> D1 Capital Partners, Founders Fund, Ribbit Capital and BOND led a USD485m Series D in Mexican car resale marketplace Kavak, at a reported USD4b valuation.
- SoftBank, DST Global and Greenoaks Capital led an undisclosed round in 2020 at a reported USD1.2b valuation; SoftBank and General Atlantic invested earlier through a secondary sale.
- Kavak plans to launch in Brazil in the next 60 days, according to CEO Carlos García Ottati: “In Brazil, you still have the same problems that you have in Mexico, but Brazil is a little more developed, especially in fintech, which is light years ahead of Mexico.”
> Alkeon Capital led a USD150m round for dLocal, a Uruguay-based cross-border payment platform, with participation from BOND, D1 Capital Partners and Tiger Global, at a reported USD5b valuation.
- General Atlantic led a USD200m round in 2020 at a reported USD1.2b valuation.
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> #EDTECH TCV led a BRL375m Series C for Hotmart, a Brazilian content monetization platform, with participation from Alkeon Capital.
> #EDTECH Mercado Libre, Globant, and Riverwood Capital invested USD50m in Digital House, an Argentine provider of technical training for developers, with follow-on from KASZEK.
- TPG’s The Rise Fund led a USD20m Series B in 2017; KASZEK first invested earlier that same year.
> US-based growth equity fund FTV Capital led a BRL190m Series B for Vórtx, a Brazilian asset custody and issuance platform for corporate trusts.
- Pedro Englert, Marcelo Maisonnave and Eduardo Glitz of XP invested BRL7m in 2018.
> IFC and Goldman Sachs led a BRL150m round for OpenCo, a Brazilian unsecured personal credit platform formed by the merger of Brazilian fintechs Geru and Rebel earlier this year, with participation from Raiz Investimentos, and follow-on from monashees, LTS, Chromo and Sampa.
- monashees and XP invested USD4m in 2018.
> Ribbit Capital led a USD26.7m round for Cora, a Brazilian lending platform for SMEs, with participation from KASZEK, QED Investors and Greenoaks Capital.
- Cora raised an undisclosed round from its employees earlier this year; KASZEK led a USD10m seed round in 2019.
- Cora was granted a banking license by the Brazilian Central Bank in 2020, enabling them to receive interbank transfers, issue credit and debit cards, and ensure deposit withdrawals.
> Vostok Emerging Finance, Dunross & Co and Atlant Fonder made a USD7m follow-on investment in FinanZero, a Brazilian consumer credit marketplace.
- FinanZero raised a BRL42m round from these players in 2019; Vostok led a BRL12m round in 2018.
> Mountain Nazca led a USD2.3m pre-seed round for Meru, a Mexican wholesale e-commerce platform connecting SMEs in Latin America with suppliers in China, with participation from Ricardo Weder (Jüsto), Roger Laughlin (Kavak), and David Geisen (Mercado Libre).
> #PROPTECH Liquid2 Ventures and Emles Venture Partners led a USD2m round for Kredi, a Mexican real estate financing platform for home buyers.
> #EDTECH E3 Negócios invested BRL8m in Kenzie Academy Brasil, a Brazilian coding school supporting students’ placement after course completion.
> Astella Investimentos led a BRL6.5m seed round for DeliRec, a Brazilian social platform for food recipe discovery.