mercado Livre</strong><span>, and = </span><strong>Creditas</strong><span>.</span></p></li><li style=3D"margin:= 8px 0 0 32px;mso-special-format: bullet;"><p style=3D"color: rgb(54,55,55)= ;line-height: 26px;margin-bottom: 0;box-sizing: border-box;padding-left: 4p= x;font-size: 16px;margin: 0;"><span>🇲🇽 </span><strong>Nufi<= /strong><span> </span><a href=3D"https://substack.com/redirect/7f5fc9a9-7d1= a-41da-9def-9ef2f3d5f7c5?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_j= CfgM3m0rbAsF0l24U" rel=3D"" style=3D"color: rgb(54,55,55);text-decoration: = underline;">raises</a><span> $1.5M to expand identity verification tech. Th= e seed round was led by </span><strong>GPCompas</strong><span> and </span><= strong>Magma Partners</strong><span>.</span></p></li><li style=3D"margin: 8= px 0 0 32px;mso-special-format: bullet;"><p style=3D"color: rgb(54,55,55);l= ine-height: 26px;margin-bottom: 0;box-sizing: border-box;padding-left: 4px;= font-size: 16px;margin: 0;"><span>🇦🇷 </span><strong>Lazo</s= trong><span>, a legal-fintech SaaS, </span><a href=3D"https://substack.com/= redirect/29ab4ca7-3781-4e36-b6e6-1c511ba5cfb9?j=3DeyJ1IjoiM2dmeXZtIn0.xu76u= FObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U" rel=3D"" style=3D"color: rgb(54,55,= 55);text-decoration: underline;">raises</a><span> $1M from </span><strong>A= lleyCorp</strong><span> after winning the </span><strong>PeerLess Pitch Com= petition</strong><span> in New York. The funds will fuel product developmen= t and client growth.</span></p></li><li style=3D"margin: 8px 0 0 32px;mso-s= pecial-format: bullet;"><p style=3D"color: rgb(54,55,55);line-height: 26px;= margin-bottom: 0;box-sizing: border-box;padding-left: 4px;font-size: 16px;m= argin: 0;"><span>🇲🇽🤝🇦🇷 </span><stro= ng>Arca Continental</strong><span> </span><a href=3D"https://substack.com/r= edirect/5c44fbf3-8a99-4974-8078-05a606eac7c5?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uF= ObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U" rel=3D"" style=3D"color: rgb(54,55,5= 5);text-decoration: underline;">invests</a><span> in $1M seed round of AI s= tartup </span><strong>Sensify</strong><span> to optimize cooler monitoring = and product display. The deal, via </span><strong>AC Ventures</strong><span= >, aims to boost retail efficiency and drive innovation across LatAm.</span= ></p></li></ul><h4 class=3D"header-anchor-post" style=3D"position: relative= ;--highlight-bg: rgba(var(--color-bg-accent-themed-rgb), 0.2);font-family: = 'SF Pro Display',-apple-system-headline,system-ui,-apple-system,BlinkMacSys= temFont,'Segoe UI',Roboto,Helvetica,Arial,sans-serif,'Apple Color Emoji','S= egoe UI Emoji','Segoe UI Symbol';font-weight: bold;-webkit-font-smoothing: = antialiased;-moz-osx-font-smoothing: antialiased;-webkit-appearance: optimi= zelegibility;-moz-appearance: optimizelegibility;appearance: optimizelegibi= lity;margin: 1em 0 0.625em 0;color: rgb(54,55,55);line-height: 1.16em;font-= size: 1.125em;"><strong>Other rounds of funding:</strong></h4><ul style=3D"= margin-top: 0;padding: 0;"><li style=3D"margin: 8px 0 0 32px;mso-special-fo= rmat: bullet;"><p style=3D"color: rgb(54,55,55);line-height: 26px;margin-bo= ttom: 0;box-sizing: border-box;padding-left: 4px;font-size: 16px;margin: 0;= "><span>🇨🇱 </span><strong>AdmiralONE</strong><span> </span>= <a href=3D"https://substack.com/redirect/071b9a66-1267-41d2-8505-538b0e2f32= e6?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U" rel= =3D"" style=3D"color: rgb(54,55,55);text-decoration: underline;">raises</a>= <span> $462K to grow its RegTech platform. Funds supported acquiring </span= ><strong>Confiden</strong><span> and </span><strong>GeniaControl</strong><s= pan>, and adding a new co-founder CTO.</span></p></li></ul><h1 class=3D"hea= der-anchor-post" style=3D"position: relative;--highlight-bg: rgba(var(--col= or-bg-accent-themed-rgb), 0.2);font-family: 'SF Pro Display',-apple-system-= headline,system-ui,-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,Helve= tica,Arial,sans-serif,'Apple Color Emoji','Segoe UI Emoji','Segoe UI Symbol= ';font-weight: bold;-webkit-font-smoothing: antialiased;-moz-osx-font-smoot= hing: antialiased;-webkit-appearance: optimizelegibility;-moz-appearance: o= ptimizelegibility;appearance: optimizelegibility;margin: 1em 0 0.625em 0;co= lor: rgb(54,55,55);line-height: 1.16em;font-size: 2em;">M&A transaction= s 🎊</h1><ul style=3D"margin-top: 0;padding: 0;"><li style=3D"margin= : 8px 0 0 32px;mso-special-format: bullet;"><p style=3D"color: rgb(54,55,55= );line-height: 26px;margin-bottom: 0;box-sizing: border-box;padding-left: 4= px;font-size: 16px;margin: 0;"><span>🇲🇽 </span><strong>Bano= rte</strong><span> </span><a href=3D"https://substack.com/redirect/7d5cc315= -4436-4978-bcc4-f1d85e617d10?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN= 48_jCfgM3m0rbAsF0l24U" rel=3D"" style=3D"color: rgb(54,55,55);text-decorati= on: underline;">acquires</a><span> full ownership of </span><strong>RappiCa= rd</strong><span> for $50M. The deal gives Banorte 100% of </span><strong>T= arjetas del Futuro</strong><span>, strengthening its digital strategy and e= xclusive financial offerings within the Rappi ecosystem.