Dealflow.la #82 - Mendel 🇲🇽 Raises $35M Series B, Saudi Aramco 🇸🇦 Acquires Primax 🇵🇪, & Brazil's Supreme Court Weighs Bolsonaro Trial.

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Funding

BiiU 🇲🇽 raised a $2.1M Pre Seed round with funding from a strategic investor 🇲🇽 to create a dynamic learning professional network that centralizes work and educational experiences for everyone. The platform streamlines access to professional development resources, connects talent with career opportunities, and fosters a collaborative community where continuous learning meets real-world application.

Voa Health 🇧🇷 raised a $14.4M Seed round with funding from Prosus Ventures 🇳🇱 to develop an AI-driven platform that optimizes medical documentation. The startup's technology processes unstructured data from exams and patient-professional interactions, streamlining medical records and automating administrative tasks, which helps the healthcare industry boost operational efficiency and elevate the quality of care.

Mendel 🇲🇽 raised a $35M Series B round with funding from Base10 Partners 🇺🇸, PayPal Ventures 🇺🇸, and Infinity Ventures 🇺🇸 to build an expense management software that optimizes corporate spending oversight. The platform offers decentralized reporting, automated classification, real-time transaction tracking, and policy-based controls, simplifying workflows, reducing fraud, and ensuring compliance while delivering greater financial transparency for organizations.

Acquisition News

• Saudi Aramco 🇸🇦 acquired Primax 🇵🇪, a fuel distributor operating across Peru, Colombia, and Ecuador with a network of 2,185 gas stations, to expand its presence in Latin America’s downstream fuel distribution market and leverage Primax’s extensive retail network for further regional growth.

Startup & VC News

• Prometeo 🇺🇾 announced the launch of its Borderless Banking solution to accelerate B2B cross‑border payments between the U.S. and Latin America, aiming to simplify financial operations and enhance transparency in a region where only 30% of payments are digitized. The fully automated, API‑driven platform enables local account access, automates collections, and provides real‑time tracking of fund movements—addressing a critical gap as regional trade expands. (Business Wire)(PYMNTS)

Sociopolitical News

🇦🇷 Argentina

• Macron and Milei’s dialogue signals a potential economic pivot for Argentina, centering on the strategic exploitation of critical metals. The discussions hint at renewed international collaboration and a shift in policy priorities that could drive industrial modernization and resource-backed growth. (Ámbito Financiero)

• Mass protests against dictatorship denialism underscore deep societal divisions in Argentina. Tens of thousands rallied to reject revisionist narratives linked to Milei, reflecting widespread mobilization to preserve historical memory and confront political extremism. (EL PAÍS Argentina)

🇧🇷 Brazil

• The Brazilian Supreme Court's ruling on whether to try former President Jair Bolsonaro for his alleged coup plot is a pivotal moment for Brazil’s democracy. The decision, which could lead to a trial for Bolsonaro and seven allies on charges including coup attempt and other serious offenses, may reshape the country's political landscape and serve as a critical test of judicial independence. (LA NACION) (Clarín)

• Companies report a significant deterioration in Brazil’s economic outlook, signaling mounting uncertainty and increased business costs. Business sentiment has notably worsened compared to previous quarters, with many firms now forecasting higher input costs and tighter margins in the coming year. (Folha de S.Paulo) (Valor Econômico)

🇨🇱 Chile

• President Gabriel Boric champions long-term projects and institutional stability as essential to sustaining public policies amid Chile’s fast-paced political turnover. He cautioned against drastic “chainsaw” reforms that risk short-term gains over enduring development and stressed the need for international cooperation to counter global challenges. (BioBioChile) (MercoPress)

🇨🇴 Colombia

• Over half of Colombia’s financial experts expect a 25 basis point rate cut, a move that could ease borrowing costs and spur economic activity. This sentiment comes ahead of the March 31 meeting of the Banco de la República, as analysts point to the need for gradual monetary easing amid persistent inflation pressures. (La República) (Reuters)

• Persistent uncertainty continues to weigh on Colombian business performance, signaling an urgent need for strategic reforms to boost investor confidence. While current indicators show moderate growth and improvements in some sectors, business leaders remain cautious about short-term prospects due to ongoing challenges such as security issues, legislative reforms, and geopolitical tensions. (La República) (El Heraldo)

• Colombia’s rapid debt surge endangers its fiscal sustainability and long-term growth. The OCDE Global Debt Report 2025 shows that by December 2024, Colombia’s external debt reached USD201.764 billion—48.2% of GDP—primarily driven by extensive public subsidies, diesel support, and tax exemptions, while new dollar-denominated bonds yield around 8% amid rising fiscal pressures. (La FM) (El Heraldo)

🇨🇷 Costa Rica

• Costa Rica’s financial regulator is tackling a cultural “taboo” on cyberfraud to boost digital security. The initiative aims to enhance consumer protection and modernize regulatory practices amid rising cyberattacks targeting banks and digital transactions. (IUPANA) (El País CR).

