Dealflow.la #90 - Roxom Global 🇸🇻 Raises $13M Pre-Seed for Bitcoin Exchange, Argentina 🇦🇷 Unlocks $271B in Hidden USD Savings, & Bolsonaro's 🇧🇷 Coup Trial Begins.
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Funding
Preventix 🇲🇽 raised a $3.5M Seed Round with funding from Impact Ventures PSM Seed 🇲🇽 to democratize cervical cancer screening in Latam through a non-invasive blood test. The company enables early detection and improved access to women’s health diagnostics.
Blips 🇧🇷 raised a $8.8M Series B Round with funding from Headline 🇺🇸 and XP 🇧🇷 to provide equipment financing and rental services for micro and small businesses in Latam. The company leverages AI-driven credit models and alternative data to empower underserved entrepreneurs with fast, accessible financing solutions.
Next Fit 🇧🇷 raised a $10M Series A Round with funding from Cloud9 Capital 🇧🇷 to develop an administration platform for gyms and fitness studios. Next Fit’s app enables gym owners to manage schedules, classes, workouts, and training histories all in one place, streamlining operations and improving the member experience.
Roxom Global 🇸🇻 raised a $13M Pre-Seed Round with funding from ego death capital 🇺🇸 and undisclosed investors to develop a Bitcoin stock exchange platform for cryptocurrency trading. The company leverages market-making algorithms to facilitate trading of stocks, commodities, ETFs, bonds, and forex futures, providing investors with enhanced liquidity and trading opportunities.
Acquisition News
Visma 🇳🇴 acquired Rindegastos 🇨🇱, a digital expense management platform for SMEs and corporates, to expand Visma’s business software offerings in Latam and enhance its portfolio with advanced expense automation and integration capabilities.
JumpCloud 🇺🇸 acquired Vault One 🇧🇷, a cybersecurity company specializing in privileged access management (PAM) solutions that help organizations securely guard, control, and share passwords and manage access to critical assets, to expand JumpCloud’s unified identity and access management platform with advanced PAM capabilities, enabling more secure, scalable, and streamlined access control for global organizations and IT teams.
Startup & VC News
Csoftmty and Microsoft 🇺🇸 announced the launch of the Artificial Intelligence Academy in Nuevo León 🇲🇽 to boost digital skills and AI adoption in Latam. The academy offers free, certified AI training for students, educators, and businesses. (El Economista)
Tritemius 🇪🇸 announced the launch of a $23.7M fund to back early-stage startups in Latam and Europe building Web3 and decentralized finance solutions. The fund will invest about $560K per startup, aiming to accelerate practical blockchain adoption across sectors. (Contxto)
Sociopolitical News
🇦🇷 Argentina
Argentina has lifted restrictions on undeclared U.S. dollars, aiming to tap up to $271B in hidden savings to support its economy and President Milei’s dollarization plans. The decree lets Argentines use stashed cash without reporting its origin, boosting liquidity but raising concerns about tax evasion and financial transparency. (Reuters) (Financial Times) (AP News)
Argentina approved Rio Tinto’s $2.5B lithium project, boosting its role in the global battery supply chain. The investment is set to create jobs and attract more foreign capital as demand for lithium grows. (Reuters) (Buenos Aires Times)
🇧🇷 Brazil
Brazil has begun a 28-day process to certify its chicken farms as bird flu-free, aiming to restore poultry exports. Authorities have disinfected affected sites, and no new cases have been found as Brazil seeks to lift trade bans. (Reuters) (Investing.com)
Brazil uncovered a Russian spy ring using fake Brazilian identities to infiltrate the West, exposing a major Russian intelligence operation. Most operatives fled, prompting global alerts and concerns over identity security. (Moneycontrol) (NYT)
Former Brazilian President Jair Bolsonaro’s trial for allegedly orchestrating a coup to overturn his 2022 election defeat has begun, a landmark case for Brazilian democracy. He faces charges including leading a criminal organization and plotting assassinations, with up to 40 years in prison possible; Bolsonaro denies all accusations as political persecution. (Al Jazeera) (NYT) (BBC)
🇨🇱 Chile
