Tracxn - Geo Monthly Report - Latam Tech - Nov 2021

TRACXN MONTHLY REPORT
NOVEMBER 2021
LATAM TECH

Latam Tech - November 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Contents
2
Latam Tech Snapshot 3
Investment Snapshot 4
List of Funding Rounds 5
New Investors 9
Top Funded Business Models - last 1 year 11
New Analyst Picks 12
Acquisitions 17
Recent News 19

Latam Tech Snapshot – November 2021
Latam Tech: Snapshot – November 2021
Note : "Investors" refers to "Institutional Investors" only
3
$1.1B
22
Overall Geo Stats
20
11
74
40
30
Funding Rounds $ Invested Analyst Picks
CloudWalk
Upgraded to
UNICORN
New Investors
IG4 Capital
truarrow.com
Series A+ rounds Active Investors IPOs Acquisitions
SenseData
Digesto
Top Funding Rounds Top Markets Top Investors Top Cities
Monthly Leader Board
Sao Paulo
(14 Rounds, $478M)
Santiago
(4 Rounds, $97.5M)
Bogota
(2 Rounds, $98.1M)
Bela Vista Do Paraiso
(1 Rounds, $2.2M)
$250M - Series D
Facily (2018, Sao Paulo Do Potengi, $366M)
$150M - Series C
CloudWalk (2013, Sao Paulo, $365M)
$125M - Series B
isaac (2020, Sao Paulo, $125M)
$125M - Series C
Stori (2019, Miguel Hidalgo, $168M)
Kaszek Ventures
(4 Investments)
Monashees
(2 Investments)
DST Global
(2 Investments)
Valor
(2 Investments)
Payments
CloudWalk
Social Commerce
Facily
Alternative Lending
Stori
B2B E-Commerce
Frubana
Market Size
Companies Covered 23,556
Funded Companies 4,025
Total Funding $29.4B
Funding in last 12 months $13.9B
Top Exits
IPOs 44
Acquisitions 414
Company Stage
Unicorns 24
Soonicorns 63
Minicorns 192
Editor Picks 1,500
Series A+ 576
Series C+ 131
Acqui-Hires 4
Deadpooled 2,025
Top Cities
Sao Paulo (629 Rounds, $12.8B)
Buenos Aires (285 Rounds, $2.4B)
Top Investors
Start-Up Chile (194 Investments)
Y Combinator (119 Investments)

Investment Snapshot
Investment Snapshot of Latam Tech as of November 2021
Latam Tech: Investment Snapshot
4
# Rounds
$ Funding
Investment Trend Top Investments (November 2021)*
Facily
(2018, Sao Paulo Do Potengi,
$366M)
$250M - Series D DX Ventures
CloudWalk
(2013, Sao Paulo, $365M)
$150M - Series C Coatue
isaac
(2020, Sao Paulo, $125M)
$125M - Series B General Atlantic
Stori
(2019, Miguel Hidalgo, $168M)
$125M - Series C GGV Capital
Frubana
(2018, Bogota, $194M)
$94.1M - Series C
Adelco
(1976, Santiago, $57.0M)
$57.0M - Series C IG4 Capital
2TM
(2013, Sao Paulo, $250M)
$50.3M - Series B 10T
QI Tech
(2018, Sao Paulo, $50.0M)
$50.0M - Series A GIC
Fintual
(2016, Providencia, $57.0M)
$39.0M - Series B Sequoia Capital
Houm
(2003, Santiago, $45.0M)
$35.0M - Series A Goodwater Capital
TruePay
(2020, Sao Paulo, $40.5M)
$32.0M - Series A Addition
*Shows only the lead Investors

