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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

• Claudia Sheinbaum announced key projects to advance Mexico’s tech growth including semiconductor production, electric cars, drones, and free software manufacturing.

• Nubank partnered with OXXO to expand its cash deposit and withdrawal services across Mexico, growing its network to over 30,000 locations.

• Meta responded to Brazil’s Attorney General’s Office on policy changes, addressing concerns over content moderation and misinformation.

• Yuno partnered with PayPal to simplify digital payments for businesses globally, expanding payment options and fostering financial inclusion.

• Belvo partnered with J.P. Morgan Payments to automate direct debit payments in Mexico, enhancing efficiency and user experience for businesses.

💸 Top Funding Rounds

• Colombian Finmaq raised $29 million in a pre-Series A round to expand SME asset financing, streamline loan approval processes, and grow its portfolio.

• Olé Life raised $13 million in a Series B round led by PayPal Ventures to expand its digital life insurance offerings across Latin America.

• Sistema.bio secured $3.5 million from Novastar Ventures to scale its biogas technology and digital solutions across Africa.

• Argentinian fintech Alprestamo raised $929,000 through its first CNV Negotiable Obligation to boost financial inclusion in LATAM.

💰️ Notable Exits

• Airwallex, the Australian unicorn focused on cross-border payments, acquired Mexpago to enter the Mexican market, aiming to address the growing demand for digital payment solutions for SMEs in Latin America.

🏦 About Investors

• Grupo Pereira launched the GPS acceleration program for startups in retail technology, offering equity-free support, personalized mentoring, and real-world testing in AI, IoT, biotech, and nanotech sectors.

🚀 Startup of the Week

Introducing our Startup of the Week 🏆

Finmaq

Colombian fintech Finmaq secured $29 million in a pre-Series A round, combining equity led by Alive Ventures and 30N Ventures with debt from Accial Capital and Iris Bank, to expand SME asset financing. Founded in 2014, FinMaq specializes in providing tailored financing for productive assets like tractors and medical equipment, leveraging proprietary credit risk analysis to serve underbanked borrowers. The funds will enhance FinMaq’s portfolio, distributor network, and loan approval processes, aiming to reduce loan completion times from eight to two days. Operating in Colombia and other Latin American markets, FinMaq has disbursed over $30 million in loans to 550+ clients, supporting financial inclusion and SME growth.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Grupo Pereira

Grupo Pereira, one of Brazil’s largest retailers, founded in 1962, operates well-known chains like Fort Atacadista, Comper, and SempreFort, and is recognized for its technological initiatives. The company has launched the GPS acceleration program to support startups in retail technology, focusing on AI, IoT, biotech, and nanotech. This five-month, equity-free program offers personalized mentoring, real-world testing within Grupo Pereira's operations, and opportunities to co-develop new products and services. The program aims to bridge the gap between innovative startups and the retail market, leveraging Grupo Pereira’s 60 years of experience.

🤑 Opportunity Radar

Call for Applications: Sustainability Open Innovation Challenge 6th Edition

Apply for the Sustainability Open Innovation Challenge 6th Edition by January 27th, 2025, to showcase your sustainable solutions and gain exclusive visibility from top investors. This global competition invites startups and SMEs to tackle pressing sustainability challenges in areas such as Climate Change, Green Buildings, Sustainable Agriculture, and Sustainable Materials. Submissions made early will receive feedback from industry experts and potential investors, opening doors to funding, collaboration, and mentorship. Don’t miss this chance to make a meaningful impact and contribute to a greener, carbon-neutral future.