Tracxn - Geo Monthly Report - Latam Tech - Feb 2022
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The Tracxn report for February 2022 highlights the Latin American tech landscape, detailing $774 million in investments across 13 funding rounds. Key highlights include Betterfly achieving unicorn status, while major cities like São Paulo and Bogotá lead in funding activity. The document also covers notable new investors, top funded business models, and analyst picks for promising startups.
Tracxn - Geo Monthly Report - Latam Tech - Feb 2022
- 1. TRACXN MONTHLY REPORT FEBRUARY 2022 LATAM TECH
- 2. Latam Tech - February 2022 Copyright © 2022, 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 15 Recent News 16
- 3. Latam Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved. Latam Tech Snapshot – February 2022 Latam Tech: Snapshot – February 2022 Note : "Investors" refers to "Institutional Investors" only 3 $774M 13 Overall Geo Stats 20 8 57 28 29 Funding Rounds $ Invested Analyst Picks Betterfly Upgraded to UNICORN New Investors Khosla Ventures OKX Series A+ rounds Active Investors IPOs Acquisitions Radar FraudKeeper Top Funding Rounds Top Markets Top Investors Top Cities Monthly Leader Board Sao Paulo (5 Rounds, $332M) Bogota (5 Rounds, $32.8M) Medellin (2 Rounds, $20.1M) Buenos Aires (2 Rounds, $11M) $300M - Series D Neon (2016, Sao Paulo, $720M) $125M - Series C Betterfly (2018, Santiago, $203M) $100M - Series B Solides (2008, Belo Horizonte, $104M) $80M - Series B Valoreo (2020, Mexico City, $160M) Y Combinator (7 Investments) QED Investors (2 Investments) DOMO Invest (2 Investments) Greycroft (1 Investments) Banking Tech Neon HRTech Betterfly Employee Health IT Brands Tech Valoreo Market Size Companies Covered 26,350 Funded Companies 4,370 Total Funding $33.7B Funding in last 12 months $15.2B Top Exits IPOs 45 Acquisitions 460 Company Stage Unicorns 29 Soonicorns 68 Minicorns 223 Editor Picks 1,591 Series A+ 621 Series C+ 144 Acqui-Hires 4 Deadpooled 2,182 Top Cities Sao Paulo (691 Rounds, $14.1B) Mexico City (310 Rounds, $2.8B) Top Investors Start-Up Chile (196 Investments) Y Combinator (147 Investments)
- 4. Latam Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved. Investment Snapshot Investment Snapshot of Latam Tech as of February 2022 Latam Tech: Investment Snapshot 4 # Rounds $ Funding Investment Trend Top Investments (February 2022)* Neon (2016, Sao Paulo, $720M) $300M - Series D BBVA Betterfly (2018, Santiago, $203M) $125M - Series C Glade Brook Capital Solides (2008, Belo Horizonte, $104M) $100M - Series B Warburg Pincus Valoreo (2020, Mexico City, $160M) $80.0M - Series B L Catterton Aligned (2020, Puerto Rico, $34.0M) $34.0M - Series C GSR Ventures FOXBIT (2014, Sao Paulo, $20.0M) $20.0M - Series A OKX Melonn (2012, Medellin, $24.5M) $20.0M - Series A QED Investors DM Card (2002, Sao Jose Dos Campos, $19.5M) $19.5M - Series B Vinci Partners MOVii (2002, Bogota, $32.0M) $17.0M - Series C Block Emi Labs (2017, Buenos Aires, $11.0M) $11.0M - Series A Merus Capital Tpaga (2015, Bogota, $15.1M) $10.0M - Series A EWA Capital *Shows only the lead Investors
- 5. Latam Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved. List of Funding Rounds (1/4) List of Funding Rounds in Latam Tech in February 2022 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 $17.0M - Series C MOVii (2002, Bogota, $32.0M) Card-linked and app-based wallet for individuals Block LATE STAGE $34.0M - Series C Aligned (2020, Puerto Rico, $34.0M) Blockchain-based infrastructure for the DeFi industry GSR Ventures, Altium Capital Management, Cavalry Fund, , Happy Walters LATE STAGE $125.0M - Series C Betterfly (2018, Santiago, $202.5M) Health benefits and life insurance platform Glade Brook Capital, QED Investors, Mundi Ventures, DST Global, Lightrock, and 1 more LATE STAGE $300.0M - Series D Neon (2016, Sao Paulo, $720.3M) Neo bank for consumers BBVA, Propel Venture Partners EARLY STAGE $7.0M - Series A Ignite Tournaments (2021, San Juan, $10.0M) Bloackchain-based platform offering esports tournaments Animocabrands, Infinity Ventures Crypto, Moon Holdings Fund EARLY STAGE $10.0M - Series A MOSS (2020, Sao Paulo, $11.8M) Online platform to purchase carbon credits Acre Venture Partners, SP Ventures, Arrington XRP Capital, Jive, Flori Ventures, and 1 more EARLY STAGE $10.0M - Series A Tpaga (2015, Bogota, $15.1M) Online payment gateway provider EWA Capital, Mountain Partners, Fondation Botnar, New Ventures Mexico, EARLY STAGE $11.0M - Series A Emi Labs (2017, Buenos Aires, $11.0M) Provider of an AI-based recruitment assistant for HR teams Merus Capital, Khosla Ventures EARLY STAGE $19.5M - Series B DM Card (2002, Sao Jose Dos Campos, $19.5M) App-based platform for private labeled credit cards Vinci Partners