List of Funding Rounds (1/4)
List of Funding Rounds in Latam Tech in November 2021
Latam Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
5
LATE STAGE
$10.0M - Series C
RecargaPay (2010, Sao Paulo, $132.9M)
Mobile wallet and prepaid card provider
IDB Invest, Fuel Venture Capital, IDC Ventures
LATE STAGE
$57.0M - Series C
Adelco (1976, Santiago, $57.0M)
E-distributor offering multi-category products
IG4 Capital
LATE STAGE
$94.1M - Series C
Frubana (2018, Bogota, $194.2M)
Online marketplace offering fruits & vegetables
LATE STAGE
$125.0M - Series C
Stori (2019, Miguel Hidalgo, $167.5M)
NFC-enabled credit cards for consumers
GGV Capital, GIC, General Catalyst Partners,
Goodwater Capital
LATE STAGE
$150.0M - Series C
CloudWalk (2013, Sao Paulo, $365.0M)
Plug-and-play payment platform for merchant
acquirers
Coatue, The Hive, DST Global, Plug and Play Tech
Center, Valor, and 4 more
LATE STAGE
$250.0M - Series D
Facily (2018, Sao Paulo Do Potengi, $366.0M)
App-based group-buying shopping platform for multi-
category products
DX Ventures, , Citius, Delivery Hero
LATE STAGE
Series C
Fazenda Futuro (2018, Rio De Janeiro, $89.0M)
Platform offering planet-based meat alternative food
products
Rage Capital, XP, BTG Pactual, , Enfini Ventures, and 2
more
EARLY STAGE
$2.2M - Series A
Mola Corban (2019, Bela Vista Do Paraiso, $2.2M)
Business management solution for banking
correspondents
Kinea, Rodrigo Heilberg, Gustavo Heilberg, Walter
Sabini Junior
EARLY STAGE
$3.0M - Series A
Flexio (2019, Cuauhtemoc, $3.0M)
Account payables & receivables management solutions
for businesses

6
EARLY STAGE
$4.0M - Series A
Agrourbana (2018, Santiago, $5.5M)
Producer of hydroponic-based vegetables
Kayyak, ChileGlobal Ventures
EARLY STAGE
$10.0M - Series A
Z1 (2020, Sao Paulo, $13.3M)
NFC-enabled prepaid cards for children
Kaszek Ventures, Homebrew, Maya Capital, Clocktower
Technology Ventures, The Chainsmokers
EARLY STAGE
$10.0M - Series A
Beer Or Coffee (2015, Belo Horizonte, $10.0M)
Partnered network of co-working spaces in Brazil.
Kaszek Ventures, Valor
EARLY STAGE
$13.5M - Series A
StartSe (2014, Sao Paulo, $13.5M)
App-based platform offering multi-disciplinary online
courses
Patria Investments
EARLY STAGE
$15.0M - Series A
Zak (2018, Sao Paulo, $15.0M)
Platform offering suite solution for restaurant
businesses
Tiger Global Management, Canary, Monashees, Valor
Capital, Base10 Partners
EARLY STAGE
$17.7M - Series B
Memed (2012, Sao Paulo, $22.7M)
Application with curated drug information used by
physicians
DNA Capital, Temasek,
EARLY STAGE
$27.0M - Series A
Aplazo (2020, Mexico City, $35.0M)
Online platform for POS financing
Oak HC/FT, Kaszek Ventures, Picus Capital
EARLY STAGE
$32.0M - Series A
TruePay (2020, Sao Paulo, $40.5M)
Online platform for invoice factoring
Addition
EARLY STAGE
$35.0M - Series A
Houm (2003, Santiago, $45.0M)
Online rental property management platform for
owners and rental managers
Goodwater Capital, Fen Ventures, Onevc, Fifth Wall,
Broadhaven Capital Partners, and 4 more

7
EARLY STAGE
$39.0M - Series B
Fintual (2016, Providencia, $57.0M)
Robo advisor based investment platform
Sequoia Capital
EARLY STAGE
$50.0M - Series A
QI Tech (2018, Sao Paulo, $50.0M)
Open banking API
GIC
EARLY STAGE
$50.3M - Series B
2TM (2013, Sao Paulo, $250.3M)
Blockchain infrastructure network for financial markets
10T, Tribe Capital, Endeavor Brasil, ,
EARLY STAGE
$125.0M - Series B
isaac (2020, Sao Paulo, $125.0M)
Financial management solutions for school businesses
General Atlantic, Kaszek Ventures, SoftBank Group
Corp
SEED STAGE
$275.0K - Seed
Aptugo (2012, San Luis, $275.0K)
Provider of web application development platform
MatterScale
SEED STAGE
$283.8K - Seed
Axxes Saúde (2020, Sao Paulo, $283.8K)
Financial solutions for healthcare sectors
GV Angels, DOMO Invest
SEED STAGE
$641.8K - Seed
Mywork (2018, Sao Paulo, $641.8K)
Cloud-based time and attendance solutions provider
DOMO Invest, a.b.seed Ventures, Bossa Nova,
SEED STAGE
$1.5M - Seed
Encuadrado (2018, Santiago, $1.6M)
SaaS-driven appointment scheduling software for local
businesses
Pioneer Fund, Prodigio Capital
SEED STAGE
$2.0M - Seed
SafeSpace (2015, Sao Paulo, $2.0M)
Cloud based integrated IT compliance management
software provider
a.b.seed Ventures, DGF Investimentos

