Dealflow.la #72 - Brazil Judge 🇧🇷 vs. Elon Musk 🇺🇸, Mexico 🇲🇽 ending diplomatic dies with Ecuador 🇪🇨 after embassy raid, & LEASY 🇵🇪 raises a $28M Series A.

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Apr 12, 2024

Funding

Foccuz 🇨🇱 raised a $700K Seed round with funding from MGV Capital 🇺🇸, Kuiper 🇲🇽, Invariantes Fund 🇬🇹, and CARABELA 🇲🇽 to build a business management platform intended to provide quality web design and creative development services. The company's platform automates commissions and compensation plans, eliminating errors and friction and providing clear actionable insights, enabling businesses to manage sales teams towards success.

Diio 🇨🇱 raised a $750K Pre-Seed round with funding from Fen Ventures 🇨🇱 to build a new AI-powered sales assistant, offers to sales teams. Using advanced machine learning algorithms, the company’s predicts the likelihood of closing a deal and provides real-time coaching, helping salespeople improve their performance.

Taxo 🇲🇽 raised a $1.2 Million Pre-Seed round with funding from Seedstars 🇨🇭, Newlin, BuenTrip Ventures 🇪🇨, and 500 Startups: Latam 🇲🇽 to build taxation software designed to create a tailored system for accountants. The company's software specializes in offering taxation, tracking, automation, and communication tools, and a client terminal as well as shares tax reports and invoices, and triggers email alerts, enabling accountants to communicate with their colleagues and clients and manage their work.

Lexter.ai 🇧🇷 raised a $3.11 Million Series A round led by Alexia Ventures 🇧🇷, with funding from Scale-Up Ventures 🇧🇷, Grão 🇧🇷, and Canary 🇧🇷 to build a bureaucratic analytical platform designed to interpret and revise contracts smartly. The company's platform uses artificial intelligence that interprets, analyzes, and reviews contracts to bring efficiency and reduce complexity, time and amounts spent in performing repetitive work so that the legal teams can dedicate themselves to more strategic and complex work, enabling clients to reduce the time taken in performing legal work.

Umgrauemeio 🇧🇷 raised a $3.64 Million Venture round with funding from The Yield Lab LATAM 🇦🇷, Rural Ventures 🇧🇷, Indicator Capital 🇧🇷, and Baraúna Venture Capital 🇧🇷 to build a climate tech company intended to make advancements in forest fire prevention and environmental protection. The company provides a centralized platform and a team of experts in various fields, including engineering, data science, forestry, and law, to address environmental challenges, enabling clients to mitigate forest fires and minimize their environmental impact.

GoFlux 🇧🇷 raised a $5.84 Million Series A round led by Capria Ventures 🇺🇸, with funding from The Yield Lab LATAM 🇦🇷, SP Ventures 🇧🇷, Reflect Ventures 🇺🇸, Blue Impact 🇺🇸, and Arrebol Capital 🇨🇴 to build a SAAS marketplace platform designed to connect companies and service providers. The company's platform allows companies to connect to service providers such as carriers and logistics operators and gives transparency to the process of quotation and contracting of transport, enabling shippers, transporters, and suppliers to boost the business.

Koin 🇧🇷 raised a $7.3 Million Debt Financing round led by Banco Itau 🇧🇷 to build a post-pay application designed for the purchase of products online through tickets. The company's application offers security by requiring payment in money only after receiving the product, thereby enabling users to have confidence in online stores and companies to ensure consumer satisfaction.

InstaCarro 🇧🇷 raised a $10.7 Million Venture round led by Fasanara Capital 🇬🇧, with funding from Rise Capital 🇺🇸, J Ventures 🇺🇸, and FJ Labs 🇺🇸 to build an online car-selling marketplace intended to allow individuals to sell their used cars directly to professional traders. The company's marketplace gives the advantage of instantaneous payouts and offers online access to a large stock of previously inspected cars, transparency with detailed photos and reports, and an immediate return guarantee if a purchased car is in different conditions from those reported, enabling consumers to buy a used car at affordable prices with the convenience of online quotes.

Advolve AI 🇧🇷 raised a $14.59 Million Pre-Seed round led by Valor Capital Group 🇺🇸 and Lanx Capital 🇧🇷, with funding from VERVE CAPITAL 🇧🇷, Veredas Partners 🇧🇷, Mira Capital 🇧🇷 to build a marketing platform intended to maximize return on ad spend (ROAS) through data-driven marketing and experimentation. The company offers marketing automation and AI-powered creative generation, enabling clients to scale their performance marketing efforts.

Akad Seguros 🇧🇷 raised a $22.5 Million Series A round led by Valor Capital Group 🇺🇸, with funding from Scale-Up Ventures 🇧🇷, Endeavor Catalyst 🇺🇸, Actyus 🇪🇸, and Across Capital 🇺🇸 to build an insurance company intended to cater to the needs of individuals and businesses. The company specializes in offering a wide range of coverage including cargo, professional liabilities, financial lines and cybersecurity, thereby ensuring its clients cover eventual failures efficiently.

