Can Two U.S. Unicorns Rewire LatAm Fintech Space?
Ep. 130: BioPlaster $655K Bridge round, Diio $2.5 million Seed round, Alina VC's new FOW fund, and more.
Your weekly newsletter on technology, startups, and VCs in Spanish-speaking Latin America.
Product innovation tends to win in financial services.
Ever since digital customer-acquisition channels became dominant and eroded the branch-network moats that banks had spent decades building, the edge has shifted to whoever ships the most useful products fastest.
In the United States and Europe, the rule is clear: build the best product and you usually win. But does this same principle apply in Latin America? We're about to witness a fascinating test case.
Fintech companies excel at product innovation, while established banks are increasingly improving theirs (or, at least, rapidly copying or acquiring the innovations fintech comes up with).
Stablecoins are among the most significant recent innovations in finance, offering superior infrastructure for specific use cases. Stripe, which called stablecoins “room-temperature superconductors for financial services” in its latest annual letter, underscored that view by acquiring Bridge for US $1.1 billion.
Now, two of the most innovative U.S. Fintechs (Stripe & Ramp) have teamed up to tackle cross-border inefficiencies in Latin America, marrying Stripe’s global payments stack with Ramp’s spend-management platform.
The integration enables issuance of new card programs in multiple countries at once, starting with Argentina, Colombia, Ecuador, Mexico, Peru and Chile. The focus on Latin America aims to address the growing demand for consumers and businesses to store value and fund everyday transactions in economies often characterized by currency volatility.
Stripe’s CEO, Patrick Collison, described the move as a game-changer for cross-border payments and financial access in regions where volatility and inefficiency have been persistent hurdles.
Will this partnership establish a new benchmark for cross-border business payments throughout Latin America and prove, once and for all, that product innovation decides the winners here too?
Follow The Money
🇲🇽 BioPlaster raised a US$655,000 Bridge round
BioPlaster Research has raised US$655,000 in a bridge round to accelerate the launch of its pilot plant in Mérida, Mexico, focused on producing algae-based films and bags as sustainable alternatives to kraft and plastic packaging. The funding will support increased production, commercialization efforts, and strategic partnerships. The startup has already secured deals with Carnival Cruise Line, NASC Logistics, and key equipment suppliers, and aims to begin full-scale operations in the coming months, targeting significant CO₂ emission reductions through regenerative packaging solutions.
Sector: BioTech
Founders: Andrea Bonilla, Daniel Ruiz Guido
Investors: Zenani Capital, Espera Ventures, Amplifica Capital, GridX, Rindani Capital, Zero by Fifty
🇨🇱 Diio raised a US$2.5 million Seed round
Chilean startup Diio has raised US$2.5 million in a seed round to scale its AI-powered sales assistant across Latin America. Diio's platform analyzes sales interactions (calls, meetings, and messages) to provide real-time insights that help teams close more deals and reduce churn. Already adopted by over 200 companies, including Buk, Xepelin, and Betterfly, Diio reports significant operational improvements and increased conversion rates. The funding will support product refinement and expansion, with a focus on strengthening its presence in Colombia.
Sector: FinTech
Founders: Paolo Colonnello, Nicolás Kipreos
Investors: Base10 Partners
🇵🇦 Neutrl raised a US$ 5 million Seed round
Panama City-based DeFi startup Neutrl has raised US$ 5 million in a Seed round to scale its product $NUSD, a market-neutral, yield-generating synthetic dollar designed for institutional and OTC trading use. Neutrl aims to bridge the gap between traditional finance and DeFi by bringing greater capital efficiency and liquidity to decentralized markets. The team plans to use the funds to further develop its protocol, expand regionally, and enhance financial infrastructure for the Latin American crypto ecosystem.
Sector: FinTech - DeFi
Founders: Behrin Naidoo
Investors: STIX, Accomplice, Amber Group, SCB Limited (SIG), Figment Capital, Nascent
Startups News
🇵🇪 Riqra surpass US$1 billion in processed transactions
Peruvian startup Riqra has surpassed US$1 billion in processed transactions, solidifying its presence in Chile and setting its sights on expansion into Ecuador, Colombia, and Central America. Founded in 2017, Riqra began as a digital solution to connect corner stores with distributors and evolved through multiple business models before settling on a tailored SaaS platform. Positioned as a more accessible alternative to platforms like Salesforce and Vitex, Riqra aims to scale across Latin America with a model built specifically for the needs of the region’s B2B market.
