Dealflow.la #68 - Amigo Tech 🇧🇷 and Turbi 🇧🇷 both raise $30M+, 93 Americans 🇺🇸 dead after cosmetic surgeries in the DR 🇩🇴, & Bukele 🇸🇻 poised for landslide win.
Latin America is rising. Subscribe to Dealflow.la to keep up.
Leal 🇨🇴 raised a $5 Million Series B round led by LEAP Global Partners 🇺🇸, with funding from Salkantay Ventures 🇵🇪, Rakuten Capital 🇯🇵, and Morro Ventures 🇵🇷 to build a consumer rewards platform designed to help retailers identify, engage, and reward their customers. The company's platform connects through an application program interface to the billing and POS payment terminals and also captures important data and consumer habits, enabling retailers and traditional businesses to get access to the necessary technology to understand who their customers are and increase their revenues.
Gabriel 🇧🇷 raised a $7 Million Venture round led by Qualcomm Ventures 🇺🇸 and Astella 🇧🇷, with funding from Globo Ventures 🇧🇷 to produce security cameras designed to offer video surveillance services with military-grade encryption, enterprise quality, and personal customer service. The company's cameras are installed in residential areas and public places and use machine learning algorithms that can recognize suspicious patterns and issue an alert, enabling users to have a safe and secure neighborhood.
PhageLab 🇨🇱 raised a $11 Million Venture round with funding from Nazca Ventures 🇨🇱 and Collaborative Fund 🇺🇸 to create antibiotic substitutes designed for the livestock industry. The company's medicines are designed to be used in industrial facilities as a food-grade additive, that is able to recognize pathogen bacteria specifically, without affecting the commensal flora, enabling food industries to selectively eliminate pathogenic bacteria with ease and increase productivity.
Prometeo 🇺🇾 raised a $13 Million Series A round led by Antler Elevate 🇸🇬, with funding from Cometa 🇲🇽, DN Capital 🇺🇸, Magma Partners 🇨🇱, PayPal Ventures 🇺🇸, Samsung NEXT 🇺🇸, and Simma Capital 🇨🇴 to build an open banking platform designed to offer an access point to information and payments. The company's platform offers a standardized application programming interface, educational tools, and money transfer applications that use payment services and provide access to banking information and payment initiation, enabling users to understand their financial behavior and improve their money management.
AVLA 🇨🇱 raised a $25 Million Venture round with funding from Altra Investments 🇲🇽 and Creation Investments Capital Management 🇺🇸 to provide comprehensive financial solutions for SMEs. The company’s solutions are available through its surety, trade credit, SME credit, and mortgage credit products. It connects SMEs with investors with an insurance policy that protects the payout of the credit line. In addition to providing access to judicial guarantees for SMEs, they want to restore the credibility of the performance guarantee insurance, which has a history of long legal processes and non-payment of claims.
Turbi 🇧🇷 raised a $30 Million Venture round led by ARC Capital 🇧🇷, with funding from Clave Capital 🇧🇷 to build a micro-mobility platform designed to provide vehicle rentals on an hourly basis. The company's platform helps users to reserve a vehicle, unlock the same with a smartphone, use it for as much time as they want, and return the vehicle.
Amigo Tech 🇧🇷 raised a $32 Million Venture round led by Riverwood Capital 🇺🇸 to build a healthcare enterprise platform intended to simplify the service routine and financial accounting management of healthcare professionals. The company offers a complete accounting system specialized for healthcare professional journeys and turns complex processes into simple, clear, and objective ones to increase productivity, enabling health professionals, clinics, and offices, to simplify flows and processes to serve more patients with quality.
