Dealflow.la #84 - Merama 🇧🇷 Raises $215M to Dominate LatAm E-Commerce, Ecuador 🇪🇨 Votes in Polarizing Runoff, & Dominican Republic 🇩🇴 Mourns Jet Set Tragedy.

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Funding

MT Bank 🇧🇷 raised an $828K Venture Round with funding from Hiker Ventures 🇧🇷 to simplify financial operations for small and medium-sized enterprises (SMEs). The company integrates payment processing, tax management, and accounting services into a unified platform, helping entrepreneurs focus on sustainable business growth.

MejorCDT 🇨🇴 raised a $1M Seed Round with funding from Y Combinator 🇺🇸, Harvard University Endowment 🇺🇸, Raisin 🇩🇪 and Yango Ventures 🇦‍🇪 to build a digital marketplace for fixed‑term bank deposits (CDTs) in Latin America, enabling individuals and businesses to compare, invest, and withdraw funds seamlessly through a transparent, user‑friendly platform that has processed over $30M in deposits since its 2021 launch.

Agonalea Games 🇦🇷 raised a $2M Seed Round with funding from Mika Games 🇨🇾 to develop hybrid-casual mobile games that blend sub-genres to deliver unique gaming experiences. The company aims to evoke childlike wonder, spark joy, and foster meaningful connections through innovative gameplay, with its flagship title Punko.io achieving above-market retention rates comparable to industry hits like Candy Crush Saga and Brawl Stars.

GOPASS 🇨🇴 raised an $8M Series A Round with funding from Qualcomm Ventures 🇺🇸 and K Fund 🇪🇸 to build a financial software application that powers contactless payments for parking and toll services. The platform secures digital transactions without requiring cash or physical cards, enabling drivers to pay seamlessly and safely on the go.

Merama Inc. 🇲🇽🇧🇷 raised a $215M funding Round (including $45M in equity and $170M in debt financing) with funding from Marcel Telles 🇧🇷, Advent International 🇺🇸, SoftBank Group Corp. 🇯🇵, Valor Capital Group 🇧🇷, Monashees Capital 🇧🇷, Balderton Capital 🇬🇧, BTG Pactual 🇧🇷, Citi 🇺🇸, and Itaú Unibanco 🇧🇷 to consolidate and expand leading direct-to-consumer e-commerce brands across Latin America and the U.S. The company empowers founders by allowing operational control while leveraging Merama's expertise in marketplace management, logistics, and technology to create category-leading brands focused on growth and efficiency.

Acquisition News

• Axeptio 🇫🇷 acquired AdOpt 🇧🇷, a Brazilian platform for LGPD compliance and consent management supporting over 50,000 websites—including Caixa Econômica Federal, Nike, Reebok, LEGO, Crocs, Ajinomoto, and Kipling—with intuitive self‑service and high‑touch solutions to accelerate its international expansion into Brazil’s key consent management market by leveraging AdOpt’s strong local brand recognition and expertise, and to integrate advanced Consent Mode v2 and TCF functionalities for global compliance.

• RBR Asset 🇧🇷 acquired Homelend 🇧🇷, a fintech specializing in real estate credit and industrialized housing construction, to expand its portfolio in structured financing for prefabricated homes and strengthen its presence in the Brazilian real estate market.

Startup & VC News

• Círculo de Crédito 🇲🇽 and Seedstars 🇨🇭 announced the launch of the Trust‑Tech Fund to boost digital trust startups in Latin America to strengthen the region’s digital credit ecosystem by accelerating solutions in identity verification, fraud prevention, and AI‑driven risk assessment. The fund will select five early‑stage startups, investing $50K in each and providing tailored acceleration, mentorship, and integration with Círculo de Crédito’s infrastructure to scale innovative Trust‑Tech ventures across the market. (LinkedIn – Círculo de Crédito)

• Yango Ventures 🇦🇪 announced the launch of a $20M corporate venture fund to empower early-stage tech startups across emerging markets, focusing on O2O, B2B SaaS, and FinTech ventures from Seed to Series B to drive digitalisation and inclusive economic growth. The fund will provide capital, hands‑on mentorship, and access to Yango Group’s global network—targeting 10–20× returns on Series A deals and backing 100–200 startups with investment tickets of $50K–$200K—and has already made its first local investment in Colombian fintech MejorCDT. (Arabian Business)(Forbes Colombia)

• Start Growth 🇧🇷 announced a $3M USD investment round to accelerate startups in five strategic sectors—HRtechs, Fintechs, Edtechs, Database, and Martechs, aiming to support companies that have validated their products but face scaling challenges. The initiative offers investments ranging from $100K to $200K per startup, potentially reaching $600K with co-investment partners. Selected startups will also receive mentorship and operational support through the Start Growth Method, a framework designed to enhance business models and operational efficiency. Applications are open until April 7, and the program emphasizes innovation, scalability, and market potential. (GazzConecta) (Baguete)