• Fitch Ratings’ upgrade of Costa Rica’s outlook to positive and the maintenance of its 'BB' sovereign rating boost the nation’s credibility amid a strong economic performance. The move reflects robust growth, improved fiscal discipline, and confidence in the country’s resilience despite ongoing political challenges ahead of the next elections. (La República) (Reuters)

🇩🇴 Dominican Republic

• The Dominican Republic is emerging as a key investment hub due to its political stability, economic growth, and strategic location for nearshoring. President Luis Abinader highlighted the nation's favorable business environment and its role in strengthening global supply chains during the 2025 Latin American Cities Conferences. (Dominican Today)

🇪🇨 Ecuador

• Trump’s meeting with Ecuador’s President Noboa in Florida ahead of a pivotal runoff election signals a strategic realignment amid regional security challenges. Noboa, who has aggressively targeted gang violence and is courting U.S. military and trade support, faces a tough re-election while seeking to deepen bilateral ties that could reshape domestic and international policy. (Reuters) (Voice Asia News)

• Ecuador’s presidential candidate Daniel Noboa vows to convene a constituent assembly to drive deep reforms aimed at strengthening security and boosting economic stability. He stressed that the move isn’t for political show but is urgently needed to update laws—including mandatory pretrial detention for terrorism suspects and clearer definitions of maritime robbery—to restore citizen trust and order. The reform would follow the current constitutional process via a popular consultation. (El Universo) (El Comercio)

🇸🇻 El Salvador

• El Salvador's Supreme Court is petitioned to review the legality of detaining Venezuelan deportees. A group of Salvadoran lawyers representing the families of 30 Venezuelans is challenging the legality of their detention after they were deported from the U.S. to a prison in El Salvador. (CNN Español)

🇬🇹 Guatemala

• Guatemala scrapped a controversial compulsory car insurance plan after nationwide protests involving street blockades and clashes with police. The policy reversal highlights public resistance to perceived overreach in regulatory measures affecting daily life. (BBC)

🇭🇳 Honduras

• Hundreds of Hondurans rallied to defend democratic processes amid fears that President Xiomara Castro’s government is manipulating the political system to extend its hold on power. Protesters, dressed in white and waving national flags, decried alleged efforts by the ruling party to engineer electoral outcomes, drawing comparisons to authoritarian regimes. (Infobae) (Barron's)

🇲🇽 Mexico

• Fitch Ratings warns that Trump's tariffs will pressure Mexican banks' profits and increase credit costs. The agency anticipates instability, lower profit margins due to lower rates, and loan deterioration. (El País)

• Mexico's Central Bank (Banxico) cut the interest rate by 50 basis points to 9%. This decision acknowledges both the deceleration of inflation and the weakness of the Mexican economy, further threatened by potential US tariffs. (El Norte)

🇳🇮 Nicaragua

• Nicaragua’s government under Ortega dissolves 10 non-governmental organizations, including the Swiss Foundation, further tightening its control over civil society. The state justified the closures citing administrative non-compliance—such as failure to submit financial reports—and added these dissolutions to over 5,600 NGO shutdowns since the 2018 protests, highlighting a sustained crackdown on independent institutions. (DW Español) (Infobae América)

• Former Panamanian President Ricardo Martinelli is set to leave the Nicaraguan embassy in Panama and be transferred to Managua before March 31. The Panamanian government granted Martinelli safe passage for humanitarian reasons, and he will be accompanied by Nicaraguan diplomats and Panamanian police for security. (El Universal)

🇵🇦 Panama

• Panama reaffirms its sovereignty by declaring it will never host U.S. military bases again, underscoring its commitment to national independence and neutrality. The Panamanian president dismissed U.S. threats concerning the interoceanic canal, emphasizing that all security and military presence will remain exclusively under Panama’s control. (El Economista) (EFE Latam)

• Chinese pressure forces Li Ka-shing to delay a major sale of Panama Canal ports, spotlighting a geopolitical tug-of-war that could reshape global trade routes. The postponement underscores Beijing’s drive to safeguard national interests amid U.S. security concerns, potentially affecting the management of strategic port assets worldwide. (El Financiero)

🇵🇾 Paraguay

• Paraguayan farmers and indigenous communities marched to demand the promotion of an Agrarian Reform Law. The march, the 31st of its kind, seeks to address the lack of government policies supporting food production, amidst concerns that a small percentage of families control most of the cultivable land. (teleSURtv)

🇵🇪 Peru

• Peru is set to transform its agricultural sector with a $24 billion irrigation initiative, positioning its farming future for sustainable growth. The government’s ambitious program, comprising 22 projects that will expand farmland by nearly one million hectares, aims to boost agro-exports and eventually shift economic dominance from mining to agriculture by 2050. (Reuters)

🇻🇪 Venezuela

• The Venezuelan Bolivar plummets to historic lows amid concerns over new US tariffs on Venezuelan oil. The tariffs, enacted by the Trump administration, are aimed at pressuring the Maduro regime but are causing economic instability as major oil buyers reduce shipments. (Infobae)

• 178 Venezuelan migrants deported from the U.S. arrived in Caracas. This is the second group of repatriates after the resumption of transfers announced last week. (Milenio)

• The U.S. deployment of a destroyer in the Esequibo underscores a dramatic intensification in regional security tensions with Venezuela. The maneuver accompanies stern warnings of repercussions if Venezuelan forces engage aggressively, further heightening geopolitical uncertainties. (El Mundo) (Radio Arandú)

🇺🇸 Miami

• Florida's Speaker of the House proposes cutting the state sales tax from 6% to 5.25% to increase affordability for residents. The proposed cut aims to save Floridians nearly $5 billion annually but would necessitate finding ways to offset the state revenue loss. (Axios Miami)

• Miami-Dade County Mayor Daniella Levine Cava met with recently released Nicaraguan political prisoners to offer support. The mayor pledged to expedite their political asylum process and urged the community to provide assistance, particularly with housing, as many lack family in the U.S. (CBS News Miami)

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