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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

• Hand Talk launched a free 2-hour digital accessibility course with support from Google to train leaders and professionals, aiming to increase accessible websites in Brazil from 3% to 100%.

• BYD ended its partnership with Jinjiang Construction Brazil after Brazilian authorities uncovered severe labor abuses.

💸 Top Funding Rounds

• Agibank secured $63 million from Lumina Capital valuing the neobank at $1.748 billion as it targets expansion in Brazil and beyond.

💰️ Notable Exits

• Amsterdam-based Prosus is set to acquire Latin American OTA Despegar for $1.7 billion, aiming to expand its Latin American presence.

🏦 About Investors

• The U.S. Department of Energy awarded $1 million to Parallel18 for Project Switch, advancing clean energy startups in Puerto Rico and the Caribbean.

🚀 Startup of the Week

Introducing our Startup of the Week 🏆

Agibank

Agibank, founded in 2013 by Marciano Testa, is a Brazilian neobank specializing in personal loans and payroll lending for low-income individuals. It secured a $63 million investment from Lumina Capital, valuing it at $1.748 billion. Despite strong financial performance, including a 46.5% return on equity and projected revenue of $1.271 billion for the year, Agibank sought a strategic partner to support its growth and potential IPO. The bank operates with a hybrid model, blending digital banking with over 1,000 "smart hubs" – physical locations where customers can receive personalized support. This unique approach helps Agibank serve tech-averse customers. The partnership was driven by a strong connection between Testa and Daniel Goldberg, founder of Lumina Capital, aligning their vision for Agibank's future growth.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Parallel18

Parallel18, an international startup accelerator based in Puerto Rico, has been awarded $1 million from the U.S. Department of Energy to support its Project Switch initiative, which focuses on clean energy startups in Puerto Rico and the Caribbean. Founded in 2015 by the Puerto Rico Science, Technology, and Research Trust, Parallel18 aims to foster innovation through funding, mentorship, and access to a global network. The funding will enable Phase 2 of Project Switch, which empowers entrepreneurs—particularly professors and college students—developing clean energy technologies for commercialization. This initiative provides resources such as business training, mentorship, and access to local startup networks to help startups succeed and drive sustainable growth in Puerto Rico.

🤑 Opportunity Radar

Call for Applications: 100x Impact Accelerator

Apply to the 100x Impact Accelerator by 6 January 2025 for a 12-week program offering £150,000 in catalytic capital and access to world-class mentors, researchers, and policymakers. The program is open to social ventures addressing global challenges in areas such as climate, health, education, and equitable economies, with a focus on scalable, evidence-based solutions. Participants will join a cohort of like-minded entrepreneurs, gain long-term alumni membership, and present their work at a dedicated Summit Day.