South America

Y Combinator’s latest cohort had only one LatAm startup in large part because of AI

Brazilian startup Salvy, a mobile carrier for businesses, was the only company based in Latin America in Y Combinator's latest batch, the accelerator confirmed to TechCrunch.

Web3 investment firm Borderless Capital acquires CTF Capital to bring AI and quant expertise

Borderless Capital, an investment firm that specializes in web3, announced Tuesday that it is acquiring CTF Capital, a quantitative trading and asset management firm headquartered in Miami, with techn

Audio platform Pocket FM bags $103M in funding as it eyes global expansion

India-based audio platform Pocket FM has secured $103 million in Series D funding led by Lightspeed Ventures, with participation from Stepstone Group. The company, which counts Tencent and Times Inter

General Atlantic leads $50M Series C into Bold to grow digital payments in Colombia

Bold provides low-cost payment terminals, called dataphones, that enable small and medium businesses to accept link payments.

Why Latin American SaaS startups are different from their US peers

Many of Latin America's SaaS businesses outperform others at efficiency metrics, but capital scarcity also puts a limit to innovation, although AI could change that.

Is building an ecosystem the way forward for construction tech startups in LatAm?

Argentine construction tech startup Nuqlea recently raised a $750,000 extension round led by construction-focused VC firm Foundamental.

Now with $5M, Leal invests in AI-driven customer engagement for LatAm merchants

Leal enables merchants to create a customer database to then offer cashback and rewards products to loyal shoppers on everyday purchases. 

Spot Technologies, now with $2M, will see AI security tech go into Mexico Walmarts

Spot’s flagship product, VisionX, taps into deep learning and computer vision technologies to analyze consumer and theft behaviors.

Prometeo raises $13M from PayPal, Samsung and more to bring open banking to Latin America

Open banking — where traditional banks can share data, and build new services, by way of APIs that bring their ageing systems into the 21st century — has seen its biggest traction to date

Google will allow more real-money games on the Play Store

Google announced today that the company plans to support more real-money games (RMG) on the Play Store this year by allowing more types of games in the category following local laws. The search giant

Gabriel’s urban intelligence infrastructure aims to create safer neighborhoods across Latin America

The company integrates cameras and computer vision with routine police operations to address public safety challenges across Latin America.

Spotify u-turns on Uruguay exit after government gives assurances on artist payments

Spotify has reversed course on a decision to exit the Uruguayan market, after gaining assurances from the government that copyright law changes it’s introducing won’t result in Spotify inc

Vammo aims to scale e-motorcycle battery swapping across LatAm

Vammo, the São Paulo-based startup that wants to scale electric motorcycle battery swapping in Latin America, has raised a $30 million Series A round to capture the growth in popularity of motorcycl

NXTP closes largest fund with $98M for early-stage B2B founders in Latin America

NXTP Fund III represents over a 2x increase from the size of its previous fund, enabling the firm to invest in between 25 and 30 companies this time around.

Construction marketplace Construex takes in first capital to expand in Latin America

Co-founders Roberto Arroyo and his brother, Nicolas Arroyo, bootstrapped the company for almost four years and reached profitability while expanding into Chile, Guatemala and Argentina.

Riverwood Capital closes $1.8B fund, says opportunity in LatAm ‘has never been greater’

Riverwood Capital has closed on $1.8 billion in new capital, the growth investment firm announced today. The firm last raised in 2020, with total capital commitments of $1.4 billion at that time. Rive

InDrive launches ventures and M&A arm to invest $100M in startups across emerging markets

InDrive, the “bid-based” ride-hail platform popular in Latin America and Asia, has launched a new venture and merger and acquisition division named New Ventures to invest up to $100 millio

Nazca leads investment into Loads, out to change Latin America’s food supply chain

The company expects to market 1 million kilograms of food monthly through its platform by the first quarter of 2024.

Brazilian fintech QI Tech lands $200M led by General Atlantic

Brazilian banking-as-a-service startup QI Tech has raised $200 million in a Series B round of funding led by New York-based General Atlantic. The raise is believed to be the largest in Brazil —

Fintech startup Finerio secures $6.5M to create open finance ecosystem in Latin America

In the past year, Finerio created an API hub for digital payments, credit and personal finance management, as well as a place for financial institutions to comply with new open banking regulations. 
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