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Welcome to another edition of 🔍 Startup Researcher - Latin America, your essential digest delivering the latest news and premium insights on startups and venture capital across the region 🌍
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📰 Important News
- Digital grocery platform Jüsto shut down its operations in Mexico, citing a combination of financial, operational, and strategic challenges.
- ClickBus appointed Mauricio Boesche as its new Director of Strategy and Operations to strengthen the company's strategic narrative and execution.
- Colombian fintech Refácil launched "WhatsApp Payments" a new solution for companies to manage billing and collections directly within the app.
- Appmax has promoted Evelyn Torezone to Chief Technology Officer, where she will now lead a team of 120 professionals.
- Nu Colombia and Gopass partnered to allow toll payments with Nu cards, providing benefits such as free tolls and a complimentary month of Gopass Premium.
💸 Top Funding Rounds
- Mexican fintech Plata secured a record $500 million in private credit, marking the largest deal for a digital financial services platform in the country's history.
- iCred raised $208 million through two Credit Rights Investment Funds to fuel its expansion in the payroll-deductible loan market.
- Colombian fintech Monet raised a $24 million Series A to enhance its small-ticket lending platform for underserved users.
- Leona Health closed a $14 million seed round led by a16z to launch its AI co-pilot designed to manage WhatsApp patient messages for doctors.
- Altis secured $10 million via a Credit Rights Investment Fund structured by Galapagos Capital to expand its credit-as-a-service platform.
💰️ Notable Exits
- Banorte completed the $50 million acquisition of the remaining 44.28% of RappiCard to gain full ownership.
- Retail intelligence firm Rock Encantech acquired Open Finance startup Akropoli to merge consumer behavior and financial data.
- Itaú Chile announced an agreement to acquire 100% of Klap for $43.9 million, a strategic move to strengthen its payment solutions.
🏦 About Investors
- Vivo increased its corporate venture fund by $27 million to reach $85 million total, positioning Vivo Ventures among Brazil’s largest CVCs.
- Triaxis, a VC backed by BNDES Criatec funds, plans to double its annual investments in 2026 as it scales capital deployment.
- Inova Startups launched its fifth edition, attracting over 1,000 applicants nationwide and planning to accelerate about 20 Brazilian startups in 2026.
- Anjos do Brasil closed 2025 with 22 investments, over 530 members, and new verticals while warning capital gains taxes remain a barrier to angel investing.
🚀Startup of the Week
Introducing our Startup of the Week 🏆
Plata
Founded in Mexico City in summer 2022 by former banker Neri Tollardo, Plata set out to build a disciplined, tech-first financial platform and has quickly evolved into a fast-scaling digital banking contender with a banking license and a hybrid onboarding model that pairs digital flows with in-person verification. Since launching operations in April 2023, it has grown to 2.5 million active customers and a 3,000+ employee team, including 500+ engineers, offering its flagship credit product while building its own banking infrastructure with AI support. Last week, Plata secured up to $500 million in private credit arranged by Nomura, adding to backing from Kora, TelevisaUnivision, Moore Strategic Ventures, Hedosophia, Fasanara, and others, as it pushes toward full bank operations to modernize Mexico’s financial experience.
💼 Investor of the Week
Introducing our Investor of the Week 🏆
Vivo Ventures
Vivo Ventures, the corporate venture capital arm of Vivo, has been investing since 2022 to plug mature startups into Vivo’s fast-growing digital services ecosystem beyond core telecom. After adding a fresh $27 million, the fund now totals $85 million, with Vivo writing 98% of the new check and Telefónica Open Innovation contributing the rest. It typically targets later-stage companies with more traction, backing them with roughly $900,000 to $4.5 million per deal across fintech, health, education, and entertainment, and it is now carving out capacity for AI application plays. With 12 portfolio companies including Agrolend, Asaas, Klubi, Klavi, Conexa, and Digibee, it differentiates by turning investments into commercial partnerships, highlighted by CRMBonus, later partially acquired by iFood. Led by innovation VP Rodrigo Gruner, alongside the Vivo Ventures team headed by Phillip Trauer, the fund’s mission is clear: build strategic, revenue-linked bets that strengthen Vivo’s platform advantage in Brazil.
🤑 Opportunity Radar
Call for Applications: The Startup Innovation Challenge 2026
Applications are now open for the Startup Innovation Challenge 2026 by Energie AG Oberösterreich, a global opportunity for startups building solutions in energy, AI, and sustainability. Apply by 4 January 2026 to compete for up to $50,000 in PoC funding, hands-on collaboration with an energy utility, and access to technical experts and real-world data; collaboration is primarily remote, with optional engagement in Austria. The program targets early- to growth-stage startups and professional teams ready to pilot validated solutions, with Pitch Day scheduled for March 2026. Apply now to partner with an established energy group and accelerate your path to enterprise deployment.
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