</span></p></li><li= style=3D"margin: 8px 0 0 32px;mso-special-format: bullet;"><p style=3D"col= or: rgb(54,55,55);line-height: 26px;margin-bottom: 0;box-sizing: border-box= ;padding-left: 4px;font-size: 16px;margin: 0;"><span>🇲🇽 </s= pan><strong>Hilos</strong><span>, a Mexico-based WhatsApp automation platfo= rm, </span><a href=3D"https://substack.com/redirect/f7fbf130-3297-4891-8653= -05886eae3910?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAs= F0l24U" rel=3D"" style=3D"color: rgb(54,55,55);text-decoration: underline;"= >is acquired</a><span> by </span><strong>ActiveCampaign</strong><span> to e= nhance its cross-channel marketing capabilities with native WhatsApp integr= ations.</span></p></li></ul><ul style=3D"margin-top: 0;padding: 0;"><li sty= le=3D"margin: 8px 0 0 32px;mso-special-format: bullet;"><p style=3D"color: = rgb(54,55,55);line-height: 26px;margin-bottom: 0;box-sizing: border-box;pad= ding-left: 4px;font-size: 16px;margin: 0;"><span>🇨🇱 </span>= <strong>Achilles</strong><span> </span><a href=3D"https://substack.com/redi= rect/7b73d9af-3046-4f56-8e03-31b781273f63?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObq= ArDfP822j-jnN48_jCfgM3m0rbAsF0l24U" rel=3D"" style=3D"color: rgb(54,55,55);= text-decoration: underline;">acquires</a><span> </span><strong>InfoControl<= /strong><span> to boost global risk management with AI. The deal enhances A= chilles’ platform with automated contractor assessments and advanced = document processing, expanding its presence in LatAm.</span></p></li><li st= yle=3D"margin: 8px 0 0 32px;mso-special-format: bullet;"><p style=3D"color:= rgb(54,55,55);line-height: 26px;margin-bottom: 0;box-sizing: border-box;pa= dding-left: 4px;font-size: 16px;margin: 0;"><span>🇨🇱 </span= ><strong>Lineup</strong><span> </span><a href=3D"https://substack.com/redir= ect/b2460c21-fc5c-411f-b2e1-d445b2cf3f11?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqA= rDfP822j-jnN48_jCfgM3m0rbAsF0l24U" rel=3D"" style=3D"color: rgb(54,55,55);t= ext-decoration: underline;">acquires</a><span> </span><strong>Buscaolas</st= rong><span> to expand its surf-focused live cam network in Chile, integrati= ng its assets and community. This marks its second LatAm acquisition after = Argentina's </span><strong>Freewaves</strong><span>.</span></p></li><li sty= le=3D"margin: 8px 0 0 32px;mso-special-format: bullet;"><p style=3D"color: = rgb(54,55,55);line-height: 26px;margin-bottom: 0;box-sizing: border-box;pad= ding-left: 4px;font-size: 16px;margin: 0;"><span>🇧🇷 </span>= <strong>Mevo</strong><span> </span><a href=3D"https://substack.com/redirect= /47b1137b-160a-430a-bfc6-83cf8930df2e?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDf= P822j-jnN48_jCfgM3m0rbAsF0l24U" rel=3D"" style=3D"color: rgb(54,55,55);text= -decoration: underline;">acquires</a><span> </span><strong>Receita Digital<= /strong><span> to expand its digital prescription platform. The move streng= thens Mevo’s position in Brazil’s healthtech sector and grows i= ts base of prescribing professionals.</span></p></li><li style=3D"margin: 8= px 0 0 32px;mso-special-format: bullet;"><p style=3D"color: rgb(54,55,55);l= ine-height: 26px;margin-bottom: 0;box-sizing: border-box;padding-left: 4px;= font-size: 16px;margin: 0;"><span>🇧🇷 </span><strong>Dock</s= trong><span> </span><a href=3D"https://substack.com/redirect/1dbcc506-650d-= 4319-b4ff-53479a95aa01?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCf= gM3m0rbAsF0l24U" rel=3D"" style=3D"color: rgb(54,55,55);text-decoration: un= derline;">acquires</a><span> </span><strong>DM SCD</strong><span> to enter = the credit market. The deal, pending regulatory approval, enables the finte= ch to offer lending and credit analysis services.</span></p></li></ul><h1 c= lass=3D"header-anchor-post" style=3D"position: relative;--highlight-bg: rgb= a(var(--color-bg-accent-themed-rgb), 0.2);font-family: 'SF Pro Display',-ap= ple-system-headline,system-ui,-apple-system,BlinkMacSystemFont,'Segoe UI',R= oboto,Helvetica,Arial,sans-serif,'Apple Color Emoji','Segoe UI Emoji','Sego= e UI Symbol';font-weight: bold;-webkit-font-smoothing: antialiased;-moz-osx= -font-smoothing: antialiased;-webkit-appearance: optimizelegibility;-moz-ap= pearance: optimizelegibility;appearance: optimizelegibility;margin: 1em 0 0= =2E625em 0;color: rgb(54,55,55);line-he= ight: 1.16em;font-size: 2em;">Investor= & accelerator news 🚀</h1><p style=3D"margin: 0 0 20px 0;color:= rgb(54,55,55);line-height: 26px;font-size: 16px;"><span>🇦🇷= </span><strong>Alina VC</strong><span> </span><a href=3D"https://substack.= com/redirect/011e5a69-bceb-40cb-8d2f-7eed4f901a04?j=3DeyJ1IjoiM2dmeXZtIn0.x= u76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U" rel=3D"" style=3D"color: rgb(54= ,55,55);text-decoration: underline;">launches</a><span> $10M </span><strong= >Fund I</strong><span> focused on the Future of Work. The sector-specific V= C fund, advised by </span><strong>TCA Tanoira Cassagne</strong><span>, targ= ets early-stage startups in HRTech, gig economy, and AI across LatAm.