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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 🌎️

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📰 Important News

• Nubank announced leadership changes with David Vélez returning as CEO and Youssef Lahrech leading global and corporate structures.

• BioEsol launched BioEnergía Total in Mexico after securing a $15 million investment to offer intelligent energy storage and financing solutions.

• The Brazilian Central Bank reported a security breach exposing personal data linked to 25,349 Pix keys from QI SCD.

• Chilean lawmakers concluded the first phase of their startup-focused initiative with a report and seminar highlighting key ecosystem challenges.

• Canadian fintech Nuvei gained approval from Brazil's Central Bank to operate as a payment institution while Woovi became a direct Pix participant.

💸 Top Funding Rounds

• Ualá secured an additional $66 million in its Series E round, bringing the total to $366 million, to accelerate expansion and enhance its financial services.

• Graviola, a Brazilian agritech startup, received up to $7.93 million from SRM Ventures to provide credit and automation solutions via WhatsApp.

• KredFeed raised $1.5 million in a Seed round to enhance its financing solutions for Mexican SMEs in the manufacturing sector.

• WAS Co. closed a $1.5 million pre-seed round to develop sustainable construction materials from mining waste.

• MT Bank obtained $883,000 from Hiker Ventures to develop an integrated solution simplifying financial management for retail SMEs in Brazil.

💰️ Notable Exits

• Lumu Technologies acquired Spanish threat intelligence company Maltiverse to enhance its real-time threat intelligence capabilities.

• Volaris Group acquired Brazilian HR tech firm Nydus Systems, expanding its payroll and HR solutions.

• Dealerspace acquired F&I Brasil, its third purchase in eight months, aiming to become the leading platform for automotive dealership management.

• Selbetti, a serial acquirer of startups, made its first acquisition of 2025, purchasing Euax, a digital transformation consultancy, for $4.3 million.

🏦 About Investors

• Mexican venture capital funds Nazca and Bridge Latam merged to create the largest VC fund in Latin America with over $300 million in assets, aiming to shape the future of the region's startup ecosystem.

• Yango Ventures launched a $20 million fund to support early-stage startups in emerging markets, including Latin America, focusing on O2O, B2B SaaS, and fintech, with expertise to drive sustainable growth.

• Bossa Invest appointed João Pedro Ribeiro do Val as its new Chief Commercial Officer to expand its network of partners and co-investors, strengthening connections between capital and innovation in Latin America.

🚀 Startup of the Week

Introducing our Startup of the Week 🏆

Ualá

Ualá, a prominent Argentine fintech founded in 2017 by Pierpaolo Barbieri, has raised an additional $66 million in its Series E funding round, bringing the total to $366 million. The investment, initially led by Allianz X and now joined by TelevisaUnivision, underscores strong investor confidence in Ualá’s vision to expand its digital financial services across Mexico, Argentina, and Colombia. With over nine million users, Ualá continues to drive financial inclusion in Latin America by offering a comprehensive ecosystem of banking solutions, including debit and credit cards, loans, investments, and AI-powered credit evaluation through its proprietary UaláScore model.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Nazca and Bridge Latam

Mexican venture capital firms Nazca and Bridge Latam have merged to create the largest VC fund in Latin America, managing over $300 million in assets to strengthen the region's startup ecosystem. Nazca, founded in 2014, has backed major startups like Kavak and Jüsto, while Bridge Latam, established in 2021, has focused on early-stage investments with a data-driven approach. The combined firm will leverage AI-powered decision-making, a vast network of influential venture partners, and plans to launch Nazca Fund IV in 2025 to lead investment in Spanish-speaking Latin America.

🤑 Opportunity Radar

Call for Applications: the Techstars Tokyo Accelerator

Apply to the Techstars Tokyo Accelerator by May 14th, 2025, and elevate your startup on the global stage. This sector-agnostic program supports entrepreneurs in Deeptech, Fintech, Cleantech, and Climatetech, providing access to a world-class ecosystem, mentorship, and investor connections. If you’re an international startup looking to target Japan or find local business partners and talent, this program is for you. Powered by Mitsui Fudosan and JETRO Startup, in collaboration with the Cabinet Office, METI, and the Tokyo Metropolitan Government, the accelerator kicks off on August 18th, 2025, with Demo Day on November 11th. Start your application today and join a vibrant global network of innovators in Tokyo!