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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

• NuCel has expanded to Brazil, offering eSIM plans with 93% national coverage, high-performance 5G, and exclusive benefits for Nubank customers.

• Temu surpassed Mercado Livre to become the second-largest marketplace in Brazil with 39 million monthly active users in just six months of operation.

• Community Creators Academy, a partnership between Ânima Educação and Agência Califórnia, is launching in São Paulo with a $6.76 million investment to create a hub for content creator education and acceleration in Brazil.

• Chilean paytechs ProntoPaga and Baaskit have been authorized by the Commission for the Financial Market as a PSP for cross-border acquiring and a payment card operator, respectively.

• Syonet has entered the Mexican market with its CRM software for automotive dealerships, aiming for 100+ clients and a 33.33% annual revenue growth by 2025.

💸 Top Funding Rounds

• Paytrack secured $40.56 million in a Series B round to expand its corporate travel and expense management platform serving over 7,000 clients in Brazil.

• Music.AI, developed by the Brazilian startup Moises, raised $40 million in a Series A round to expand its AI-powered voice editing platform in the US.

• Argentine fintech Credicuotas issued its first $18.2 million dollar-denominated negotiable bond to diversify funding and attract new investors.

• Rocketbot secured a $900,000 fund to advance automation with self-repairing bots that autonomously diagnose and fix errors.

• Ecuadorian startup PayMon raised $600,000 in a pre-seed round led by Magma Partners to expand its financial ecosystem for students and schools.

💰️ Notable Exits

• Sem Parar acquired Gringo to expand its mobility services ecosystem, which includes toll tags and fuel price comparisons.

• Company Hero acquired Duca Saúde and Segure.Me to expand its services for self-employed professionals including health plans and insurance.

• DeÔnibus acquired BuscaÔnibus to strengthen the road transportation sector, enhancing synergy between the companies while maintaining independence.

• SoftBank sold its 49% stake in WeWork Brazil to a WeWork subsidiary in the Netherlands as part of a reorganization strategy.

• NewGen acquired MicroSort for $5 million, expanding its fertility services with advanced sperm-sorting and genetic disorder prevention capabilities.

🏦 About Investors

• Raio Capital announced an investment initiative of up to $16.9 million in promising Brazilian startups, aiming to provide strategic support and create impactful businesses by July 2025.

• Bossa Invest outlined its 2025 strategy focusing on AI, sustainability, and emerging hubs, with plans to expand operations, offer strategic support to startups, and prioritize investments with lasting social impact.

📊 Investment Highlights

Despite the challenges of a funding winter across LATAM, Mexican startups are defying the odds with remarkable funding rounds. From fintech disruptors like Konfio and Stori to e-commerce pioneers like Jüsto, these companies are securing millions to drive innovation and expand their reach. Delve into the full article to explore the largest startup funding rounds in Mexico, uncover how these investments are transforming sectors such as digital payments, credit services, and financial inclusion, and discover the key players shaping the future of Mexico's vibrant startup ecosystem.

🚀 Startup of the Week

Introducing our Startup of the Week 🏆

Paytrack

Brazilian corporate travel and expense management platform Paytrack has raised $40.56 million in a Series B round led by Riverwood Capital, marking the largest investment in Brazil’s corporate travel and expense sector. Founded in 2016 by Daniele Amaro and based in Santa Catarina, Paytrack serves over 7,000 clients and recently surpassed 1 million users, managing approximately $500 million in corporate expenses in 2024. The funding will drive product innovation, commercial expansion, and international growth, with a focus on integrating credit and payment solutions to enhance efficiency for businesses.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Raio Capital

Raio Capital, a venture capital firm based in Rio de Janeiro, has announced an investment initiative of up to $16.9 million to fund promising Brazilian startups by July 2025. Founded four years ago by a cross-disciplinary team, including CEO and Managing Partner Bruno Teixeira, the firm focuses on early-stage investments but remains open to other opportunities. With this initiative, Raio Capital aims to identify high-potential startups, provide strategic support, and help create impactful businesses across various sectors. By leveraging its expertise and diverse perspectives, the firm seeks to further strengthen Brazil’s startup ecosystem and drive long-term innovation and growth.

🤑 Opportunity Radar

Call for Applications: The Winning Women Brazil program

Apply to the Winning Women Brazil program by January 31, 2025, and take your business to the next level with EY’s exclusive mentorship initiative. Running from August 2025 to August 2026, the program offers tailored mentorship from experienced executives and EY specialists, helping female founders strengthen leadership, expand their networks, and scale their businesses. Eligible applicants must be majority owners and decision-makers of profitable companies with at least $500,000 in annual revenue. Don't miss this opportunity to gain visibility and long-term support.