</span= ></p><p style=3D"margin: 0 0 20px 0;color: rgb(54,55,55);line-height: 26px;= font-size: 16px;"><span>🇦🇷 </span><strong>Build Latam</stro= ng><span> </span><a href=3D"https://substack.com/redirect/b3ad11dc-9d52-469= 9-a2d5-0d4ce5c8da50?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3= m0rbAsF0l24U" rel=3D"" style=3D"color: rgb(54,55,55);text-decoration: under= line;">launches</a><span> $1M </span><strong>Web3</strong><span> grants pro= gram in Córdoba to fund 15 startups using </span><strong>World ID</str= ong><span> tech for payments, social benefits, and digital identity. Backed= by </span><strong>World</strong><span>, </span><strong>Alaya Capital</stro= ng><span>, and </span><strong>Kalei Ventures</strong><span>.</span></p><p s= tyle=3D"margin: 0 0 20px 0;color: rgb(54,55,55);line-height: 26px;font-size= : 16px;"><span>🇨🇱 </span><strong>Corfo</strong><span> </spa= n><a href=3D"https://substack.com/redirect/96b308ce-268b-4ada-9f4a-83d86157= 8658?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U" r= el=3D"" style=3D"color: rgb(54,55,55);text-decoration: underline;">has inve= sted</a><span> over $1.06B in VC support since 1998, funding 72 funds and 4= 97 startups—73% micro or small. In 2024, it launched new funds with a= focus on gender and decarbonization.</span></p><p style=3D"margin: 0 0 20p= x 0;color: rgb(54,55,55);line-height: 26px;font-size: 16px;"><span>🇨= ;🇱 </span><strong>Startup Biobío</strong><span> </span><a href= =3D"https://substack.com/redirect/7bc041e0-2939-4cea-856c-d20a22cbc391?j=3D= eyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U" rel=3D"" s= tyle=3D"color: rgb(54,55,55);text-decoration: underline;">hosted</a><span> = a vibrant Pitch Day during MadeInnConce, selecting 3 finalists—</span= ><strong>Calory Bricks</strong><span>, </span><strong>Soacili Plus</strong>= <span>, and </span><strong>Califix Compliance</strong><span>. The event hig= hlighted innovation from southern Chile and selected 30 startups for its in= ternationalization program.</span></p><p style=3D"margin: 0 0 20px 0;color:= rgb(54,55,55);line-height: 26px;font-size: 16px;"><span>🇨🇱= </span><strong>Activa, Transforma e Innova</strong><span> </span><a href= =3D"https://substack.com/redirect/d3d39ec7-68b5-4a2f-9f3d-4bf848cbdb40?j=3D= eyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U" rel=3D"" s= tyle=3D"color: rgb(54,55,55);text-decoration: underline;">supports</a><span= > 40 women-led startups in Antofagasta with tech and sustainability trainin= g, backed by </span><strong>Origo Lab</strong><span> and </span><strong>Cor= fo</strong><span>.</span></p><p style=3D"margin: 0 0 20px 0;color: rgb(54,5= 5,55);line-height: 26px;font-size: 16px;"><span>🇨🇴 </span><= strong>Ruta N</strong><span> and </span><strong>Bancóldex</strong><spa= n> </span><a href=3D"https://substack.com/redirect/1d403bad-41cd-43e7-8dc8-= 8989026084ac?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF= 0l24U" rel=3D"" style=3D"color: rgb(54,55,55);text-decoration: underline;">= invest</a><span> $3.5M to boost Medellín’s fintech ecosystem. Fu= nds will support early-stage startups through </span><strong>Fondo Simma Fi= ntech +</strong><span>, aiming to finance 30 ventures and launch a new fund= -of-funds by August 2025.</span></p><h4 class=3D"header-anchor-post" style= =3D"position: relative;--highlight-bg: rgba(var(--color-bg-accent-themed-rg= b), 0.2);font-family: 'SF Pro Display',-apple-system-headline,system-ui,-ap= ple-system,BlinkMacSystemFont,'Segoe UI',Roboto,Helvetica,Arial,sans-serif,= 'Apple Color Emoji','Segoe UI Emoji','Segoe UI Symbol';font-weight: bold;-w= ebkit-font-smoothing: antialiased;-moz-osx-font-smoothing: antialiased;-web= kit-appearance: optimizelegibility;-moz-appearance: optimizelegibility;appe= arance: optimizelegibility;margin: 1em 0 0.625em 0;color: rgb(54,55,55);lin= e-height: 1.16em;font-size: 1.125em;">Opportunities & Deadlines ㈆= 4;</h4><ul style=3D"margin-top: 0;padding: 0;"><li style=3D"margin: 8px 0 0= 32px;mso-special-format: bullet;"><p style=3D"color: rgb(54,55,55);line-he= ight: 26px;margin-bottom: 0;box-sizing: border-box;padding-left: 4px;font-s= ize: 16px;margin: 0;"><span>🇵🇷 </span><strong>Parallel18</s= trong><span> </span><a href=3D"https://substack.com/redirect/6fec4090-04f9-= 4822-aaea-6241e99c7b14?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCf= gM3m0rbAsF0l24U" rel=3D"" style=3D"color: rgb(54,55,55);text-decoration: un= derline;">launches</a><span> its 13th global startup cohort offering $40K, = mentorship, and a 20-week accelerator in Puerto Rico. Applications are open= until </span><strong>April 25</strong><span>.</span></p></li><li style=3D"= margin: 8px 0 0 32px;mso-special-format: bullet;"><p style=3D"color: rgb(54= ,55,55);line-height: 26px;margin-bottom: 0;box-sizing: border-box;padding-l= eft: 4px;font-size: 16px;margin: 0;"><span>🇦🇷 </span><stron= g>UNCUYO</strong><span> and </span><strong>Fundación Blockchain</stron= g><span> </span><a href=3D"https://substack.com/redirect/ae2c1878-a9d0-4940= -9ac8-972e0d255b93?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m= 0rbAsF0l24U" rel=3D"" style=3D"color: rgb(54,55,55);text-decoration: underl= ine;">launch</a><span> a Web3 incubator with a 10-week virtual program. App= lications are open until </span><strong>April 28</strong><span>.