- 6. Latam Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved. List of Funding Rounds (2/4) List of Funding Rounds in Latam Tech in February 2022 Latam Tech: List of Funding Rounds Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE 6 EARLY STAGE $20.0M - Series A Melonn (2012, Medellin, $24.5M) Offers a platform for delivering parcels online QED Investors, Alter, NFX, Global Founders Capital, Wollef, and 1 more EARLY STAGE $20.0M - Series A FOXBIT (2014, Sao Paulo, $20.0M) Online cryptocurrency exchange platform OKX EARLY STAGE $80.0M - Series B Valoreo (2020, Mexico City, $160.0M) Platform for acquiring digital-first brands L Catterton EARLY STAGE $100.0M - Series B Solides (2008, Belo Horizonte, $103.5M) Cloud-based platform for HRMS suite Warburg Pincus SEED STAGE $125.0K - Seed Alima (2021, Mexico City, $125.0K) Platform offering fruits and vegetable store businesses Y Combinator SEED STAGE $125.0K - Seed Hippo (2021, Bogota, $125.0K) Provider of SaaS-based project management solutions for the construction companies Y Combinator SEED STAGE $125.0K - Seed Pantore (2021, Sao Paulo, $125.0K) Platform offering multi-category grocery products for restaurant businesses Y Combinator SEED STAGE $125.0K - Seed Vecindario (2019, Medellin, $125.0K) Provider of a listing platform to buy residential properties Y Combinator SEED STAGE $125.0K - Seed HoyTrabajas (2017, Bogota, $125.0K) Online job board for multiple industries Y Combinator
- 7. Latam Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved. List of Funding Rounds (3/4) List of Funding Rounds in Latam Tech in February 2022 Latam Tech: List of Funding Rounds Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE 7 SEED STAGE $125.0K - Seed Cardda (2020, Santiago, $125.0K) Cloud-based subscription payment management solutions for businesses Y Combinator SEED STAGE $380.6K - Seed Privacy Tools (2019, Porto Alegre, $380.6K) Platform to maintain data privacy Bossa Nova, DOMO Invest SEED STAGE $1.5M - Seed INARU (2020, , $1.5M) Online platform offering multi-category fashion products for women SEED STAGE $2.2M - Seed PayHop (2020, Sao Paulo, $2.2M) Platform offering financing solution for retail merchants Citrino Gestao, DOMO Invest SEED STAGE $2.8M - Seed Olho do Dono (2016, Vitoria, $2.8M) Developer of cattle weight monitoring solutions The Primatec Fund SEED STAGE $3.0M - Seed Flexio (2019, Cuauhtemoc, $6.0M) Account payables & receivables management solutions for businesses Soma Capital, Latitud, Y Combinator, Omri Mor, Daniel Kahn, and 1 more SEED STAGE $4.3M - Seed Trace Finance (2020, Rio De Janeiro, $4.3M) Digital bank for businesses , 2TM, THE CHAINSMOKERS, Mantis VC, Circle Venture Capital, and 8 more SEED STAGE $5.5M - Seed Mezubo (2020, Bogota, $5.5M) Online marketplace for car title loans Canary, DILA Capital, Sebastian Noguera Escallon SEED STAGE Seed KLIMBER (2013, Buenos Aires) Online life insurance platform for insurance Swiss Re
- 8. Latam Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved. List of Funding Rounds (4/4) List of Funding Rounds in Latam Tech in February 2022 Latam Tech: List of Funding Rounds Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE 8 SEED STAGE Seed StoreEase (2021, ) Provider of a storage facility management solution for commercial spaces Bienville Capital SEED STAGE Seed AltScore (2019, Quito) AI-enabled alternative credit scores for individuals Kamay Ventures