Argentina's President Milei plans to visit Israel, showing support amidst the Gaza conflict. He announced this at a Holocaust remembrance event, highlighting Argentina-Israel relations. (Reuters)
Argentina's President Javier Milei commits to a free-market overhaul, planning privatization and job cuts in state sectors. His policies, aimed at economic recovery, have led to significant inflation and sparked widespread protests, challenging his government's stability. (Wall Street Journal)
Bolivia's Constitutional Court barred former President Evo Morales from running for re-election in 2025, reversing a previous ruling that allowed his fourth-term bid in 2019, citing term limits as essential for preventing power perpetuation. (France 24)
Brazilian police are investigating former intelligence chief Alexandre Ramagem, under ex-President Bolsonaro, for alleged illegal spying on politicians and public figures using Israeli surveillance software, following raids authorized by the Supreme Court. (Yahoo)
A Brazilian federal judge ordered BHP, Vale, and their Samarco joint venture to pay $9.7 billion for damages from the 2015 Fundão dam burst, which caused 19 deaths and severe environmental harm. (BBC)
Brazil is investing in attracting Muslim tourists, focusing on improving experiences in São Paulo by training hotel and restaurant workers and providing Muslim-friendly facilities and information. (Arab News)
Colombia recalled its ambassador to Argentina after President Javier Milei called Colombian President Gustavo Petro a "communist murderer," escalating tensions between the two leaders. Milei's remarks were deemed disrespectful by Colombia, worsening the already strained relationship. (Bloomberg)
🇨🇷 Costa Rica
In a dramatic twist, fugitive Kaitlin Armstrong, now serving a 90-year sentence for murder, was ingeniously captured in Costa Rica after U.S. Marshals cleverly baited her with a yoga instructor ad, playing into her known passions. (CBS)
Costa Rica's Supreme Court ruled that citizens can choose the order of paternal and maternal surnames on documents, a move celebrated for advancing gender equality and personal identity rights. (AP)
🇩🇴 Dominican Republic
Since 2009, 93 Americans have died following cosmetic surgery in the Dominican Republic, many from complications related to Brazilian butt lifts, according to a CDC report. (AP)
In Ecuador, escalating gang violence and a state of emergency are transforming daily life, with residents taking extra precautions and authorities intensifying their crackdown on crime. (Al Jazeera)
Ecuador's President Daniel Noboa is urgently seeking funds for the costly war against drug gangs, including plans to refinance debt, raise VAT, and delay shutting down an oilfield. (FT)
The US pledges aid to Ecuador in its battle against drug cartel terror, leading to a rally in Ecuadorian dollar bonds, as President Noboa intensifies efforts to control the crisis. (Bloomberg)
Ecuador's Constitutional Court blocked nine questions proposed by President Daniel Noboa for a referendum on security issues, citing non-compliance with constitutional standards, while approving six and reconsidering four others. (Reuters)
🇸🇻 El Salvador
El Salvador's Vice President Ulloa acknowledges errors in the gang crackdown but insists the country isn't a police state, defending the government's actions as legal and popular despite human rights concerns. (AP)
El Salvador's President Bukele, known for his tough stance on gangs, is poised for a landslide re-election win. Despite constitutional challenges and human rights concerns, his successful reduction of the country's high homicide rates has garnered widespread popular support. (Reuters)
After Congress's delay, anticorruption advocate Bernardo Arevalo was sworn in as Guatemala's president amid high expectations and public protests, marking a significant political shift in the country. (Al Jazeera)
Guatemala's Attorney General Consuelo Porras, amidst controversies and US sanctions, defies President Arévalo's call to resign, asserting her office's autonomy and independence in the face of political and legal challenges. (AP)
Mexico's next president will inherit Pemex, the world's most indebted oil company, with $106 billion in debt and significant bond maturities, posing a major economic and fiscal challenge. (Bloomberg)
U.S. and Mexican officials will reconvene in Washington, D.C., to continue discussions on collaborative strategies to manage the surge in migration, with a focus on long-term solutions and regional stability. (NBC)
A severe drought causing record-low water levels in Gatún Lake has forced the Panama Canal to cut its ship traffic by nearly 40%, impacting global shipping routes and increasing costs and emissions. (New York Times)
Amid escalating tensions in Peru, demonstrators fiercely blocked access to Machu Picchu, protesting against a controversial new private ticketing system. This intense standoff led to the urgent evacuation of hundreds of tourists, disrupting critical transportation services to the iconic site. (New York Times)
Uruguay's Ambassador to Buenos Aires, Carlos Enciso, received a caution from Foreign Minister Omar Paganini for attending a political event in Montevideo, violating rules against diplomats engaging in party politics. (Merco Press)
Venezuela and Guyana, meeting in Brazil, pledge peace in their dispute over the Essequibo region, emphasizing dialogue and avoiding military escalation. (Bloomberg)
The U.S. is reimposing certain sanctions on Venezuela, including those on its state-owned gold mining company, due to President Maduro's regime banning opposition candidates, threatening further sanctions if democratic conditions are not met. (ABC)
The U.S. is likely to reimpose some sanctions on Venezuela, mainly targeting gold exports, but may avoid tougher oil-related penalties, despite Maduro's failure to ensure free elections and democratic processes. (Bloomberg)
Venezuelan bonds suffered a significant drop after the U.S. threatened to reimpose sanctions due to President Maduro's failure to ensure open elections. This development casts uncertainty on Venezuela's potential increased weighting in JPMorgan indexes. (Bloomberg)
If you were forwarded this email and enjoyed it, make sure to subscribe at Dealflow.la :)