Chile plans to expropriate the former Colonia Dignidad enclave, a site of Pinochet-era atrocities, to create a memorial center for victims. Germany has pledged $2.5M to build an archive documenting abuses at the colony, which was founded by a Nazi officer and operated as a torture hub. (France 24) (Gob.cl) (BBC)
🇨🇴 Colombia
Colombian President Petro has proposed resuming peace talks with the ELN guerrilla group at the Vatican, seeking renewed momentum after stalled negotiations. Experts say Vatican involvement could add symbolic weight but warn real progress depends on both sides’ commitment; the ELN has yet to formally respond. (France 24) (Colombia One) (Washington Post)
🇨🇷 Costa Rica
Costa Rica faces a record surge in cybercrime, with banking fraud cases up 668% since 2020 and daily scams now affecting 38 people every day. Criminals exploit leaked personal data and local tactics, while experts warn weak cybersecurity and recent ransomware attacks have made the country a prime target. (Tico Times) (Crime Research)
🇩🇴 Dominican Republic
The Dominican Republic’s power grid loses $1.2B yearly to inefficiencies, but upgrades and renewables offer investment potential. A $225M World Bank project targets loss reduction and grid modernization as the country aims for 25% clean energy by 2025. (BNamericas) (World Bank)
The Dominican Republic has deported over 276k Haitians in 2024 under a policy targeting 10k weekly, drawing condemnation for xenophobia and rights violations. Critics cite deportations of pregnant women and children, while authorities claim adherence to human rights amid Haiti’s crisis. (Telesur) (CNN) (Amnesty) (NPR)
🇪🇨 Ecuador
Solaris secured $200M from Royal Gold to develop Ecuador’s Warintza copper project, a major undeveloped deposit. The deal includes a gold stream and royalty, with funding split into tranches tied to milestones, supporting the project through feasibility studies. (Mining Technology) (Business Wire)
🇸🇻 El Salvador
El Salvador arrested prominent human rights lawyer Ruth López, intensifying concerns over authoritarianism under President Bukele. She faces embezzlement charges amid a crackdown on dissent, with her whereabouts unknown and legal access denied, reflecting wider suppression of critics and NGOs. (Human Rights Watch) (Al Jazeera) (CNN)
El Salvador’s Congress passed a 30% tax on foreign NGO donations to curb “foreign agents,” drawing criticism over stifling dissent. The law, backed by Bukele’s party, imposes fines up to $250K for non-compliance, claiming to protect sovereignty. (Reuters) (Arise.tv)
🇬🇹 Guatemala
The U.S. signed a $64M deal to modernize Guatemala's Puerto Quetzal, countering Chinese influence while boosting regional trade capacity. The agreement expands the Pacific port by 800 meters with four new berths, creating a strategic logistics hub near Panama Canal. (DW)
The UN warned that Guatemala’s prosecutor’s office is systematically using criminal law to target justice officials, journalists, and human rights defenders, undermining the rule of law. Over 50 justice operators have gone into exile as international bodies highlight escalating misuse of prosecutions, though the prosecutor’s office denies wrongdoing. (Infobae) (Times of India)
Guatemala began the process to join CAF, seeking greater access to development financing for infrastructure and sustainable growth. Membership will support projects in transport, ports, and urban transit. (CAF) (Infobae)
🇭🇳 Honduras
Honduras' executive branch faced criticism for attempting to expand budgetary control, prompting opposition protests over transparency concerns. The approved $17B 2025 budget prioritizes $4B for social investments, despite disputes over centralization risks under President Castro's administration. (La Prensa)
Honduras’ Congress is prioritizing extractive industries over environmental protections, ignoring the Escazú Agreement and community participation. Despite high risks for environmental defenders and international calls for stronger safeguards, the government has not advanced on regional environmental commitments. (Criterio.hn)
🇲🇽 Mexico
A teachers’ union protest briefly shut down Mexico City’s main airport, disrupting international flights and highlighting mounting labor tensions ahead of key elections. The CNTE union demands higher salaries and pension reforms, rejecting a recent 10% wage hike as insufficient. (NYT) (Mexico News Daily) (Ground News)
