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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

• The Central Bank of Brazil is planning to launch Pix Parcelado in September 2025 for installment payments, and to implement an AI fraud risk score by 2026-2027 to enhance security.

• Pluggy and Stark Infra have been authorized to operate in Brazil’s financial system, with Pluggy offering Payment Initiation via Pix in Open Finance and Stark Infra providing tech infrastructure for financial institutions.

• Guilherme Souto was appointed as the new Director of Investor Relations and Market Intelligence at Nubank following recent leadership changes.

• Chilean unicorn Betterfly ceased operations in five Latin American countries to focus on Chile, Mexico, Spain, and expand to the US.

💸 Top Funding Rounds

• Mendel closed a $35 million Series B round led by Base10 and PayPal Ventures to expand its spend and travel management platform across LATAM.

• Uruguayan Strike secured $13.5 million to accelerate the development of its AI-powered pentesting platform Strike360 and expand into the U.S. and Brazil.

• Uncover raised $2.2 million in a seed round extension, to enhance its SaaS platform and expand its presence in Brazil and internationally.

• Exactly secured $2 million for its decentralized finance app, aiming to expand user base and scale operations in DeFi with competitive rates.

• Sustineri Piscis raised $1.63 million to expand its production of cultivated fish meat, aiming to provide sustainable animal protein.

💰️ Notable Exits

• Magazord acquired 51% of Braavo! for up to $1.74 million to expand its e-commerce solutions for small retailers in São Paulo.

• Entre Group has received approval from the Central Bank to acquire Credihome's credit license, which will be rebranded as Octa.

🏦 About Investors

• iFood has teamed up with Yvy Capital to launch a fund focused on accelerating the electric motorcycle market in Brazil with an initial investment of $7.5 million aiming to raise $50 million in total.

• Banco do Brasil launched BB Crédito Mulher Exportadora, a financing line for women-led companies in foreign trade with special conditions, aiming to boost female entrepreneurship and international market presence.

• Audax Capital launched a $34.72 million FIDC to support agro sector recovery expected for late 2025, focusing on AI to enhance credit risk analysis and positioning itself for a strong 2026 recovery.

🚀 Startup of the Week

Introducing our Startup of the Week 🏆

Mendel

Mendel, a Mexico City-based fintech founded in 2021 by Alan Karpovsky and Alejandro Zecler, specializes in AI-powered enterprise spend management, integrating expense management, payments, and corporate travel for large enterprises across Latin America. The company raised $35 million in a Series B funding round led by Base10 Partners and PayPal Ventures, with participation from Infinity Ventures, Industry Ventures, Hi.vc, and Endeavor Catalyst, to enhance its AI capabilities, expand operations into Chile, Colombia, and Peru in 2025, and target Brazil in 2026.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Yvy Capital

Yvy Capital, a Brazilian asset management firm founded in 2016 and focused on sustainability and the green economy, has partnered with iFood to launch a fund aimed at accelerating the electric motorcycle market in Brazil. With iFood as the anchor investor, the fund, named YvY Fábrica de Negócios, received an initial investment of $7.5 million and aims to raise a total of $50 million to support mobility and energy transition initiatives. By 2035, the fund expects to enable the production and sale of 600,000 affordable electric motorcycles annually, benefiting delivery drivers and urban mobility while fostering up to $1 billion in potential new investments through a startup ecosystem.

🤑 Opportunity Radar

Call for Applications: Y Combinator’s Summer 2025 Batch

Apply to Y Combinator’s Summer 2025 Batch by May 13, 2025, to accelerate your startup journey with one of the world’s most prestigious accelerators. The program runs from June to September in San Francisco, featuring in-person meetups, mentorship from experienced YC partners, and access to YC’s powerful alumni network. Selected startups receive $500,000 in funding immediately upon acceptance and benefit from exclusive investor connections. Don’t miss this chance to join a thriving community of founders—apply today!