- 9. Latam Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved. New Investors (1/2) List of New Investors in Latam Tech in February 2022 Latam Tech: List of New Investors 9 Investor Company Info Round Amount Round Name Khosla Ventures 803 portfolio companies | Venture capital fund focused on early-stage startups Emi Labs Provider of an AI-based recruitment assistant for HR teams $11.00M Series A OKX 14 portfolio companies | Financial services platform offering trading and wallet FOXBIT Online cryptocurrency exchange platform $20.00M Series A Jive 1 portfolio companies | Diversified investment management firm MOSS Online platform to purchase carbon credits $10.00M Series A BlockFi 7 portfolio companies | App-based trading and lending solutions for cryptocurrency Trace Finance Digital bank for businesses $4.30M Seed Circle Venture Capital 8 portfolio companies | Venture capital fund focused on micro investments Trace Finance Digital bank for businesses $4.30M Seed Swiss Re 19 portfolio companies | Reinsurance company KLIMBER Online life insurance platform for insurance Undisclosed Seed Arrington XRP Capital 48 portfolio companies | Venture capital firm investing in blockchain companies MOSS Online platform to purchase carbon credits $10.00M Series A Infinity Ventures Crypto 23 portfolio companies | Venture capital fund focused on blockchain startups Ignite Tournaments Bloackchain-based platform offering esports tournaments $7.00M Series A Merus Capital 54 portfolio companies | Tech focused seed & early stage VC firm investing in the US Emi Labs Provider of an AI-based recruitment assistant for HR teams $11.00M Series A Animocabrands 115 portfolio companies | Mobile games developer focusing on franchise-based core games and fund of funds focused on startups Ignite Tournaments Bloackchain-based platform offering esports tournaments $7.00M Series A
- 10. Latam Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved. New Investors (2/2) List of New Investors in Latam Tech in February 2022 Latam Tech: List of New Investors 10 Investor Company Info Round Amount Round Name GSR Ventures 43 portfolio companies | VC firm focused on early-stage technology companies Aligned Blockchain-based infrastructure for the DeFi industry $34.00M Series C Mundi Ventures 49 portfolio companies | Venture capital firm focused on B2B business model and insurtech sectors Betterfly Health benefits and life insurance platform $125M Series C THE CHAINSMOKERS 8 portfolio companies | Music Band Trace Finance Digital bank for businesses $4.30M Seed star26vc.com 1 portfolio companies | This page was built with Figment.so Tpaga Online payment gateway provider $10.00M Series A Moon Holdings Fund 1 portfolio companies | Venture capital firm focused on seed-stage investments Ignite Tournaments Bloackchain-based platform offering esports tournaments $7.00M Series A New Ventures Mexico 2 portfolio companies | Adobe Capital backed startup accelerator and incubator Tpaga Online payment gateway provider $10.00M Series A hofv.com 1 portfolio companies | Trace Finance Digital bank for businesses $4.30M Seed Bienville Capital 10 portfolio companies | Diversified investment management firm StoreEase Provider of a storage facility management solution for commercial spaces Undisclosed Seed ninja4.biz 1 portfolio companies | Aligned Blockchain-based infrastructure for the DeFi industry $34.00M Series C Cavalry Fund 3 portfolio companies | Venture capital fund focused on multiple sectors Aligned Blockchain-based infrastructure for the DeFi industry $34.00M Series C
- 11. Latam Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved. 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 ▲5 Online Used Cars Dealers $1.2B 2 Kavak | $700M | Series E 2 ▼-1 Digital Native Banks $758M 2 Nubank | $750M | Series G 3 <> 0 iBuying Platforms $545M 3 Loft | $425M | Series D 4 ▲1 B2C Hyperlocal Delivery $507M 2 Rappi | $500M | Series F 5 ▲39 Group Buying Platforms $489M 4 Facily | $250M | Series D 6 ▲14 Cryptocurrency Trading Platforms $450M 2 Bitso | $250M | Series C 7 ▲64 Internet First Residential Real Estate Brokers $446M 4 QuintoAndar | $300M | Series E 8 -- Business Payments Solutions $400M 1 EBANX | $400M | Series C 9 ▼-5 Internet First Retail Banks with Partner Bank's License $392M 6 Neon | $300M | Series D 10 -- Internet First NFC Prepaid Cards $350M 1 Uala | $350M | Series D
