Dealmaking across Latin America fell 18% by volume but grew 9% by disclosed value in January to November compared with the same period 2023, according to the latest report from TTR Data. 

Among the top six markets, Brazil led both by deal volume and value, followed by Chile, Mexico, Colombia, Argentina and Peru. 

By deal value, Mexico was second ahead of Chile, which was followed by Argentina, Colombia and Peru. 

In total, Brazil saw 1,474 deals to November, down 23%, with 231bn reais (US$37.5bn) in disclosed value, up 19%. 

In the same period, Mexico had 307 deals tracked amounting to US$15.1bn, down 9% and up 20%, respectively. In both countries, software/IT was the most active segment.

Telefónica invests in Argentina’s Rapihogar

Telefónica invested an undisclosed sum in Argentine startup Rapihogar to expand in targeted insurance and residential services.

Rapihogar created a platform that allows insurers and large companies to manage home repair and maintenance services.

The deal is another VC bet by Telefónica on Latin America. The acquisition was carried out via Iope Ventures, an investment vehicle launched by Wayra and Telefónica Seguros to invest in B2B startups in the fintech and insurtech sector.

Rapihogar intends to use the funds to boost its tech platform with AI, launch new products, expand its workforce and grow operations in Europe.

Chile’s Toesca launches fund for regenerative agriculture

Santiago-based Toesca Asset Management teamed up with UK investment firm Astarte Capital Partners to launch a platform focused on regenerative agriculture investments.

A first fund, Toesca Permanent Crops II, has US$350mn available to be invested as from 2025 in a portfolio of permanent crops based on regenerative and sustainable practices. 

Initially, investments will be focused on Chile, followed by “strategic expansion” into Peru and other LatAm markets. 

Puerto Rico’s Evertec in new acquisition 

Puerto Rico-based payment processing company Evertec acquired, for an undisclosed amount, US data and AI firm Grandata.

Evertec is among the largest players in Latin America for financial technology solutions and payment digitization. In November last year, the group completed a merger with Brazil’s Sinqia. According to Evertec, the new acquisition is expected to boost its data analytics capabilities. 

Zapping to up investments in Brazil

Chilean streaming TV startup Zapping is looking to expand its operations in Brazil, where it currently reports having over 20,000 subscribers, with a further US$10mn in resources.

The company's goal for 2025 is to reach 150,000 customers in the country, according to Brazilian media outlet TI Inside. Considering its operations in Brazil, Chile, Ecuador and Peru, the platform currently has over 250,000 subscribers.

As part of this strategy, CEO and co-founder Gustavo Morandé moved to São Paulo. In September, the company appointed Matías Délano as country manager for Brazil.

Brazil’s Zig secures series B extension

Brazilian fintech Zig raised 155mn reais in a series B round extension led by Kaszek Ventures to expand in the country and in Mexico, Portugal and Spain.

In April, the company raised 110mn reais from Cloud9, Across Capital and Endeavor Scale-Up Ventures. Across followed Kaskez in the extension. 

Claiming to be a “funtech,” Zig provides financial and payment solutions for clients attending concerts, festivals and sporting events.

Onze to expand private pension plans

Another Brazilian fintech, but focused on private pension solutions for companies, secured US$20mn from US fund Ribbit Capital followed by Atlantico and Red Ventures.

Founded in 2019, Onze claims to serve over 220 companies, including Dell Brasil, TIM and OLX. The company reports having around 4bn reais in assets under management.

Proceeds will be used to strengthen the offer of credit and insurance, among other services, for employees of these companies.

Argentina’s Numia closes first round 

In Argentina, customer service platform Numia closed its first round, a US$3.5mn investment led by VC firm Cometa.

The investment was followed by Boost Capital Partners, MatterScale Ventures, Kuiper VC and Amador. In addition, according to the company, angel investors Santiago Gómez and Alejandro Casas participated.

Formerly branded by Debmedia, Numia reports clients in more than 10 countries in the Americas and Europe. The company plans to use the funds to strengthen its presence in Mexico and Colombia and targets surpassing 400 corporate clients by end-2025.

Numia’s platform allows companies to manage all interfaces for interactions with their clients, both physical and digital. Numia's customers include companies from the banking, insurance, retail, health and government verticals, such as Mapfre, HDI, Scotiabank, Santander and Palacio de Hierro.

Source: Business News Americas / BN Americas - Chile