LEASY 🇵🇪 raised a $28 Million Series A round led by Magma Partners 🇺🇸, with funding from Noa Capital 🇬🇧, Entangled Group 🇺🇸, DeBa Ventures 🇱🇺, and CAPEM (Grupo Capital Empresarial) 🇲🇽 to build a car subscription services intended to help customer own their dream car. The company uses its algorithm and trustworthy evaluators to analyze users' profiles and find suitable cars, enabling customers to enter into a contract to own a vehicle.

Sociopolitical News

🇦🇷 Argentina

Eduardo Costantini, the Argentine real estate mogul behind Consultatio SA, intends to invest $1.5 billion in four new gated community projects across Paraguay, Uruguay, Argentina's Patagonia, and Buenos Aires province. Known for pioneering the gated community concept in Argentina, particularly with the expansive Nordelta project near Buenos Aires, Costantini's ventures also span into Miami, USA, and Uruguay. (Bloomberg)
In Buenos Aires, police clashed with protesters rallying against President Javier Milei's austerity measures, using water cannons to disperse crowds blocking a major thoroughfare, leading to eight arrests amid escalating anti-government protests. (AP)
President Javier Milei of Argentina begins a US tour, planning to meet Elon Musk amid seeking financial aid to revamp Argentina's economy, highlighting his efforts to strengthen ties with the US and attract investment. (AP)
HSBC is selling its Argentina business to Grupo Financiero Galicia for $550m, taking a $1bn loss due to struggles with the country's volatile exchange rate and hyperinflation, marking a strategic pivot to focus on higher-value opportunities elsewhere. (BBC)
Argentina's central bank reduced its benchmark interest rate to 70% from 80%, signaling government confidence in curbing the country's annual inflation rate of over 275% under President Javier Milei's economic reforms. (Reuters)

🇧🇴 Bolivia

Bolivia's hunt for gas in Tariquía reserve, under President Luis Arce's government, ignites conflict within communities, as the nation's dependency on fossil fuel exports for leftist agendas faces economic downturns and environmental concerns. (The Guardian)

🇧🇷 Brazil

The Green Bay Packers will face the Philadelphia Eagles in the NFL's first regular-season game in Brazil, at Corinthians Arena in Sao Paulo, a venue with an informal ban on the color green due to local soccer rivalries. (The Guardian)
From 2025, US, Canada, and Australia travelers must present bank statements for a Brazilian visa, reflecting stricter entry requirements and a reciprocity principle with visa costs and financial proof mandates. (CNN)
Brazil's Supreme Court emphasizes all companies, including Elon Musk's X, must adhere to the constitution amid an inquiry into Musk for challenging a court order, underscoring the judiciary's role in safeguarding national institutions and laws. (Reuters)
Brazil's Supreme Court unanimously ruled that the military lacks constitutional authority to mediate disputes between government branches, countering claims by former President Jair Bolsonaro and his supporters, and reinforcing democracy against the backdrop of potential military interventions. (AP)
During a visit to Brazil, French President Emmanuel Macron and Brazilian President Luiz Inacio Lula da Silva showcased a strong friendship, jokingly compared to a wedding by social media and Macron himself, highlighting the deep affection and cooperation between France and Brazil. (BBC)
A Brazilian court suspended a $3 million fine against Neymar for constructing an artificial lake at his mansion without an environmental license, ruling the project didn't require special permits, thus avoiding undue financial and legal prejudice. (France 24)
Elon Musk disclosed that the House has initiated an inquiry into X's (formerly Twitter) operations in Brazil, following Musk's refusal to block Brazilian MPs and journalists as per judicial demands, escalating a conflict over free speech and legal compliance. (The Hill)

🇨🇱 Chile

Tianqi Lithium's $4 billion investment in Chile's SQM, aimed at securing a significant position in the global lithium market, faces uncertainty as President Gabriel Boric pushes for more state control over lithium resources, potentially diminishing Tianqi's stake and influence in SQM's lucrative lithium segment. (FT)
Chilean economists anticipate the central bank will decrease the key interest rate by 50 basis points to 6% in May, amidst inflation concerns fueled by an 8% drop in the peso this year. (Bloomberg)
Chile's President Gabriel Boric recalled the ambassador from Venezuela for discussions following Venezuelan Foreign Minister Yvan Gil's comments downplaying the criminal group Tren de Aragua, sparking concerns over the dismissal of the gang's serious crimes. (US News)
German Foreign Minister Annalena Baerbock highlights trade with Chile, especially in raw materials like copper and lithium, as crucial for reducing Germany's dependence on China and enhancing security through diversification. (Yahoo)