Mexico’s debt-laden Pemex plans to cut 3,114 jobs to save $540M, risking union clashes amid declining production. The state oil firm aims to redirect $5.25B to exploration as output nears a 40-year low, contradicting President Sheinbaum’s pledge against layoffs. (Reuters) (Offshore Technology)
🇳🇮 Nicaragua
Russian and Nicaraguan parliamentarians will meet in Managua to strengthen strategic ties. Talks focus on expanding trade, military, and cybersecurity cooperation as both countries mark 80 years of diplomatic relations. (Izvestia)
🇵🇦 Panama
Chiquita fired about 5,000 workers in Panama after a strike over pension reforms halted banana production and caused $75M in losses. The government called the strike illegal and backed the layoffs, while unions insist the protest is lawful and ongoing. (BBC News Mundo) (Al Jazeera) (AP News)
Panama and Venezuela will resume commercial flights after nearly a year of suspension due to diplomatic tensions. The move restores air connectivity despite ongoing political differences. (El Economista) (AP News)
🇵🇾 Paraguay
Singapore and Paraguay signed a carbon credits deal enabling bilateral transfers and supporting green projects. The agreement also opens Singapore’s market to Paraguayan meat exports. (Channel NewsAsia) (Mercopress)
Japan and Paraguay upgraded their ties to a strategic partnership to boost investment and counter China’s regional influence. The deal includes a new investment pact, visa-free travel for Paraguayans, and aims to leverage Paraguay’s Mercosur access and ties with Taiwan. (The Japan Times) (Mainichi) (Rio Times)
🇵🇪 Peru
Peru’s top court recognized the Kichwa people’s territorial rights in the Amazon, setting a key precedent for Indigenous land protection. The decision strengthens Indigenous conservation roles. (AP News) (US News)
Peru will launch a mining fund to incentivize small-scale and artisanal miners with preferential rates and better market access. The initiative aims to boost formalization, support mercury-free practices, and expand financial inclusion for over 250K miners. (Mining.com) (Solidaridad Network) (Mining.com - loans)
Peru is negotiating four trade agreements to expand global market access, targeting India, Indonesia, Brazil, and updated terms with China. The deals aim to diversify exports (notably minerals and agriculture), with India talks poised to conclude in 2025 after a 77% export surge to $3.5B in 2024. (Financial Express) (MercoPress) (Hong Kong Gov)
🇻🇪 Venezuela
The U.S. will let Chevron’s Venezuela oil license expire May 27 amid internal Trump administration divisions over sanctions policy. Secretary of State Marco Rubio blocked a proposed 60-day extension, but a minimal maintenance waiver may follow to safeguard operations. (Reuters) (Axios) (Bloomberg)
Venezuelan opposition leader Juan Pablo Guanipa was arrested ahead of contentious elections, accused of plotting sabotage with foreign mercenaries. The government claims to have thwarted attacks on infrastructure, while the U.S. condemns the detentions as political repression amid opposition boycotts of the vote. (Newsonair) (Barrons)
Venezuela suspended flights from Colombia after arresting 38 individuals accused of plotting election sabotage. The week-long ban, impacting 3K passengers, follows claims of planned attacks on infrastructure, with officials alleging opposition and foreign collusion, though no evidence was provided. (Reuters) (Al Jazeera) (AP News)
🇺🇸 Miami
A Florida court ordered Mexico’s ex-security chief and his wife to pay $2.4B for aiding the Sinaloa Cartel through bribes. Genaro García Luna, convicted in 2023, allowed cocaine trafficking while laundering stolen public funds into luxury assets during his 2006–2012 tenure. (CBS News) (AP News) (Al Jazeera)
House GOP’s proposed SNAP cuts could strip 3.2M Americans of food aid via stricter work rules and state cost-sharing. The $92B savings plan risks hunger spikes, targeting seniors, parents, and immigrants, per CBO projections. (CNBC) (Politico)
ICE agents are arresting migrants at U.S. immigration courts to expedite deportations, bypassing court hearings. The new tactic is raising legal and humanitarian concerns. (AP News) (CBS News) (LA Times) (Washington Post)
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