8
SEED STAGE
$2.0M - Seed
SleepUp (2002, Sao Paulo, $2.0M)
Provider of a wearable device for sleep monitoring
GV Angels, Poli Angels, sororit, Aimores Invest,
SEED STAGE
$4.0M - Seed
Cubbo (2003, Bogota, $4.0M)
Provider of web-based micro-fulfillment for e-
commerce businesses
Latam Fund, , Dan Bragiel, Paul Bragiel, Federico
Malek, and 6 more
SEED STAGE
$4.5M - Seed
Melonn (2012, Medellin, $4.5M)
Offers a platform for delivering parcels online
NFX, Pear Ventures, Simma Capital,

New Investors (1/2)
List of New Investors in Latam Tech in November 2021
Latam Tech: List of New Investors
9
Investor Company Info Round Amount Round Name
IG4 Capital
1 portfolio companies | Diversified asset management firm
Adelco
$57.00M Series C
truarrow.com
5 portfolio companies | Tru Arrow Partners
Facily
App-based group-buying shopping platform for multi-category products
$250M Series D
tc.com.br
1 portfolio companies | TC: a plataforma de investidores mais completa do
Brasil | TC
2TM
$50.30M Series B
sororit
1 portfolio companies |
SleepUp
$2.00M Seed
jupter.vdtrxn
SleepUp
$2.00M Seed
Pioneer Fund
34 portfolio companies | Early stage focused venture capital fund
Encuadrado
SaaS-driven appointment scheduling software for local businesses
$1.50M Seed
10T
6 portfolio companies | Blockchain focused investment firm
2TM
$50.30M Series B
Aimores Invest
1 portfolio companies | Aimores Investimentos
SleepUp
$2.00M Seed
blustone.com
Cubbo
Provider of web-based micro-fulfillment for e-commerce businesses
$4.00M Seed
Rage Capital
4 portfolio companies | Venture capital firm focused on food tech startups
Fazenda Futuro
Platform offering planet-based meat alternative food products
Undisclosed Series C

New Investors (2/2)
List of New Investors in Latam Tech in November 2021
Latam Tech: List of New Investors
10
Investor Company Info Round Amount Round Name
astar.vdtrxn
1 portfolio companies | Limited information available
CloudWalk
Plug-and-play payment platform for merchant acquirers
$150M Series C
fitpart.com.br
Memed
Application with curated drug information used by physicians
$17.74M Series B
pipo.capital
2TM
$50.30M Series B
wollefvc.com
1 portfolio companies | Wollef
Melonn
$4.50M Seed
raio.vc
1 portfolio companies | Raio Capital
Mywork
Cloud-based time and attendance solutions provider
$642K Seed
Valor Capital
1 portfolio companies | Real estate fund focused on multifamily properties
Zak
Platform offering suite solution for restaurant businesses
$15.00M Series A
DX Ventures
8 portfolio companies | Venture capital firm investing in tech sectors
Facily
App-based group-buying shopping platform for multi-category products
$250M Series D
Prodigio Capital
2 portfolio companies | Venture capital firm focused on seed-stage investments
Encuadrado
SaaS-driven appointment scheduling software for local businesses
$1.50M Seed
XP
1 portfolio companies | Provider of investment consulting services
Fazenda Futuro
Platform offering planet-based meat alternative food products
Undisclosed Series C
Oak HC/FT
96 portfolio companies | Tech focused early stage VC firm investing in the US
Aplazo
$27.00M Series A

Top Funded Business Models - last 1 year
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1
year.
11
Rank Business Model $ Funding # Rounds Top Funding Round
1 ▲4 Online Used Cars Dealers $1.2B 2 Kavak | $700M | Series E
2 ▲17 E-Commerce Storefronts $1.2B 5 Tiendanube | $500M | Series E
3 <> 0 Digital Native Banks $1.2B 3 Nubank | $750M | Series G
4 ▲2 iBuying Platforms $545M 3 Loft | $425M | Series D
5 -- Cancer Detecting App $521M 1 Wecancer | $521M | Series D
6 ▼-4 B2C Hyperlocal Delivery $511M 3 Rappi | $500M | Series F
7 ▲64 Internet First Residential Real Estate Brokers $441M 3 QuintoAndar | $300M | Series E
8 -- Business Payments Solutions $400M 1 EBANX | $400M | Series C
9 -- Internet First NFC Prepaid Cards $350M 1 Uala | $350M | Series D
10 -- Merchant Acquirer Companies $340M 2 CloudWalk | $190M | Series B