🇨🇴 Colombia

Colombian police arrested a 73-year-old American, known as "Cannabis Jimmy," for hosting $30 "cannabis tours" in his home, where he educated visitors on marijuana cultivation and offered "free samples," highlighting Colombia's ongoing battle with drug control. (CBS)
Bogota, Colombia, will implement water rationing due to droughts from El Nino, affecting over 9 million people as reservoir levels drop to their lowest in decades, highlighting urgent conservation needs amidst a global climate crisis. (Reuters)
Former Colombian President Álvaro Uribe is set to become the first in the country to face trial for procedural fraud and bribery, amid a long-standing witness-tampering scandal linked to right-wing paramilitary groups. (Washington Post)
Colombia's ELN rebels have called for an urgent meeting to address the "critical state" of peace talks with the government, aiming to revive efforts to end the country’s long-standing conflict. (Reuters)
Colombia's President Gustavo Petro is negotiating a deal for state-run Ecopetrol SA to develop oil and gas in Venezuela, aiming to enhance bilateral energy cooperation despite recent political tensions between the two countries. (Yahoo)

🇩🇴 Dominican Republic

Haitians hoping to stock up on supplies are flocking to the border with the Dominican Republic as tensions remain high over continued political instability and gang violence. (CBS)

🇪🇨 Ecuador

Ecuador, once a tourist haven, now battles with gang violence, leading to the highest murder rate in Latin America. The shift was fueled by the country becoming a global hub for drug trafficking, with gangs like "Cannabis Jimmy's" intensifying the violence through turf wars and contributing to societal fear and governmental challenges. (BBC)
Mexico has requested the UN to expel Ecuador following a police raid on the Mexican embassy in Quito, where Ecuadorian authorities arrested former Vice-President Jorge Glas, who was seeking asylum. Mexico's President López Obrador demands an apology, reparations, and a pledge against repeat actions, escalating diplomatic tensions over asylum and international law disputes. (The Guardian)
Former Ecuador Vice President Jorge Glas, recently extracted from the Mexican Embassy, is under hospital observation but expected to return to prison soon amid escalating tensions between Ecuador and Mexico over his asylum and subsequent arrest, highlighting diplomatic and justice system disputes. (Bloomberg)
Mexico ends diplomatic ties with Ecuador following a police raid on its embassy in Quito to arrest former Vice President Jorge Glas, who was seeking asylum. The extraordinary action has drawn international condemnation and concerns over violations of the Vienna Convention on Diplomatic Relations. (NBC)

🇬🇹 Guatemala

Guatemala's President Bernardo Arévalo, during a visit to Washington, stressed the need for U.S. economic investment in Guatemala to address the root causes of migration, rather than relying on aid alone, advocating for job creation to allow Guatemalans the "right to stay." (CBS)

🇲🇽 Mexico

During President López Obrador's term, Mexico's five wealthiest individuals amassed an additional $79 billion, despite his campaign against economic elites. The strong peso and a lack of significant measures against monopolistic practices contributed to their increased fortunes, challenging AMLO's populist stance and highlighting the gap between rhetoric and economic realities. (Bloomberg)
Mexico's President López Obrador expressed dissatisfaction with the first presidential debate, criticizing its focus on issues he claims to have resolved, like corruption, and its lack of acknowledgment of his administration's accomplishments. He also noted the debate didn't adequately defend his legacy, indicating tensions within his party and concerns over the portrayal of his government's achievements. (ABC)
US officials secretly met with Venezuelan representatives in Mexico to discuss democratic reforms and the potential reinstatement of oil sanctions, with US-backed Colombian President Gustavo Petro mediating. The talks aim to navigate electoral conditions amid Venezuela's upcoming presidential election and the barring of opposition candidates, highlighting the complex geopolitical and economic stakes involved. (Bloomberg)

🇺🇸 Miami

Apple is set to expand its presence in Miami, securing 45,000 square feet of office space in Coral Gables, joining other tech giants like Amazon and Microsoft in enhancing their operations in South Florida, reflecting the region's growing appeal to big businesses and the ultra-wealthy. (Bloomberg)

🇳🇮 Nicaragua

Nicaragua has petitioned the International Court of Justice to order Germany to cease its military arms exports to Israel and to restart funding for the UNRWA, citing serious risks of genocide in Gaza and alleging Germany's violation of the 1948 Genocide Convention by supplying arms to Israel. (Reuters)

🇵🇪 Peru

Peru retracted its visa requirement for Mexican tourists, initially a countermeasure to Mexico's visa imposition on Peruvians, due to the tourism sector's concerns, showcasing the complex dynamics of international travel and immigration policies. (Bloomberg)

🇺🇾 Uruguay

Uruguay's central bank reduced its key interest rate by 50 basis points to 8.5% amidst a significant slowdown in inflation, aligning monetary policy to target mid-range inflation and support economic growth, marking a pivot back to an easing cycle in response to stabilizing consumer prices. (Bloomberg)

🇻🇪 Venezuela

Tareck El Aissami, Venezuela's former oil minister and a key Maduro ally, has been arrested on corruption charges, along with former economy minister Simón Zerpa and businessman Samark López, accused of embezzling from the state oil company, PdVSA. (BBC)
A poll suggests 40% of Venezuelans might leave if Maduro wins July's election, highlighting the despair under his rule, with 7.7 million already fled, mainly to Colombia and the U.S. (Miami Herald)
US senators urge reinstating sanctions on Venezuela, criticizing Maduro's suppression of opposition before the July election, highlighting the barring of candidate Maria Corina Machado. (Bloomberg)

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