</span></p>= </li><li style=3D"margin: 8px 0 0 32px;mso-special-format: bullet;"><p styl= e=3D"color: rgb(54,55,55);line-height: 26px;margin-bottom: 0;box-sizing: bo= rder-box;padding-left: 4px;font-size: 16px;margin: 0;"><span>🇧= 479; </span><strong>Sebrae</strong><span> </span><a href=3D"https://substac= k.com/redirect/c63361c7-5f68-4789-b761-79fb4e001f0e?j=3DeyJ1IjoiM2dmeXZtIn0= =2Exu76uFObqArDfP822j-jnN48_jCfgM3m0r= bAsF0l24U" rel=3D"" style=3D"color: rgb(= 54,55,55);text-decoration: underline;">opens</a><span> applications for the= </span><strong>BRICS Women’s Startups Contest</strong><span> to high= light women-led ventures across six categories. Startups can apply until </= span><strong>May 4</strong><span>.</span></p></li><li style=3D"margin: 8px = 0 0 32px;mso-special-format: bullet;"><p style=3D"color: rgb(54,55,55);line= -height: 26px;margin-bottom: 0;box-sizing: border-box;padding-left: 4px;fon= t-size: 16px;margin: 0;"><span>🇧🇸🌍 </span><strong>C= aribbean Venture Collective</strong><span> </span><a href=3D"https://substa= ck.com/redirect/55b4d0de-3f4d-4137-8c70-c048d3836f39?j=3DeyJ1IjoiM2dmeXZtIn= 0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U" rel=3D"" style=3D"color: rgb= (54,55,55);text-decoration: underline;">launches</a><span> to back founders= with Caribbean ties. Founded by </span><strong>Techstars</strong><span> al= umni, it offers an equity-free fellowship and investor access, with applica= tions open until </span><strong>June 16</strong><span>.</span></p></li><li = style=3D"margin: 8px 0 0 32px;mso-special-format: bullet;"><p style=3D"colo= r: rgb(54,55,55);line-height: 26px;margin-bottom: 0;box-sizing: border-box;= padding-left: 4px;font-size: 16px;margin: 0;"><span>🇨🇱 </sp= an><strong>Endeavor</strong><span> </span><a href=3D"https://substack.com/r= edirect/9b1ef607-fa70-4305-8a41-ae69cbc9bce5?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uF= ObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U" rel=3D"" style=3D"color: rgb(54,55,5= 5);text-decoration: underline;">launches</a><span> the second edition of </= span><strong>Scale Up</strong><span> in Chile to accelerate 13 growth-stage= startups with mentorship and global expansion support.</span></p></li></ul= ><h1 class=3D"header-anchor-post" style=3D"position: relative;--highlight-b= g: rgba(var(--color-bg-accent-themed-rgb), 0.2);font-family: 'SF Pro Displa= y',-apple-system-headline,system-ui,-apple-system,BlinkMacSystemFont,'Segoe= UI',Roboto,Helvetica,Arial,sans-serif,'Apple Color Emoji','Segoe UI Emoji'= ,'Segoe UI Symbol';font-weight: bold;-webkit-font-smoothing: antialiased;-m= oz-osx-font-smoothing: antialiased;-webkit-appearance: optimizelegibility;-= moz-appearance: optimizelegibility;appearance: optimizelegibility;margin: 1= em 0 0.625em 0;color: rgb(54,55,55);line-height: 1.16em;font-size: 2em;">St= artup news 💡</h1><h4 class=3D"header-anchor-post" style=3D"position= : relative;--highlight-bg: rgba(var(--color-bg-accent-themed-rgb), 0.2);fon= t-family: 'SF Pro Display',-apple-system-headline,system-ui,-apple-system,B= linkMacSystemFont,'Segoe UI',Roboto,Helvetica,Arial,sans-serif,'Apple Color= Emoji','Segoe UI Emoji','Segoe UI Symbol';font-weight: bold;-webkit-font-s= moothing: antialiased;-moz-osx-font-smoothing: antialiased;-webkit-appearan= ce: optimizelegibility;-moz-appearance: optimizelegibility;appearance: opti= mizelegibility;margin: 1em 0 0.625em 0;color: rgb(54,55,55);line-height: 1.= 16em;font-size: 1.125em;">🇦🇷 Argentina</h4><ul style=3D"mar= gin-top: 0;padding: 0;"><li style=3D"margin: 8px 0 0 32px;mso-special-forma= t: bullet;"><p style=3D"color: rgb(54,55,55);line-height: 26px;margin-botto= m: 0;box-sizing: border-box;padding-left: 4px;font-size: 16px;margin: 0;"><= span>🇦🇷 </span><strong>Kripton</strong><span> </span><a hre= f=3D"https://substack.com/redirect/86849425-2ed1-4a41-94cd-435874d60fe7?j= =3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U" rel=3D"= " style=3D"color: rgb(54,55,55);text-decoration: underline;">partners</a><s= pan> with </span><strong>TRON DAO</strong><span> and </span><strong>Tether<= /strong><span> to enable USDT payments and microloans for 2,000+ merchants = in Argentina, boosting financial inclusion.</span></p></li></ul><h4 class= =3D"header-anchor-post" style=3D"position: relative;--highlight-bg: rgba(va= r(--color-bg-accent-themed-rgb), 0.2);font-family: 'SF Pro Display',-apple-= system-headline,system-ui,-apple-system,BlinkMacSystemFont,'Segoe UI',Robot= o,Helvetica,Arial,sans-serif,'Apple Color Emoji','Segoe UI Emoji','Segoe UI= Symbol';font-weight: bold;-webkit-font-smoothing: antialiased;-moz-osx-fon= t-smoothing: antialiased;-webkit-appearance: optimizelegibility;-moz-appear= ance: optimizelegibility;appearance: optimizelegibility;margin: 1em 0 0.625= em 0;color: rgb(54,55,55);line-height: 1.16em;font-size: 1.125em;">🇧= ;🇷 Brazil</h4><ul style=3D"margin-top: 0;padding: 0;"><li style=3D"= margin: 8px 0 0 32px;mso-special-format: bullet;"><p style=3D"color: rgb(54= ,55,55);line-height: 26px;margin-bottom: 0;box-sizing: border-box;padding-l= eft: 4px;font-size: 16px;margin: 0;"><span>🇧🇷 </span><stron= g>99Food</strong><span> </span><a href=3D"https://substack.com/redirect/d3e= 9ee23-f729-4801-9ec7-d4a5079b895d?