INSUBCONTINENT EXCLUSIVE:
Sophia Wood is a Principal at Magma Partners, a Latin America-focused seed-stage VC firm with offices in Latin America, Asia, and the
United States Sophia is also the co-founder of LatAm List, an English language Latin American tech news source. SoftBank did not let up
the flow of capital to Brazil this month, staying busy despite the WeWork debacle
With two more $100 million-plus rounds in QuintoAndar and MadeiraMadeira, the Japanese investor has funded at least one more unicorn in the
September, SoftBank backed QuintoAndar for a $250 million Series D round alongside Dragoneer, General Atlantic and Kaszek Ventures, which
recently made headlines for raising $600 million to invest in Latin America
QuintoAndar is a real estate rental startup that simplifies the process of locating and renting an apartment in Brazil
They have seen property rentals grow 5x on their platform since raising a $70 million Series C just nine months ago.SoftBank stayed bullish
This drop-shipping business has grown to sell thousands of products online with a relatively capital-light model that connects buyers
directly with warehouses, saving on overhead costs
Madeira plans to use the capital to expand across Latin America, as well as improve logistics and customer service.David Arana, Konfio
small and medium businesses in Mexico that are currently underserved by the traditional banking sector
companies over the next 12 months
debt.This capital mints Konfio as one of the largest fintech startups in the region
It will also allow them to take on larger loan sizes
Konfio uses credit ratings to calculate risk and disburse loans within 24 hours, and at half the rate of a traditional bank loan.To date
Konfio has served over 1 million clients in what is currently a $100 billion market in Mexico
Santander InnoVentures, aCrew Capital, FJ Labs and Western Technology Investment.Klar was founded less than 10 months ago to help Mexicans
access free and fair financial services through digital banking
Currently Klar offers a debit and a credit product with transparent fees; today, only 15% of Mexicans have access to credit cards, most of
which have +60% interest rates and a lot of hidden fees
Klar wants to make banking accessible for everyone in Mexico through their free digital platform.This startup will be one to watch over the
an Opendoor clone in MexicoMexican property-tech startup Flat is taking the Opendoor model to Latin America
This startup raised an unprecedented $4.6 million in their pre-seed round led by ALL VP, with support from Liquid2 Ventures, Next Billion,
Flat will allow homeowners and buyers to gain access to accurate information about home prices (think Zillow in the United States ), as well
as managing the slow process of notarizing the purchase after the fact
With Flat, the startup manages everything from valuation to ownership transfer, all through their platform, and within 72 hours of
purchase.Flat will use this investment to vertically integrate within the Mexican market, rather than expanding across Latin America.News
facility granted by Crayhill Capital Management, a New York-based alternative asset management firm, at the beginning of the month
Mutuo Financiera is a vehicle fleet leasing company that focuses on clean energy transportation
The investment will help the startup acquire new compressed natural gas vehicles to serve increased demand in Mexico for clean
transportation alternatives.Brazilian growth-stage VC fund Base Partners closed a further $135 million to invest in scaling Latin American
The fund, founded by Fernando Spnola and Arthur Mizne and backed by over 43 limited partners, has previously invested in companies like
million led by Goldman Sachs and Point72 Ventures
Credijusto has processed more than $90 million in loans since they were founded in 2015 and closed a $100 million credit agreement with
Goldman Sachs just months before this round.Looking ahead to October, SoftBank is said to be evaluating several investments in Brazil and
We may see a few more unicorns in Brazil before the year is out
It is also likely that the Innovation Fund will make its way out of Brazil to other big markets like Colombia or Mexico, where SoftBank has
invested in the past.Accion Venture Lab launched a social impact fund and Ewa Capital began raising capital for a female-focused fund in
recently announced an undisclosed round from Axon Capital Partners
Billpocket has been accelerating e-payments in Mexico at a triple-digit pace since it started, carving out a name for itself in a
competitive space where incumbent Clip has already received funding from SoftBank.
