Private Equity & Venture Funding In LATAM Fintech Shows Signs Of COVID Economic Recovery
Recent headlines in Latin America (LATAM) include both private equity and venture funding news, particularly in the fintech industry. Also, we see indicators of strength in the LATAM economy, despite the COVID-19 pandemic. For the full details and weekly news delivered to your inbox subscribe to our LATAM newsletter.
Funding News
Blackstone-backed Brazilian Private Equity Company raises $1.8B For Latin American Infrastructure Fund
Patria Investimentos, a Brazilian private equity firm, raised more than $1.8 billion for a fund to invest in Latin American infrastructure. It focuses on Brazil, LATAM’s (Latin America) largest economy. Key investment targets include: logistics, energy and telecommunications. The capital raise indicates opportunities investors see in the Country despite the coronavirus pandemic.
Other headlines include:
Google’s AI-Focused Venture Fund Leads $14M Fundraise For Mexican Fintech Startup
Google’s AI-focused venture fund led a $14 million Series A round for Fondeadora, a FinTech startup based in Mexico City. Serving a market that still relies on cash for most transitions, Fondeadora seeks to democratize savings accounts. With it, users can open an account without visiting a branch, and receive a Mastercard debit card. Using the platform, users can choose to receive notifications after purchases, lock and unlock their cards, send instant transfers to other users, and more. There is no monthly subscription fee and no foreign transaction fee.
Brazilian Fintech Neon Raises $300M Series C
General Atlantic, a leading global growth equity firm, led a $300 Series C round for Neon Pagamentos, a top Brazilian fintech firm. It is the third funding round to date. Since its founding, Neon Pagamentos has expanded product offerings from simple digital accounts to investment products, credit cards, and personal loans. It also moved away from its consumer focus to small businesses. This transition has been accelerated by recent mergers and acquisitions.
Yalochat Raises $15M Series B
Yalochat, a messaging based CRM platform focused on emerging markets, announced a $15M Series B round. The platform has seen a 10-fold increase in messaging volume since the start of the COVID pandemic as more companies connect digitally on WhatsApp. In total it has raised a total of $25M.
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Originally published at https://www.dataplor.com.
