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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

• Moises, a Brazilian music app powered by AI, won "App of the Year" for iPad at the 2024 App Store Awards.

• El Salvador is planning to sell or discontinue its Chivo crypto wallet following a $1.4 billion loan agreement with the IMF.

• Onfly, Latin America's largest B2B travel tech company, will expand to Mexico in January 2025, aiming to reach 2,500 customers by 2027.

• Kanastra, a fintech for structured funds and securitizations, has received approval from Brazil's Central Bank to become a financial institution.

• Tapi and Mercado Pago have formed a strategic alliance to enhance the user payment experience in Mexico.

💸 Top Funding Rounds

• Konfío has secured $362 million in funding from Goldman Sachs, JPMorgan Chase, and Afore Sura México to expand credit access for SMEs.

• Sami, a Brazilian health plan operator, raised $9,86 million led by Mundi Ventures and StoneX to fuel 50% growth in 2024.

• Chilean platform Yourney raised $1.6 million led by Invexor to expand its coaching services and actionable HR insights across Chile, Mexico, and Europe.

• Mexican startup Airbag raised $750,000 to enhance its fleet safety platform, expand its customer base, and continue reducing accidents and costs.

• Conta Comigo Digital raised $530,000 in a seed round led by Urca Angels to expand its team and technology while aiming for revenue growth in 2025.

💰️ Notable Exits

• Progic has acquired Simplifica.CI, aiming for a 30% customer base increase and creating the largest integrated Corporate Communications platform in LATAM.

• PayRetailers' acquisition of Transfeera has been approved by CADE and the Central Bank of Brazil, expanding PayRetailers’ presence in Brazil.

• CargoSprint acquired Advent eModal to enhance payment and workflow solutions across the global logistics landscape.

• Fintech Bold has acquired Tuily, a business credit platform, to enhance its financial solutions in Colombia, expanding its offerings for SMEs.

🏦 About Investors

• Nubank invested $150 million in Tyme Group, acquiring a minority stake to support its expansion in Africa and Southeast Asia.

🚀 Startup of the Week

Introducing our Startup of the Week 🏆

Konfío

Konfío, founded in 2014 by Francisco Padilla and David Arana, is a leading financial technology company in Mexico focused on empowering SMEs with agile access to credit and business management tools. Recently, it secured $362 million in funding from Goldman Sachs, JPMorgan Chase, and Afore Sura México, enabling the company to expand credit access to over 10,000 SMEs across Mexico. This funding will support growth in sectors like manufacturing, commerce, and services while maintaining Konfío's position as a strategic ally for businesses seeking growth and innovation through transparent, digital financing solutions.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Nubank

Nubank, the largest fintech bank in Latin America, has made a strategic investment in Tyme Group, a rapidly growing digital bank with operations in South Africa and the Philippines. Nubank's $150 million investment is part of a larger Series D round totaling $250 million, which will help Tyme expand into emerging markets. Founded in 2013 by David Vélez, Cristina Junqueira, and Edward Wible, Nubank has revolutionized the banking sector by offering a range of financial products through a mobile app, emphasizing transparency and user control. With nearly 93 million customers in Brazil and 8 million in Mexico and Colombia, Nubank continues to lead the way in digital banking, believing that the future of financial services lies in digitally native companies. This investment in Tyme aligns with Nubank’s mission to expand its global impact and share its expertise in scaling digital banking models.

🤑 Opportunity Radar

Call for Applications: Spartners Incubator

Apply to the Spartners Incubator Program in Paris-Saclay by December 29th, 2024, to accelerate your biotech or human health startup. Access state-of-the-art labs, modular workspaces, and a collaborative ecosystem powered by Servier’s scientific expertise and BioLabs’ operational excellence. Designed for startups addressing unmet medical needs, the program offers expert support and strategic networking opportunities. Don’t miss this opportunity to drive your innovation in oncology, neurology, or drug discovery platforms. Start your application today and take the next step in transforming health innovation.