🇨🇴 Monet partneres with global impact platform Kiva
Colombian Fintech Monet has partnered with global impact platform Kiva to deliver microloans to 90,000 underserved women in Colombia, including entrepreneurs and heads of household. Through this alliance, Kiva raised US$100,000 to fund loans of up to US $150 per borrower, aimed at improving working capital and household cash flow. The initiative seeks to close Colombia’s persistent gender credit gap, where women, despite having lower default rates, remain underrepresented in financial access. Monet, which leverages Open Banking to offer instant loans, has already disbursed over 2.2 million credits, with 71% of its users lacking formal credit history or having negative credit records.
VC - Accelerators - M&A News
🇦🇷 Moova acquires Barcelona-based startup Vonzu
Argentinian logistics startup Moova has acquired Barcelona-based startup Vonzu to accelerate its expansion into the European market, starting with Spain and Portugal. The acquisition brings Moova advanced logistics software, an experienced team, and a strong client base in the region. Founded in 2018, Moova already operates in over 10 countries, offering real-time delivery management solutions for companies like Leroy Merlin and Adidas. Vonzu’s SaaS platform for optimizing retail and transportation logistics will enhance Moova’s capabilities, allowing it to scale its presence in Europe while strengthening its global supply chain offering.
🇨🇱 Green Hub, Chile newest revenue-based debt fund
BID Lab and ChileGlobal Ventures have launched Green Hub, a US $400,000 revenue-based debt fund aimed at supporting at least 10 early-stage climate tech startups in Chile during 2025. Managed by Fundación Chile, the fund offers flexible loans of up to US $40,000 to startups previously accelerated by ChileGlobal Ventures, helping them scale innovations focused on sustainability, climate resilience, and environmental impact. The fund targets startups that are often ineligible for venture capital or traditional bank financing and requires adherence to ESG standards and impact monitoring. It seeks to fill a critical financing gap while advancing Chile’s green innovation ecosystem, particularly in technologies such as biocosmetics, functional foods, and sustainable resource use.
🇦🇷 Alina VC launches a Future of Work new fund
Alina VC has officially launched its first fund, becoming Latin America’s first venture capital firm dedicated exclusively to the Future of Work (FoW) vertical. With a target size of US$10 million, the fund will back early-stage tech startups across key FoW themes like talent development, upskilling, labor inclusion, gig economy, HR tech, and AI-driven productivity. Alina plans to invest in 30 startups with initial tickets of US$100,000 and follow-ons of up to US$200,000. Portfolio highlights already include Lara AI, Maslow, and Torre ai.
🇨🇴 El Camino de la Pantera accelerator
BID Lab has partnered with Pantera Makers to launch El Camino de la Pantera, the first accelerator focused on bio-businesses in Colombia’s Amazon region, backed by a COP 4 billion (approx. US$ 1 million) investment. The three-year initiative aims to support 135 sustainability-driven startups, with a strong focus on women-led ventures, across Putumayo, Caquetá, and Amazonas. The program will offer training, mentorship, and internationalization support to foster a bioeconomy rooted in local biodiversity, such as medicinal plants, biocosmetics, and functional foods. The accelerator also includes an advanced impact measurement system and seeks to position southern Colombia as a regional hub for sustainable innovation.
Economy
Mexico regulators are signaling greater openness to banking innovation
Mexico’s financial regulators are signaling greater openness to banking innovation, with the CNBV announcing efforts to streamline rules for launching and operating new digital banks. In the past year, three fully digital banks (Banco Plata, Nu México, and Revolut Bank) received authorization, joining seven existing digital players in the country. CNBV President Jesús de la Fuente emphasized the delicate balance between fostering innovation and protecting users. The central bank is also playing a crucial role in this transformation. Banxico Governor Victoria Rodríguez Ceja confirmed the institution's commitment to supporting new market entrants, including six new banks and 86 fintech companies, as part of Mexico's broader strategy to enhance digitalization and financial inclusion.
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Abrazo,
Arnaud
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