South America
The latest startup and technology news coming out of South America.
Cheap irrigation has transformed many regions around the world into breadbaskets, but it also means that there can be little left for other uses.
Félix Pago raises $15.5 million to help Latino workers send money home via WhatsApp
Remittances from workers in the U.S. to their families and friends in Latin America amounted to $155 billion in 2023. With such a huge opportunity, banks, money transfer companies, retailers,…
Here’s a shoutout to LatAm early-stage startup founders! We want YOU to apply for the Startup Battlefield 200 at TechCrunch Disrupt 2024. But you’d better hurry — time is running…
Accion’s new $152.5M fund will back financial institutions serving small businesses globally
For over six decades, the nonprofit has been active in the financial services sector.
Chilean instant payments API startup Fintoc raises $7 million to turn Mexico into its main market
Fintoc’s API lets online businesses accept instant payments coming directly from the customer’s bank account. This method, known as A2A, offers an alternative to credit card transactions.
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 technology and…
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 Internet…
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…
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…
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 incurring extra…
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…
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…
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 million…
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…
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…
Vopero, now with $4 million more, provides a clothing resale marketplace for Latin America
Vopero intends to launch in Chile by the end of the year with a goal to put 1,000 of its items in “corners” of physical retailers like Paris.
Featured Article
Latin America’s Q3 2023 venture results show glimmers of light
While some Latin American data, sourced from Sling Hub and Distrito, illustrates certain positive trends, other data from the region points the other direction.
Yooga wants its restaurant operating system to be ‘Toast of Latin America’
Yooga provides software for restaurants to manage orders, send orders to the kitchen, last-mile delivery and control inventory and cash flow.
Cobre secures $13M to help CFOs in Colombia automate corporate payments
Cobre’s corporate treasury platform gives CFOs more visibility and control over their company’s financial transactions and a way to digitize and automate their payment processes.
Gringo’s super app for Brazilian drivers adds insurance, financing with $30M Series C
The new funding will enable the company to expand its automotive credit and insurance products and introduce new features.