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822= j-jnN48_jCfgM3m0rbAsF0l24U" rel=3D"" style=3D"color: rgb(54,55,55);text-dec= oration: underline;">to relaunch</a><span> in Brazil with a $172M investmen= t from </span><strong>Didi</strong><span>. The funds aim to revive its food= delivery service, expand into personal finance, and compete with </span><s= trong>iFood</strong><span>.</span></p></li><li style=3D"margin: 8px 0 0 32p= x;mso-special-format: bullet;"><p style=3D"color: rgb(54,55,55);line-height= : 26px;margin-bottom: 0;box-sizing: border-box;padding-left: 4px;font-size:= 16px;margin: 0;"><span>🇧🇷 </span><strong>Mottu</strong><sp= an> </span><a href=3D"https://substack.com/redirect/0b6b193f-1e61-4250-98d4= -a36e16add35f?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAs= F0l24U" rel=3D"" style=3D"color: rgb(54,55,55);text-decoration: underline;"= >hits</a><span> $200M in revenue with 100K+ rentals, empowering gig workers= in Brazil and Mexico through affordable mobility.</span></p></li><li style= =3D"margin: 8px 0 0 32px;mso-special-format: bullet;"><p style=3D"color: rg= b(54,55,55);line-height: 26px;margin-bottom: 0;box-sizing: border-box;paddi= ng-left: 4px;font-size: 16px;margin: 0;"><span>🇧🇷 </span><s= trong>Nexoos</strong><span> </span><a href=3D"https://substack.com/redirect= /8156f8fb-7f4f-42fa-a714-d15d20b31089?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDf= P822j-jnN48_jCfgM3m0rbAsF0l24U" rel=3D"" style=3D"color: rgb(54,55,55);text= -decoration: underline;">regains</a><span> independence from </span><strong= >Ame Digital</strong><span> after 4 years and will focus on scaling its Cre= dit as a Service platform.</span></p></li></ul><h4 class=3D"header-anchor-p= ost" style=3D"position: relative;--highlight-bg: rgba(var(--color-bg-accent= -themed-rgb), 0.2);font-family: 'SF Pro Display',-apple-system-headline,sys= tem-ui,-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,Helvetica,Arial,s= ans-serif,'Apple Color Emoji','Segoe UI Emoji','Segoe UI Symbol';font-weigh= t: bold;-webkit-font-smoothing: antialiased;-moz-osx-font-smoothing: antial= iased;-webkit-appearance: optimizelegibility;-moz-appearance: optimizelegib= ility;appearance: optimizelegibility;margin: 1em 0 0.625em 0;color: rgb(54,= 55,55);line-height: 1.16em;font-size: 1.125em;">🇨🇱 Chile</h= 4><ul style=3D"margin-top: 0;padding: 0;"><li style=3D"margin: 8px 0 0 32px= ;mso-special-format: bullet;"><p style=3D"color: rgb(54,55,55);line-height:= 26px;margin-bottom: 0;box-sizing: border-box;padding-left: 4px;font-size: = 16px;margin: 0;"><span>🇨🇱 </span><strong>NotCo</strong><spa= n> </span><a href=3D"https://substack.com/redirect/0dcf86eb-71d4-4ce4-ac1f-= 955e9f61fa70?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF= 0l24U" rel=3D"" style=3D"color: rgb(54,55,55);text-decoration: underline;">= launches</a><span> </span><strong>NotCo Tech</strong><span> to expand its A= I-powered B2B foodtech platform across North America, Europe, and LatAm.</s= pan></p></li><li style=3D"margin: 8px 0 0 32px;mso-special-format: bullet;"= ><p style=3D"color: rgb(54,55,55);line-height: 26px;margin-bottom: 0;box-si= zing: border-box;padding-left: 4px;font-size: 16px;margin: 0;"><span>Ӻ= 64;🇱 </span><strong>Mercado Pago</strong><span> </span><a href=3D"h= ttps://substack.com/redirect/c111ec27-47da-4c4c-a05c-475fd99a63a0?j=3DeyJ1I= joiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U" rel=3D"" style= =3D"color: rgb(54,55,55);text-decoration: underline;">launches</a><span> </= span><strong>Meli Dólar</strong><span>, a USD-pegged stablecoin in Chi= le, enabling users to save and invest via its app.</span></p></li><li style= =3D"margin: 8px 0 0 32px;mso-special-format: bullet;"><p style=3D"color: rg= b(54,55,55);line-height: 26px;margin-bottom: 0;box-sizing: border-box;paddi= ng-left: 4px;font-size: 16px;margin: 0;"><span>🇨🇱 </span><s= trong>KLog.co</strong><span> </span><a href=3D"https://substack.com/redirec= t/88a1a8b8-306d-42ac-ae1e-a1f4c1bdce56?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArD= fP822j-jnN48_jCfgM3m0rbAsF0l24U" rel=3D"" style=3D"color: rgb(54,55,55);tex= t-decoration: underline;">featured</a><span> in a </span><strong>Harvard Bu= siness School</strong><span> case study for transforming LatAm logistics th= rough tech. The Chilean startup serves 5,000+ clients and plans to expand f= rom its new HQ in Mexico.</span></p></li><li style=3D"margin: 8px 0 0 32px;= mso-special-format: bullet;"><p style=3D"color: rgb(54,55,55);line-height: = 26px;margin-bottom: 0;box-sizing: border-box;padding-left: 4px;font-size: 1= 6px;margin: 0;"><span>🇨🇱 </span><strong>EY Chile</strong><s= pan> </span><a href=3D"https://substack.com/redirect/a85f80b2-6518-4216-b59= d-66eee0c66a07?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbA= sF0l24U" rel=3D"" style=3D"color: rgb(54,55,55);text-decoration: underline;= ">partners</a><span> with </span><strong>Buk</strong><span> to enhance its = payroll services. The alliance combines EY’s expertise with Buk’= ;s tech to offer a secure, automated, and compliant HR solution.