Hello there,

Welcome to another edition of 🔍 Startup Researcher - Latin America, your essential digest delivering the latest news and premium insights on startups and venture capital across the region 🌎️

If you haven't subscribed yet, now's the perfect time. Don't miss the opportunity to supercharge your understanding and stay ahead in this dynamic world.

Ready? Let’s get right into it.

📰 Important News

• UK-based unicorn Revolut is finalizing its entry into Peru, appointing Ronald Ayllón Urquizo to lead operations and preparing to obtain a banking license.

• The Dominican Republic’s Central Bank launched an instant payments platform to enhance financial inclusion, reduce cash use, and enable 24/7 transactions.

• Nu Colombia launched a CDT with up to 11.1% annual yield, expanding its financial offerings as interest rates drop.

• Chile’s Tenpo secured regulatory approval to become a bank, marking a key step toward launching the country’s first neobank with backing from Credicorp.

• Mexican fintech Ximple launched a credit card for loan disbursements through a strategic alliance with DOCK and Mastercard.

💸 Top Funding Rounds

• Involves obtained $12.04 million from Bridge One, its sole investor, to fund its growth, with most of the capital allocated for the acquisition of Datamind.

• Split Risk raised $8.6 million from HSR Soluções e Participações and La Barca Empreendimentos to expand its Insurance-as-a-Service model.

• Neofin closed a $7 million seed round led by Quona and Upload to enhance AI-powered debt collection.

• Caveo secured $3.44 million to build a specialized bank for doctors, helping them manage taxes, cash flow, and finances.

• Banca.me raised $3 million in debt and equity funding to scale its Open Finance-powered lending platform and expand its SaaS solutions.

💰️ Notable Exits

• Involves is acquiring Chilean trade marketing startup Datamind using most of the $12.04 million it raised from Bridge One to fund the deal.

• Afinz acquired Brazilian paytech Joinkey to enhance its financial services ecosystem, streamlining digital transactions for retailers.

• BYX Capital acquired Nvio, Bitso’s instant payments platform, to expand its digital lending operations in Brazil.

• Corpay is acquiring Gringo to expand its vehicle payments business, leveraging the app’s 2.5 million monthly users and integrating it with its existing Brazil operations.

• Valsoft has entered LATAM with the acquisition of Brazil-based VHL Sistemas, a leading provider of cloud-based notary management solutions.

🏦 About Investors

• IDB Invest committed $5 million to Mundi Ventures Latam Fund I to improve “financial protection” in Latin America and the Caribbean.

• Minerva Foods joined Upload Ventures' growth fund, anchored by TIM, planning to invest up to $51.64 million in technology and startups.

• Nexpon completed its first exit with the sale of BuscaOnibus to DeÔnibus, reinforcing its media for equity strategy in Brazil.

• Bossa Invest hosted an online event on February 6th, featuring Jairo Margatho, to discuss 2025 VC trends and the firm's investment approach.

🚀 Startup of the Week

Introducing our Startup of the Week 🏆

Involves

Brazil-based Involves, a leading trade marketing and data intelligence company, has raised $12.04 million from its sole investor, Bridge One, to accelerate its expansion. A significant portion of the investment will be used to acquire Chilean trade marketing startup Datamind, reinforcing Involves' market position in Latin America. Founded in 2009, Involves provides its retail execution platform, Involves Stage, to over 900 brands worldwide, helping consumer goods companies optimize field operations, track performance, and enhance their in-store execution strategies.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Mundi Ventures

Spain-based Mundi Ventures, a global venture capital firm specializing in insurtech, fintech, and enterprise technology, has launched a new fund dedicated to Brazil and Latin America. Backed by major European insurers and development agencies, the fund will deploy investments ranging from $3 million to $5 million in Series A and B startups across insurtech, fintech, healthtech, and related sectors. Founded in 2015, Mundi Ventures has supported over 60 companies worldwide, with a long-term vision of leveraging technology to help businesses and society better manage risk in an increasingly complex world.

🤑 Opportunity Radar

Call for Applications: Y Combinator Spring 2025

Apply to the Y Combinator Spring 2025 Batch by February 11th, 2025 to join one of the world’s most prestigious startup accelerators. The batch, held in San Francisco from April to June 2025, offers access to $500,000 in funding, top-tier mentorship, networking opportunities, and a vibrant community of founders. Participants will work closely with experienced YC General Partners, attend weekly meetups, and gain insights from renowned startup leaders like the founders of Airbnb and Stripe. Don’t miss the chance to secure funding and accelerate your startup journey—apply now and unlock lifelong connections within YC’s powerful alumni network.