New Analyst Picks (1/5)
Interesting Companies identified by Analysts in Latam Tech in November 2021
Latam Tech: Analyst Picks
12
Upgraded to UNICORN
CloudWalk (2013, Sao Paulo, $125K, Seed)
Plug-and-play payment platform for merchant
acquirers
Valor, Gokul Rajaram, and 7 other Investors
Upgraded to SOONICORN
Fintual (2016, Providencia, $39.0M, Series B)
Robo advisor based investment platform
Village Capital, Jean-Denis Greze, Y Combinator and 7
other Investors
Facily (2018, Sao Paulo Do Potengi, $250M, Series D)
App-based group-buying shopping platform for multi-
category products
Roach Capital, , G Squared and 16 other Investors
Houm (2003, Santiago, $8.0M, Seed)
Online rental property management platform for
owners and rental managers
Elad Gil, Fifth Wall, Liu Jang and 16 other Investors
isaac (2020, Sao Paulo, $125M, Series B)
Financial management solutions for school businesses
SoftBank Group Corp,General Atlantic,Kaszek
Venturesand
TruePay (2020, Sao Paulo, $8.5M, Seed)
Online platform for invoice factoring
Addition, Global Founders Capital, Kaszek Ventures and
2 other Investors
Aplazo (2020, Mexico City, $5.3M, Seed)
Picus Capital, Oak HC/FT, Village Capital and 3 other
Investors
Fazenda Futuro (2018, Rio De Janeiro, $21.5M,
Series B)
Platform offering planet-based meat alternative food
products
Go4it Capital, Enfini Ventures, XP and 5 other Investors
QI Tech (2018, Sao Paulo, $50.0M, Series A)
Open banking API
GICand

13
Adelco (1976, Santiago, $57.0M, Series C)
IG4 Capitaland
Upgraded to MINICORN
Z1 (2020, Sao Paulo, $700K, Seed)
NFC-enabled prepaid cards for children
Soma Capital, Homebrew, The Chainsmokers and 8
other Investors
Memed (2012, Sao Paulo, $500K, Seed)
Application with curated drug information used by
physicians
e.ventures, Headline, Qualcomm Ventures and 9 other
Investors
SleepUp (2002, Sao Paulo, $2.0M, Seed)
GV Angels, Aimores Invest, Poli Angels and 2 other
Investors
StartSe (2014, Sao Paulo, $13.5M, Series A)
App-based platform offering multi-disciplinary online
courses
Patria Investmentsand
Zak (2018, Sao Paulo, $15.0M, Series A)
Platform offering suite solution for restaurant
businesses
Monashees, Base10 Partners, Canary and 2 other
Investors

14
Added to Editor's Pick
AhorroLibre (2013, Tijuana, $25.0K, Grant (prize
money))
Mobile app based P2P savings and credit network
Village Capital,Plug and Play Tech Centerand
Saldo (2014, San Francisco Javier, Undisclosed, Seed)
Mobile wallet provider to pay bills across borders.
INV Fintech, Digital Finance Group, Avalancha Ventures
and 2 other Investors
Refly (2016, Cuautitlan, $31.7K, Seed)
Online marketplace for reselling flight tickets
Startup Mexico,Dux Capital,MassChallengeand
Vopero (2020, Montevideo, $7.5M, Series A)
Online marketplace platform for second-hand fashion
products
Grupo Axo,ThredUPand
Livance (2017, Sao Paulo, $6.0M, Series A)
Provider of managed medical co-working spaces
Astella Investimentos, Oxigênio Aceleradora, Liga
Ventures and 2 other Investors
Frizata (2007, Rosario, $5.0M, Series A)
Brand selling frozen products across multiple
categories
Gonzalo Ramirez Martiarena, , Glocal and 3 other
Investors
Mola Corban (2019, Bela Vista Do Paraiso, $2.2M,
Series A)
Business management solution for banking
correspondents
Gustavo Heilberg, Rodrigo Heilberg, Walter Sabini
Junior and 1 other Investors
Melonn (2012, Medellin, $4.5M, Seed)
NFX, , Pear Ventures and 2 other Investors
Mercafacil (2003, Curitiba, Unfunded)
Platform offering multiple retail technology solution
TM3 Capitaland
Cubbo (2003, Bogota, $4.0M, Seed)
Provider of web-based micro-fulfillment for e-
commerce businesses
Dan Bragiel, Alexis Patjane, Ricardo Weder and 11
other Investors
SimpleBoleta (2019, Santiago, Unfunded)
Electronic ticket and bill generator solutions
Exame (1967, Sao Paulo, Unfunded)
Online platform providing multi-category news

