Tracxn - Geo Monthly Report - Latam Tech - Feb 2022

TRACXN MONTHLY REPORT
FEBRUARY 2022
LATAM TECH

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

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)

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

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
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
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
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

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
$20.00M Series A
Jive
1 portfolio companies | Diversified investment management firm
MOSS
$10.00M Series A
BlockFi
7 portfolio companies | App-based trading and lending solutions for
cryptocurrency
Trace Finance
$4.30M Seed
Circle Venture Capital
8 portfolio companies | Venture capital fund focused on micro investments
Trace Finance
$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
$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
$7.00M Series A

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
$34.00M Series C
Mundi Ventures
49 portfolio companies | Venture capital firm focused on B2B business model
and insurtech sectors
Betterfly
$125M Series C
THE CHAINSMOKERS
8 portfolio companies | Music Band
Trace Finance
$4.30M Seed
star26vc.com
1 portfolio companies | This page was built with Figment.so
Tpaga
$10.00M Series A
Moon Holdings Fund
1 portfolio companies | Venture capital firm focused on seed-stage investments
Ignite Tournaments
$7.00M Series A
New Ventures Mexico
2 portfolio companies | Adobe Capital backed startup accelerator and incubator
Tpaga
$10.00M Series A
hofv.com
1 portfolio companies |
Trace Finance
$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
$34.00M Series C
Cavalry Fund
3 portfolio companies | Venture capital fund focused on multiple sectors
Aligned
$34.00M Series C

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

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)
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
FOXBIT (2014, Sao Paulo, $20.0M, Series A)
OKXand
Mezubo (2020, Bogota, $5.5M, Seed)
Online marketplace for car title loans
Canary,DILA Capital,Sebastian Noguera Escallonand
Melonn (2012, Medellin, $4.5M, Seed)
Offers a platform for delivering parcels online
QED Investors, Global Founders Capital, Alter and 9
other Investors

13
Trace Finance (2020, Rio De Janeiro, $4.3M, Seed)
, Circle Venture Capital, Mantis VC and 10 other
Investors
Aligned (2020, Puerto Rico, $34.0M, Series C)
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
Avancargo (2016, Buenos Aires, $1.0M, Seed)
Online marketplace for trucks
Globant Ventures,Organizacion Roman,Grupo
Supervielleand
SuperOpa (2018, Campinas, $414K, Seed)
Online platform offering surplus food products
Bossa Novaand
Rebill (2018, Buenos Aires, $125K, Seed)
Cloud-based invoicing management and payment
collection solutions for businesses
Y Combinator,Startup Olé Acceleratorand
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
i4sea (2015, Salvador, $5.0M, Seed)
Provider of weather forecasting software for the
marine industry
Capital Lab,Bluetech Acceleratorand
AppGas (2020, Sao Paulo, Unfunded)
App-based platform offering doorstep LPG delivery
solutions
AltScore (2019, Quito, Undisclosed, Seed)
AI-enabled alternative credit scores for individuals
Kamay Ventures,Techstars,BuenTrip Venturesand

14
We Technologies (2012, Santiago, $2.0M, Series A)
Provider of IoT devices for decision making
HCS Capital Partners,ChileGlobal Ventures,Wayraand
Trebol (2021, Bogota, $125K, Seed)
Open banking aggregation API
Y Combinatorand
delt.ai (2019, Mexico City, $125K, Seed)
Digital banks for businesses
TrueFi, Y Combinator, Soma Capital and 2 other
Investors
Dr. Cash (2019, Pinheiros, $282K, Seed)
Online purchase financing platform for medical bills
Bossa Nova,Superjobs Venture Capitaland
Sistecrédito (1996, Envigado, Unfunded)
Online platform for point of sale financing
PayHop (2020, Sao Paulo, $2.2M, Seed)
Platform offering financing solution for retail
merchants
DOMO Invest,Citrino Gestaoand
Suculentando (2020, Sao Paulo, Unfunded)
Provider of garden monitoring and management
solutions
ContaÁgil (2016, Canoas, Undisclosed, Seed)
Cloud-based accounting solutions for small businesses
Bossa Nova,Ventiur,Poli Angelsand
SenseiNode (2021, Buenos Aires, Unfunded)
Blockchain-based infrastructure for nodes of
protocoals
11-11 DG Partnersand
For_Me (2018, Cordoba, Undisclosed, Seed)
Provider of a platform offering community marketing
solutions
Newtopiaand
Canguru (2018, Santo Domingo, Unfunded)
Offers a platform providing last-mile delivery services
Nubiquo (2013, Cordoba, Unfunded)
Platform offering suite solution for direct sales
companies

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

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

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

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Tracxn - Geo Monthly Report - Latam Tech - Feb 2022

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