• Artu 🇲🇽 announced an AI‑driven platform automating 100% of compliance for vulnerable activities and fintechs to curb corporate corruption and unlock innovation, reducing manual compliance burdens—often consuming 25% of revenues—at 15× lower cost in a region where corruption costs over 5% of GDP. (LinkedIn)

• Payana 🇨🇴 announced its expansion in Mexico after rebranding from Higo to strengthen its position as a leading AI-driven financial automation platform in LatAm. With over 1.5K companies using its services, Payana aims to reach 4K businesses in Mexico, offering tools that cut accounting update times by 90% and treasury errors by 95%. Backed by regional and U.S. investors, this move highlights growing demand for intelligent financial solutions in the region. (La República) (Pulzo)

Sociopolitical News

🇦🇷 Argentina

• Argentina secures $42B in international financing to stabilize its economy and back austerity reforms. The IMF’s 48‑month, $20B bailout includes an immediate $12B disbursement, while the World Bank and IDB pledged $22B—with $1.5B released upfront for social protections and growth. Lifting strict currency controls helped achieve the first budget surplus in a decade and cut inflation to 55.9%, though critics warn of persistent inequality and trade‑shock risks. (IMF) (World Bank) (Reuters) (DW)

• Milei’s regulatory shift to align with Trump’s tariffs could pave the way for a free‑trade agreement and secure a $20B IMF bailout. By reframing the 10% duty on Argentine imports as preferential treatment, his government has met nine of 16 prerequisites for a pact, even as austerity curbs hyperinflation but fuels unemployment and poverty amid backlash over a failed Mar‑a‑Lago meeting with Trump. (CBS News) (Intellinews) (BATimes) (Ara)

🇧🇷 Brazil

• Brazilian health regulator Anvisa's consultation on RDC 327/2019 could expand cannabis prescriptions and increase patient access. The draft allows dentists to prescribe, adds buccal, sublingual, and dermatological routes, and lets compounding pharmacies make CBD medicines, aiming to fill regulatory gaps and streamline processes for 430K patients until June 6, 2025. (Mattos Filho) (Demarest) (Souto Correa)

• Brazil's robust $355.6B reserves and economic policies enable it to withstand U.S. tariffs imposed by Trump. President Lula highlighted financial stability through credit access and wage growth, while criticizing Trump's trade policies as destabilizing and reaffirming Brazil's commitment to self-reliant growth. (Mercopress) (Agência Brasil) (Brasil247)

• Mercado Libre plans a record $5.8B investment in Brazil to expand logistics and technology infrastructure in 2025. This 48% increase from the previous year aims to strengthen its e-commerce and fintech operations, create 14,000 jobs, and solidify its position in Brazil, which represents over half of its revenue. (Investment Monitor)

🇨🇱 Chile

• BHP's $13B copper mining expansion in Chile depends on faster permitting reforms to meet surging global demand and stay competitive. Investments include a $2.3B Laguna Seca upgrade and a potential 2028 Cerro Colorado restart, but slow approvals threaten Chile’s position as demand rises 70% by 2050. President Boric’s reforms aim to cut permitting timelines by one-third by 2026, though environmental groups worry about weakened protections. (Panorama Minero) (Mining.com) (Discovery Alert) (The Bull)

🇨🇴 Colombia

• The MSCI Colcap index, Colombia's stock market benchmark, rose 3.15% to 1,601.60 points after President Trump paused certain tariffs, boosting investor optimism. Year-to-date gains stand at 16.09%, with support at 1,540 points, resistance at 1,630 points, and trading volume reaching COP 250.992B (≈USD 162M at 1,546.98 COP/USD). (Valora Analitik) (Reuters)

• Colombia’s energy regulator approved CREG Resolution 101 072, creating “energy communities” to collectively generate, consume, and sell renewables, aiming to add at least 1 GW of capacity and reduce bills for underserved households. The framework lets geographically dispersed users pool solar generation across both the National Interconnected System and non‑interconnected zones, pairs subsidies for panels with low‑interest, no‑collateral loans, and opens new income streams from surplus sales. (PV Magazine) (América Economía)

• Colombia’s pension reform introduces a four-pillar system to expand coverage and address inequities but faces challenges ahead of its July 2025 implementation. The new system restructures contributions between public and private administrators, with employers facing increased obligations for contractor contributions. Concerns over regulatory readiness, technological upgrades, and constitutional challenges remain. (Cambio Colombia) (Lockton) (Finance Colombia)