- 12. Latam Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved. New Analyst Picks (1/3) Interesting Companies identified by Analysts in Latam Tech in February 2022 Latam Tech: Analyst Picks 12 Upgraded to UNICORN Betterfly (2018, Santiago, $60.0M, Series B) Health benefits and life insurance platform Glade Brook Capital, Greycroft, Lightrock and 9 other Investors Upgraded to SOONICORN Solides (2008, Belo Horizonte, $3.5M, Series A) Cloud-based platform for HRMS suite Warburg Pincus,DGF Investimentos,Spectraand Upgraded to MINICORN Emi Labs (2017, Buenos Aires, $11.0M, Series A) Provider of an AI-based recruitment assistant for HR teams Merus Capital, Khosla Ventures, Soma Capital and 2 other Investors Upgraded to MINICORN FOXBIT (2014, Sao Paulo, $20.0M, Series A) Online cryptocurrency exchange platform OKXand Upgraded to MINICORN Mezubo (2020, Bogota, $5.5M, Seed) Online marketplace for car title loans Canary,DILA Capital,Sebastian Noguera Escallonand Upgraded to MINICORN Melonn (2012, Medellin, $4.5M, Seed) Offers a platform for delivering parcels online QED Investors, Global Founders Capital, Alter and 9 other Investors
- 13. Latam Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved. New Analyst Picks (2/3) Interesting Companies identified by Analysts in Latam Tech in February 2022 Latam Tech: Analyst Picks 13 Upgraded to MINICORN Trace Finance (2020, Rio De Janeiro, $4.3M, Seed) Digital bank for businesses , Circle Venture Capital, Mantis VC and 10 other Investors Upgraded to MINICORN Aligned (2020, Puerto Rico, $34.0M, Series C) Blockchain-based infrastructure for the DeFi industry GSR Ventures, Altium Capital Management, Cavalry Fund and 2 other Investors Added to Editor's Pick Cumplo (2012, Las Condes, $1.0M, Series A) P2P marketplace for business loans ALLVP,Morro Venturesand Added to Editor's Pick Avancargo (2016, Buenos Aires, $1.0M, Seed) Online marketplace for trucks Globant Ventures,Organizacion Roman,Grupo Supervielleand Added to Editor's Pick SuperOpa (2018, Campinas, $414K, Seed) Online platform offering surplus food products Bossa Novaand Added to Editor's Pick Rebill (2018, Buenos Aires, $125K, Seed) Cloud-based invoicing management and payment collection solutions for businesses Y Combinator,Startup Olé Acceleratorand Added to Editor's Pick Sooper (2021, Sao Paulo, $1.1M, Series A) Online B2B marketplace offering multi-category home construction products Kaszek Ventures, Canary, GloboVentures and 3 other Investors Added to Editor's Pick i4sea (2015, Salvador, $5.0M, Seed) Provider of weather forecasting software for the marine industry Capital Lab,Bluetech Acceleratorand Added to Editor's Pick AppGas (2020, Sao Paulo, Unfunded) App-based platform offering doorstep LPG delivery solutions Added to Editor's Pick AltScore (2019, Quito, Undisclosed, Seed) AI-enabled alternative credit scores for individuals Kamay Ventures,Techstars,BuenTrip Venturesand
- 14. Latam Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved. New Analyst Picks (3/3) Interesting Companies identified by Analysts in Latam Tech in February 2022 Latam Tech: Analyst Picks 14 Added to Editor's Pick We Technologies (2012, Santiago, $2.0M, Series A) Provider of IoT devices for decision making HCS Capital Partners,ChileGlobal Ventures,Wayraand Added to Editor's Pick Trebol (2021, Bogota, $125K, Seed) Open banking aggregation API Y Combinatorand Added to Editor's Pick delt.ai (2019, Mexico City, $125K, Seed) Digital banks for businesses TrueFi, Y Combinator, Soma Capital and 2 other Investors Added to Editor's Pick Dr. Cash (2019, Pinheiros, $282K, Seed) Online purchase financing platform for medical bills Bossa Nova,Superjobs Venture Capitaland Added to Editor's Pick Sistecrédito (1996, Envigado, Unfunded) Online platform for point of sale financing Added to Editor's Pick PayHop (2020, Sao Paulo, $2.2M, Seed) Platform offering financing solution for retail merchants DOMO Invest,Citrino Gestaoand Added to Editor's Pick Suculentando (2020, Sao Paulo, Unfunded) Provider of garden monitoring and management solutions Added