</span></p>= </li></ul><h4 class=3D"header-anchor-post" style=3D"position: relative;--hi= ghlight-bg: rgba(var(--color-bg-accent-themed-rgb), 0.2);font-family: 'SF P= ro Display',-apple-system-headline,system-ui,-apple-system,BlinkMacSystemFo= nt,'Segoe UI',Roboto,Helvetica,Arial,sans-serif,'Apple Color Emoji','Segoe = UI Emoji','Segoe UI Symbol';font-weight: bold;-webkit-font-smoothing: antia= liased;-moz-osx-font-smoothing: antialiased;-webkit-appearance: optimizeleg= ibility;-moz-appearance: optimizelegibility;appearance: optimizelegibility;= margin: 1em 0 0.625em 0;color: rgb(54,55,55);line-height: 1.16em;font-size:= 1.125em;">🇨🇴 Colombia</h4><ul style=3D"margin-top: 0;paddi= ng: 0;"><li style=3D"margin: 8px 0 0 32px;mso-special-format: bullet;"><p s= tyle=3D"color: rgb(54,55,55);line-height: 26px;margin-bottom: 0;box-sizing:= border-box;padding-left: 4px;font-size: 16px;margin: 0;"><span>🇨&#= 127476; </span><strong>Sebastián Mejía</strong><span> </span><a h= ref=3D"https://substack.com/redirect/e8f4ab57-b666-4053-90d0-249b61ecd8b7?j= =3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U" rel=3D"= " style=3D"color: rgb(54,55,55);text-decoration: underline;">steps down</a>= <span> as president of </span><strong>Rappi</strong><span>, remaining on th= e board. He leaves daily operations to pursue new ventures reflecting his p= ersonal evolution.</span></p></li></ul><h4 class=3D"header-anchor-post" sty= le=3D"position: relative;--highlight-bg: rgba(var(--color-bg-accent-themed-= rgb), 0.2);font-family: 'SF Pro Display',-apple-system-headline,system-ui,-= apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,Helvetica,Arial,sans-seri= f,'Apple Color Emoji','Segoe UI Emoji','Segoe UI Symbol';font-weight: bold;= -webkit-font-smoothing: antialiased;-moz-osx-font-smoothing: antialiased;-w= ebkit-appearance: optimizelegibility;-moz-appearance: optimizelegibility;ap= pearance: optimizelegibility;margin: 1em 0 0.625em 0;color: rgb(54,55,55);l= ine-height: 1.16em;font-size: 1.125em;">🇲🇽 Mexico</h4><ul s= tyle=3D"margin-top: 0;padding: 0;"><li style=3D"margin: 8px 0 0 32px;mso-sp= ecial-format: bullet;"><p style=3D"color: rgb(54,55,55);line-height: 26px;m= argin-bottom: 0;box-sizing: border-box;padding-left: 4px;font-size: 16px;ma= rgin: 0;"><span>🇲🇽 </span><strong>Finsus</strong><span> </s= pan><a href=3D"https://substack.com/redirect/7f537ec0-30ea-4e81-80eb-6450c0= a077bb?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U"= rel=3D"" style=3D"color: rgb(54,55,55);text-decoration: underline;">expand= s to</a><span> the U.S. with remittance services and plans a capital raise = ahead of a potential IPO.</span></p></li><li style=3D"margin: 8px 0 0 32px;= mso-special-format: bullet;"><p style=3D"color: rgb(54,55,55);line-height: = 26px;margin-bottom: 0;box-sizing: border-box;padding-left: 4px;font-size: 1= 6px;margin: 0;"><span>🇲🇽 </span><strong>Nu México</str= ong><span> </span><a href=3D"https://substack.com/redirect/5714a3ab-2eab-47= 75-aab0-adbae75497ae?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM= 3m0rbAsF0l24U" rel=3D"" style=3D"color: rgb(54,55,55);text-decoration: unde= rline;">receives</a><span> approval from the CNBV to become a bank, aiming = to compete with major players and expand its financial services.</span></p>= </li><li style=3D"margin: 8px 0 0 32px;mso-special-format: bullet;"><p styl= e=3D"color: rgb(54,55,55);line-height: 26px;margin-bottom: 0;box-sizing: bo= rder-box;padding-left: 4px;font-size: 16px;margin: 0;"><span>🇲= 485; </span><strong>Biogrip</strong><span> </span><a href=3D"https://substa= ck.com/redirect/2b2b8850-b9e2-4418-8689-ade0a4a05bd1?j=3DeyJ1IjoiM2dmeXZtIn= 0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U" rel=3D"" style=3D"color: rgb= (54,55,55);text-decoration: underline;">wins</a><span> global award from </= span><strong>Santander</strong><span>, </span><strong>Microsoft</strong><sp= an>, and </span><strong>Oxentia Foundation</strong><span> for its AI- and I= oT-powered bionic limb and rehab tech.</span></p></li></ul><h4 class=3D"hea= der-anchor-post" style=3D"position: relative;--highlight-bg: rgba(var(--col= or-bg-accent-themed-rgb), 0.2);font-family: 'SF Pro Display',-apple-system-= headline,system-ui,-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,Helve= tica,Arial,sans-serif,'Apple Color Emoji','Segoe UI Emoji','Segoe UI Symbol= ';font-weight: bold;-webkit-font-smoothing: antialiased;-moz-osx-font-smoot= hing: antialiased;-webkit-appearance: optimizelegibility;-moz-appearance: o= ptimizelegibility;appearance: optimizelegibility;margin: 1em 0 0.625em 0;co= lor: rgb(54,55,55);line-height: 1.16em;font-size: 1.125em;">🇵Ӻ= 66; Peru</h4><ul style=3D"margin-top: 0;padding: 0;"><li style=3D"margin: 8= px 0 0 32px;mso-special-format: bullet;"><p style=3D"color: rgb(54,55,55);l= ine-height: 26px;margin-bottom: 0;box-sizing: border-box;padding-left: 4px;= font-size: 16px;margin: 0;"><span>🇵🇪 </span><strong>Monnet = Payments</strong><span>, founded by </span><strong>Franco Zurita</strong><s= pan>, </span><a href=3D"https://substack.com/redirect/bc28f957-01dc-47b7-8d= a5-290373321100?