🇨🇷 Costa Rica

• Costa Rica's Central Bank keeps its monetary policy rate at 4%, citing low inflation and strong domestic growth amid global uncertainty. February 2025 saw a 4.1% economic expansion, outpacing historical averages (3.8%) and trading partners' 2024 growth (2.6%), while inflation is expected to return to the 2-4% target by Q3 2025. (La República) (Banco Central de Costa Rica)

• Costa Rica is constructing a $35M, 5,000-inmate "megaprison" modeled after El Salvador’s CECOT to combat surging gang violence and overcrowding, sparking debates over human rights risks. The facility, set for completion by 2026, aims to address Costa Rica’s record homicide rates (880 in 2024) and prison occupancy at 118.75%, leveraging architectural plans from El Salvador’s government to cut costs. (Bloomberg Línea)

🇩🇴 Dominican Republic

• The Jet Set nightclub roof collapse in Santo Domingo on April 8, 2025, killed 226 people, marking the Dominican Republic’s deadliest structural failure. The tragedy occurred during a packed merengue concert by Rubby Pérez (among the fatalities), with victims including ex-MLB players Octavio Dotel and Tony Blanco, a provincial governor, and 25 Venezuelans. Rescue efforts shifted to recovery within 24 hours, as President Abinader declared six days of mourning while forensic teams used biometrics to identify victims. The cause is under investigation. (Diario Libre) (AP News)

• The Dominican government has approved a $2.03M subsidy to maintain stable prices for four essential fuels during April 12–18, 2025. This weekly measure by President Luis Abinader’s administration seeks to shield households and productive sectors from international price volatility—following a $8.5M subsidy for five fuels in the prior week. (Presidencia de la República Dominicana) (Diario Libre)

🇪🇨 Ecuador

• Ecuador's country risk index surged to 1,840 points on April 8, 2025, reflecting heightened political and economic uncertainty ahead of the presidential runoff election. This marks an increase of over 800 points since February, driven by market concerns over the tight contest and falling oil prices, which are critical to Ecuador's economy. (El Comercio)

• Ecuador's presidential runoff on April 13 features incumbent Daniel Noboa against leftist Luisa González in a polarized race amid security and economic crises. Noboa advocates neoliberal reforms and anti-crime policies, while González supports state intervention and aligns with Rafael Correa’s legacy. Polls show a technical tie, with undecided voters as key. (AS/COA) (BBC) (AP News)

🇸🇻 El Salvador

• El Salvador will inject $1B into its economy to boost growth and support MSMEs under an IMF agreement. Equivalent to 2.8% of GDP, the funds will come from foreign currency markets to avoid inflation, focusing on advance payments, debt repayment, and economic stability, though critics note only $700M in confirmed financing. (El Salvador) (Newsweek Español)

🇬🇹 Guatemala

• Guatemala's government and private sector united to negotiate with the U.S. over new 10% tariffs on exports, aiming to avoid economic harm and a tariff war. The tariffs, invoking U.S. emergency powers, threaten $4.6B in 2024 exports and may violate the DR-CAFTA agreement. (República) (Latam FDI)

🇭🇳 Honduras

• The IX Summit of CELAC in Honduras highlighted regional integration and cooperation. Leaders from 33 countries addressed economic cooperation, climate change, food security, and migration, with Colombia assuming the presidency pro tempore to promote unity and global engagement. (Prensa Latina) (TeleSUR) (Swissinfo)

• The IMF has reached a staff-level agreement with Honduras for the third review of its ECF and EFF arrangements. If approved in June, this deal could unlock $155M to bolster Honduras' economic resilience and reforms, focusing on fiscal policies, social spending, energy sector improvements, and anti-corruption measures. (IMF) (Reuters)

🇲🇽 Mexico

• Mexico has agreed to accelerate water deliveries to Texas under a 1944 treaty after U.S. President Trump threatened tariffs and sanctions over noncompliance. Facing a historic drought, Mexico had delivered less than 30% of its required water quota, prompting diplomatic tensions as both nations grapple with climate-driven water shortages and rising agricultural demands. (UPI) (Axios) (Reuters)

• Mexico City’s legislature approved a 2025 Fiscal Code reform to enhance public finances, introduce environmental taxes, and strengthen transparency. The reform includes a MX$58/t CO₂ tax, updates cadastral registries, and mandates property declarations for homes valued over $221K, sparking privacy concerns among real estate groups and PAN legislators. (Congreso de la Ciudad de México) (El Economista) (Uno TV)

🇳🇮 Nicaragua

• Nicaragua is poised to deepen its economic and technological ties with China by expanding cooperation with Chinese companies. President Ortega announced that Nicaragua will broaden partnerships with Chinese firms across sectors such as technology, infrastructure, and energy to leverage Chinese investment and expertise for national development (DW).