to Editor's Pick ContaÁgil (2016, Canoas, Undisclosed, Seed) Cloud-based accounting solutions for small businesses Bossa Nova,Ventiur,Poli Angelsand Added to Editor's Pick SenseiNode (2021, Buenos Aires, Unfunded) Blockchain-based infrastructure for nodes of protocoals 11-11 DG Partnersand Added to Editor's Pick For_Me (2018, Cordoba, Undisclosed, Seed) Provider of a platform offering community marketing solutions Newtopiaand Added to Editor's Pick Canguru (2018, Santo Domingo, Unfunded) Offers a platform providing last-mile delivery services Added to Editor's Pick Nubiquo (2013, Cordoba, Unfunded) Platform offering suite solution for direct sales companies
- 15. Latam Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved. Acquisitions List of Acquisitions in Latam Tech in February 2022 Latam Tech: Acquisitions 15 Acq. Date Company Acquirer Deal Size 01 Feb 2022 Radar(2017) ERP software provider for educational institutions Colegium 03 Feb 2022 FraudKeeper(2019, Rosario) Provider of an AI-enabled fraudulent transaction monitoring platform for insurers Charles Taylor 03 Feb 2022 Conpass(2015, Florianopolis, $0.2M) Interactive guides for customer self service and reducing churn Omie 07 Feb 2022 Cemise(2016, Aracaju) Online platform for booking appointments with doctors grupooncoclinicas.com.br $28.5M 09 Feb 2022 BookSloth(2018, San Juan) Book recommendation application BookClub 14 Feb 2022 Gupy(2015, Sao Paulo, $103.5M) Cloud-based platform for applicant tracking system Kenoby 16 Feb 2022 Orbia(2012, Sao Paulo) Marketplace offering multi-category products Bayer 16 Feb 2022 Juntoz.com(2015, Lima) Online marketplace of multi-category products Tiendas Efe
- 16. Latam Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved. Recent News (1/2) Recent News in Latam Tech in February 2022 Latam Tech:News 16 Exit News . ● Argentine Space Startup Satellogic Goes Public on Nasdaq Contxto . ● Evertec Agrees To Acquire Chilean Payments And Technology Company, Bbr Spa Business Wire . ● Altair acquires Cassini to enhance digital thread solutions on platform Seeking Alpha . ● Kenoby’s Acquisition of Gupy Global Legal Chronicle . ● Petix, Industry Leader in Premium, Sustainable Dog Pads acquired by Petz, Brazil’s Top Pet Ecosystem Company PRWeb . ● Ebanx Delays IPO Because of Market Volatility Fears Finance Magnates . ● Grupo EFE acquires marketplace Juntoz america-retail.com . ● BookClub acquires Puerto Rican startup BookSloth thezreview.com . People News . ● LatAm Fintech EBANX Announces Appointment of Paula Bellizia as Global Payments President Crowdfund Insider Company News . ● Maxihost Brings Its Bare Metal Cloud Platform to London HostingJournalist
- 17. Latam Tech - February 2022 Copyright © 2022, Tracxn Technologies Limited. All rights reserved. Explore more on Tracxn Explore more about Latam Tech on Tracxn Platform Latam Tech: Explore more on Tracxn Platform 17 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 Creditas 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 Recent News News on People News on Unicorns Upcoming Events Library Recent Reports Tracxn Blog Global Sector Landscape
- 18. Copyright © 2022, Tracxn Technologies Limited. All rights reserved. Any and all information either accessed from the website www.tracxn.com or having otherwise originated from Tracxn Technologies Private Limited including but not limited to the information contained herein ("Data") is the sole property of Tracxn Technologies Private Limited (hereinafter "Tracxn"). You shall not recirculate, distribute, transmit, publish, or sell the Data or any portion thereof in any form or by any means, either for commercial or non-commercial use, or permit any third party to use or distribute the Data or any portion thereof; to any other party, except with the prior written consent of Tracxn. You may however incorporate insubstantial portions, extracts, abstracts or summaries from the Data into analysis, presentations or tools for your customers or for your internal use, so long as Tracxn is clearly and visibly identified as the source of information. For further information please refer to our Terms of Use at www.tracxn.com