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rb= AsF0l24U" rel=3D"" style=3D"color: rgb(54,55,55);text-decoration: underline= ;">is recognized</a><span> by </span><strong>MIT Technology Review</strong>= <span> for streamlining online payments across 8 LatAm countries.</span></p= ></li><li style=3D"margin: 8px 0 0 32px;mso-special-format: bullet;"><p sty= le=3D"color: rgb(54,55,55);line-height: 26px;margin-bottom: 0;box-sizing: b= order-box;padding-left: 4px;font-size: 16px;margin: 0;"><span>🇵 = 7466; </span><strong>Teamcore</strong><span> </span><a href=3D"https://subs= tack.com/redirect/093e6ee7-a3e3-4a50-95e6-95680b077f3a?j=3DeyJ1IjoiM2dmeXZt= In0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U" rel=3D"" style=3D"color: r= gb(54,55,55);text-decoration: underline;">launches</a><span> </span><strong= >TSOL</strong><span> to boost traditional retail with AI, improving product= availability, distribution, and sales by up to 25%.</span></p></li><li sty= le=3D"margin: 8px 0 0 32px;mso-special-format: bullet;"><p style=3D"color: = rgb(54,55,55);line-height: 26px;margin-bottom: 0;box-sizing: border-box;pad= ding-left: 4px;font-size: 16px;margin: 0;"><span>🇨🇱 </span>= <strong>Rocktruck</strong><span> </span><a href=3D"https://substack.com/red= irect/ea640432-195a-431e-a9d5-b889cf01445a?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFOb= qArDfP822j-jnN48_jCfgM3m0rbAsF0l24U" rel=3D"" style=3D"color: rgb(54,55,55)= ;text-decoration: underline;">doubles</a><span> revenue and expands to Peru= after a strategic investment from </span><strong>Lipigas</strong><span>. T= he funds support its AI-driven last-mile logistics and regional growth.</sp= an></p></li></ul><h4 class=3D"header-anchor-post" style=3D"position: relati= ve;--highlight-bg: rgba(var(--color-bg-accent-themed-rgb), 0.2);font-family= : 'SF Pro Display',-apple-system-headline,system-ui,-apple-system,BlinkMacS= ystemFont,'Segoe UI',Roboto,Helvetica,Arial,sans-serif,'Apple Color Emoji',= 'Segoe UI Emoji','Segoe UI Symbol';font-weight: bold;-webkit-font-smoothing= : antialiased;-moz-osx-font-smoothing: antialiased;-webkit-appearance: opti= mizelegibility;-moz-appearance: optimizelegibility;appearance: optimizelegi= bility;margin: 1em 0 0.625em 0;color: rgb(54,55,55);line-height: 1.16em;fon= t-size: 1.125em;"><strong>🌎 </strong><span>Other LatAm News</span><= /h4><ul style=3D"margin-top: 0;padding: 0;"><li style=3D"margin: 8px 0 0 32= px;mso-special-format: bullet;"><p style=3D"color: rgb(54,55,55);line-heigh= t: 26px;margin-bottom: 0;box-sizing: border-box;padding-left: 4px;font-size= : 16px;margin: 0;"><span>🇨🇴 </span><strong>Nequi</strong><s= pan> </span><a href=3D"https://substack.com/redirect/e32965f1-3721-417b-95c= 0-dd891493ec46?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbA= sF0l24U" rel=3D"" style=3D"color: rgb(54,55,55);text-decoration: underline;= ">expands to</a><span> </span><strong>Guatemala</strong><span> and </span><= strong>El Salvador</strong><span>, offering savings, remittances, and credi= t to boost financial inclusion in both countries.</span></p></li><li style= =3D"margin: 8px 0 0 32px;mso-special-format: bullet;"><p style=3D"color: rg= b(54,55,55);line-height: 26px;margin-bottom: 0;box-sizing: border-box;paddi= ng-left: 4px;font-size: 16px;margin: 0;"><span>🇨🇱🤝&= #127474;🇽 </span><strong>NotCo</strong><span> </span><a href=3D"htt= ps://substack.com/redirect/9b4ca9b5-3bce-413b-9276-99403e2129fc?j=3DeyJ1Ijo= iM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U" rel=3D"" style=3D= "color: rgb(54,55,55);text-decoration: underline;">partners</a><span> with = </span><strong>Aeromexico</strong><span> to offer its </span><strong>NotBur= ger</strong><span> on select flights, expanding its plant-based airline mea= l reach in LatAm after teaming with </span><strong>LATAM</strong><span> las= t year.</span></p></li></ul><h1 class=3D"header-anchor-post" style=3D"posit= ion: relative;--highlight-bg: rgba(var(--color-bg-accent-themed-rgb), 0.2);= font-family: 'SF Pro Display',-apple-system-headline,system-ui,-apple-syste= m,BlinkMacSystemFont,'Segoe UI',Roboto,Helvetica,Arial,sans-serif,'Apple Co= lor Emoji','Segoe UI Emoji','Segoe UI Symbol';font-weight: bold;-webkit-fon= t-smoothing: antialiased;-moz-osx-font-smoothing: antialiased;-webkit-appea= rance: optimizelegibility;-moz-appearance: optimizelegibility;appearance: o= ptimizelegibility;margin: 1em 0 0.625em 0;color: rgb(54,55,55);line-height:= 1.16em;font-size: 2em;">Big company & policy news 💡</h1><p sty= le=3D"margin: 0 0 20px 0;color: rgb(54,55,55);line-height: 26px;font-size: = 16px;"><span>🇦🇷 Argentina’s tax authority </span><str= ong>ARCA</strong><span> now </span><a href=3D"https://substack.com/redirect= /11e455a2-c58d-4aa5-a4ad-a18f4e1e2ff6?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDf= P822j-jnN48_jCfgM3m0rbAsF0l24U" rel=3D"" style=3D"color: rgb(54,55,55);text= -decoration: underline;">requires</a><span> individuals to declare crypto w= allet addresses in annual asset reports. The move aims to increase fiscal c= ontrol and traceability of digital assets.