15
Servopa (1966, Curitiba, Unfunded)
App-based consortium for consumer loans
Flexio (2019, Cuauhtemoc, $3.0M, Series A)
Account payables & receivables management solutions
for businesses
UAV Latam (2010, Panama, Unfunded)
Distributor of drones and drone software
Aiwifi (2019, Mexico City, Unfunded)
Cloud based platform offering software for Wifi
marketing
Valiot (2018, Monterrey, $653K, Seed)
Provider of IoT based analysis for manufacturing
industry
Innovex Venturesand
Grupo Alus (2003, Mexico City, Unfunded)
Online platform offering suite solutions for businesses
ALZA Capital Partnersand
Klavi (2021, Sao Paulo, Unfunded)
Open banking API
Iporanga Venturesand
Já Vendeu (2020, Sao Paulo, Unfunded)
Online marketplace offering second-hand home
improvement products
Poli Angelsand
Libera (2013, Medellin, Unfunded)
Online marketplace for invoice factoring
Ocular (2019, Santiago, Unfunded)
Provider of conversion rate optimization solutions
iString.Online (2019, Sao Paulo, Unfunded)
Provider of eCommerce solution for businesses
Find My Pack (2013, Curitiba, Unfunded)
Provider of web-based package tracking solutions

16
NetSat Radio (2020, Cabedelo, Unfunded)
Online platform for streaming radio stations

Acquisitions (1/2)
List of Acquisitions in Latam Tech in November 2021
Latam Tech: Acquisitions
17
Acq. Date Company Acquirer Deal Size
01 Nov 2021
SenseData(2016, Sao Paulo)
Customer success Analytics
Zenvia
08 Nov 2021
Digesto(2012, Sao Paulo)
Cloud and AI based legal research management tools provider
JusBrasil
09 Nov 2021
Coin.fyi(2016, Panama)
Cryptocurrency portfolio management services
Morningstar Ventures
15 Nov 2021
WebEye(2001, Acacias)
Offers telematics-based fleet management solutions
W.A.G. payment solutions
15 Nov 2021
Dixo(2001, Mexico City)
Online podcast network
exilecontentstudio.com
16 Nov 2021
Zul Digital(2016, Sao Paulo)
Provider of smart parking system
Estapar
16 Nov 2021
Viapool(2007, Vicente Lopez, $0.8M)
Provider of employee transport management software
Swvl
17 Nov 2021
Aliada(2015, Mexico City, $0.9M)
Online based platform for booking of home cleaning services
Homely
23 Nov 2021
liberascf.co(, Antioquia)
Online marketplace for invoice factoring
Finaktiva
30 Nov 2021
Wevo(2012, Sao Caetano Do Sul)
Cloud integration and management platform
Jitterbit

Acquisitions (2/2)
List of Acquisitions in Latam Tech in November 2021
Latam Tech: Acquisitions
18
Acq. Date Company Acquirer Deal Size
30 Nov 2021
SeSocio(2016, Buenos Aires)
Online investment platform for connecting investors with
opportunities
Blockchain.com

Recent News (1/2)
Recent News in Latam Tech in November 2021
Latam Tech:News
19
Exit News
.
● Nubank file for IPO Finextra
.
● First Advantage Expands through Acquisitions of U.S.-based Corporate
Screening and Mexico-based MultiLatinGlobeNewswire
.
● Ualá buys Mexican bank ABC Capital and will invest $150M in the country
Contxto
.
● ZENVIA announces acquisition of SenseData CNW
.
● The startup Homely acquires its rival Aliada News Break
.
● Swvl Acquires ViaPool in Follow-Up to Queen's Gambit SPAC Tie-Up
BloombergQuint
.
● Route Mobile completes acquisition of Masivian S.A.S Business Standard
.
● Yummy completes the acquisition of the Bolivian super app Yaigo Contxto
.
People News
.
● Satellogic Accelerates Growth with Leadership Appointments Business Wire
.

Explore more on Tracxn
Explore more about Latam Tech on Tracxn Platform
Latam Tech: Explore more on Tracxn Platform
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Companies
Recent Companies Covered
Funded Companies
Editor's Pick
Soonicorn Club
SaaS Companies in Latam
AI Companies in Latam
Fintech Companies Latam
Consumer Digital in Latam
Company Due Diligence
Detailed profile of Rappi
Competitors of Kavak
Cap Tables of Loft
Investment Activity
Recent Investments
Investment Trend of last 10 years
Mega Investments Rounds
Investors
Most Active Investors
Most Active Angel Investors
Unicorn Investors
Exits
IPO'd Companies
Recent Acquisitions
Most Active Acquirers
Recent Acquihires
News & Events
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Upcoming Events
Library
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