• In a related move, during a meeting with Huawei executives on April 9, 2025, Ortega reaffirmed the country’s willingness to deepen collaboration with Chinese technology companies, highlighting Managua’s strategic pivot toward Beijing to boost infrastructure and digital connectivity growth (Reuters).

• Nicaragua’s Ortega regime is escalating its crackdown on Catholic Holy Week processions by deploying thousands of police to enforce an unofficial ban on public religious celebrations. Clergy report threats of arrests for outdoor processions, forcing events indoors under surveillance, amid years of repression with 3000 processions blocked in 2022 and nearly 1000 attacks on Catholics since 2018. (Infobae)

🇵🇦 Panama

• Panama risks losing its investment-grade credit rating due to a 2024 deficit of 7.4% of GDP and delayed Social Security Fund reforms. Finance Minister Felipe Chapman plans to cut the deficit to 4% in 2025 and 1.5% by 2030, aiming to boost investor confidence, but analysts warn failure could lead to downgrades, higher borrowing costs, and reduced foreign investment. (La Estrella de Panamá) (Bloomberg) (Latam FDI)

🇵🇾 Paraguay

• Paraguay's stock market remained stable despite global turmoil from new U.S. tariffs, offering opportunities for local industries. Limited trade exposure and favorable tariff rates shielded Paraguay's economy, potentially attracting foreign investments and boosting exports to the U.S. (La Nación) (Asunción Times)

• Moody’s rates Paraguay’s banking system as stable, highlighting sustained economic growth and regulatory measures to mitigate risks. While agricultural loan exposure remains a vulnerability, regulatory relief introduced in January 2025 is expected to stabilize portfolio quality and bank profitability. Local banking consolidations are seen as efficiency-driven rather than risk-inducing. (InfoNegocios)

• The Inter-American Development Bank (IDB) has launched the 2025-2029 Country Strategy to support Paraguay's transition to sustainable, private sector-driven economic growth. This strategy focuses on three pillars: improving water and energy efficiency under "Paraguay Verde," fostering private investment and regional integration under "Paraguay Productivo," and expanding healthcare access and housing under "Paraguay Humano." Additionally, it emphasizes institutional strengthening and inclusion for vulnerable populations. (IDB)

🇵🇪 Peru

• Peru must leverage the 90-day tariff suspension during the US-China trade war with structural reforms to boost competitiveness. Ex-Minister David Tuesta urged reducing labor costs, improving logistics, cutting bureaucracy, and diversifying markets with new trade deals like one with India, while monitoring exchange rate and interest rate risks. (Radio Nacional del Perú)

• Peru plans to promote $70B in public-private partnership (PPP) projects between 2025 and 2026 to address infrastructure gaps and improve public services. Managed by ProInversión, these initiatives focus on transportation, energy, health, and education, including major projects like highways and industrial parks. Peru will also host PPP Américas 2025 to foster regional collaboration on sustainable development. (Rumbo Minero) (SwissInfo) (Caribbean News Global)

• Peru's central bank maintained its benchmark interest rate at 4.75% in April 2025, citing stable inflation and global economic uncertainty. This marks the third consecutive month without changes, as policymakers monitor inflation, which is currently within the target range (1.3% headline inflation in March), and assess external risks stemming from heightened trade tensions, particularly U.S. tariffs. Economists predict potential rate cuts later this year if global conditions deteriorate further. (Bloomberg Línea) (FocusEconomics) (TradingView News)

🇻🇪 Venezuela

• Venezuelan President Nicolás Maduro signed an economic emergency decree to counter U.S. sanctions and tariffs, aiming to stabilize the economy and promote domestic production. The decree grants Maduro special powers for 60 days, allowing measures such as suspending tax collection, implementing import-substitution policies, and attracting foreign investment to mitigate the impact of reduced oil revenues and global trade disruptions. (Misión Verdad) (Reuters) (Venezuelanalysis)

🇺🇸 Miami

• Unicoin CEO Alex Konanykhin urges the SEC to drop its lawsuit, citing political motives and emphasizing transparency in Unicoin's operations. He highlights Unicoin's acknowledgment of its token as a security and its $3.5B sales history, claiming unfair targeting despite providing extensive financial records. The case outcome could influence regulatory trends in the crypto sector. (Coinfomania) (AInvest)

• The "Hands Off!" protests are the largest nationwide demonstrations against President Trump and advisor Elon Musk, with 1.4K events across all 50 states and globally. Protesters opposed $2T federal cuts, including Social Security and Medicaid, criticized marginalized community attacks, immigration policies, and emphasized protecting democracy and essential services. (AP News) (CNN) (Al Jazeera)

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