</span></p><p style=3D"margin: 0 = 0 20px 0;color: rgb(54,55,55);line-height: 26px;font-size: 16px;"><span>= 27462;🇷 </span><strong>ARCAP</strong><span> </span><a href=3D"https= ://substack.com/redirect/fd67dbe2-f4f5-4608-9898-542801318311?j=3DeyJ1IjoiM= 2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U" rel=3D"" style=3D"c= olor: rgb(54,55,55);text-decoration: underline;">supports</a><span> Argenti= na's currency unification, seeing it as key to reviving startup investments= and boosting competitiveness.</span></p><p style=3D"margin: 0 0 20px 0;col= or: rgb(54,55,55);line-height: 26px;font-size: 16px;"><span>🇲Ӻ= 85; </span><strong>Openbank</strong><span> </span><a href=3D"https://substa= ck.com/redirect/b7fc98ea-e370-4d2a-9b0c-32e0707929ec?j=3DeyJ1IjoiM2dmeXZtIn= 0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U" rel=3D"" style=3D"color: rgb= (54,55,55);text-decoration: underline;">launches</a><span> in Mexico with a= $2B investment to expand its digital banking services. Backed by </span><s= trong>Grupo Santander</strong><span>, the bank aims to offer competitive fi= nancial products and capitalize on Mexico’s growth potential.</span><= /p><p style=3D"margin: 0 0 20px 0;color: rgb(54,55,55);line-height: 26px;fo= nt-size: 16px;"><span>🇲🇽🤝🇺🇸 </span>= <strong>PriceTravel</strong><span> </span><a href=3D"https://substack.com/r= edirect/8f059f5f-9162-41cf-aa9c-ee6b92bf7beb?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uF= ObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U" rel=3D"" style=3D"color: rgb(54,55,5= 5);text-decoration: underline;">partners</a><span> with </span><strong>Amaz= on Web Services</strong><span> to enhance scalability, security, and effici= ency in its digital platforms across LatAm using AWS cloud and AI tools.</s= pan></p><p style=3D"margin: 0 0 20px 0;color: rgb(54,55,55);line-height: 26= px;font-size: 16px;"><span>🇪🇸 </span><strong>S2GRUPO</stron= g><span> </span><a href=3D"https://substack.com/redirect/179c794a-603f-4522= -bdaf-65a30c2cfc50?j=3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m= 0rbAsF0l24U" rel=3D"" style=3D"color: rgb(54,55,55);text-decoration: underl= ine;">to invest</a><span> $214M in LatAm by 2030, focusing on </span><stron= g>Colombia</strong><span> and </span><strong>Mexico</strong><span> to boost= cybersecurity in critical sectors with sovereign IT+OT solutions.</span></= p><h1 class=3D"header-anchor-post" style=3D"position: relative;--highlight-= bg: rgba(var(--color-bg-accent-themed-rgb), 0.2);font-family: 'SF Pro Displ= ay',-apple-system-headline,system-ui,-apple-system,BlinkMacSystemFont,'Sego= e UI',Roboto,Helvetica,Arial,sans-serif,'Apple Color Emoji','Segoe UI Emoji= ','Segoe UI Symbol';font-weight: bold;-webkit-font-smoothing: antialiased;-= moz-osx-font-smoothing: antialiased;-webkit-appearance: optimizelegibility;= -moz-appearance: optimizelegibility;appearance: optimizelegibility;margin: = 1em 0 0.625em 0;color: rgb(54,55,55);line-height: 1.16em;font-size: 2em;">I= nteresting reads 💡</h1><p style=3D"margin: 0 0 20px 0;color: rgb(54= ,55,55);line-height: 26px;font-size: 16px;"><span>🇧🇷 </span= ><strong>Wana Schulze</strong><span>, Head of </span><strong>Wayra Brasil</= strong><span> and </span><strong>Vivo Ventures</strong><span>, </span><a hr= ef=3D"https://substack.com/redirect/84a7c1f4-13a7-404d-a995-7e75ae3cb5d6?j= =3DeyJ1IjoiM2dmeXZtIn0.xu76uFObqArDfP822j-jnN48_jCfgM3m0rbAsF0l24U" rel=3D"= " style=3D"color: rgb(54,55,55);text-decoration: underline;">shared</a><spa= n> key takeaways from </span><strong>South Summit 2025</strong><span>, high= lighting how CVCs are leaning into generative AI, the rise of data-driven s= tartup cultures, and the growing role of secondaries in a turbulent macroec= onomic landscape.</span></p><div style=3D"font-size: 16px;line-height: 26px= ;"><hr style=3D"margin: 32px 0;padding: 0;height: 1px;background: #e6e1dd;b= order: none;"></div><div class=3D"subscription-widget-wrap" style=3D"font-s= ize: 16px;line-height: 26px;margin-bottom: 0;"><div class=3D"subscription-w= idget show-subscribe" style=3D"font-size: 16px;direction: ltr !important;fo= nt-weight: 400;text-decoration: none;font-family: system-ui,-apple-system,B= linkMacSystemFont,'Segoe UI',Roboto,Helvetica,Arial,sans-serif,'Apple Color= Emoji','Segoe UI Emoji','Segoe UI Symbol';color: #363737;line-height: 1.5;= max-width: 560px;margin: 24px auto;align-items: flex-start;display: block;t= ext-align: center;padding: 0px 32px;"><div class=3D"preamble" style=3D"marg= in-top: 16px;font-family: system-ui,-apple-system,BlinkMacSystemFont,'Segoe= UI',Roboto,Helvetica,Arial,sans-serif,'Apple Color Emoji','Segoe UI Emoji'= ,'Segoe UI Symbol';font-size: 18px;max-width: 384px;width: fit-content;line= -height: 22px;display: flex;align-items: center;text-align: center;font-wei= ght: 400;margin-left: auto;margin-right: auto;"><p style=3D"margin: 0 0 20p= x 0;color: rgb(54,55,55);line-height: 26px;font-size: 16px;">Thanks for rea= ding Dealflow LatAm! 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