CEOs Are Stepping Down Across SoftBank’s LatAm Unicorn Portfolio | Ep. 128
Your weekly newsletter on technology, startups, and VCs in Spanish-speaking Latin America.
I am glad to announce the launch of LatAm AI Benchmarks 2025.
Alongside SaaSholic and in partnership with Amazon Web Services, we worked to give the region its first deep, data-backed look at how more than 400 startups are deploying and using artificial intelligence.
Early numbers confirm what I have sensed over the last few months on the ground: AI is now the heartbeat of venture funding in Latin America, too. Startups with AI at their core captured 70 percent of all rounds closed by companies founded between 2023 and 2025, a share on par with the United States and Europe.
Teams that can turn those capabilities into revenue are reaping the rewards, closing seed rounds up to three times larger than those of peers still experimenting with generative tools. Meanwhile, 60 percent of all new ventures launched in the past three years are “AI-native.”
Rather than chasing “the next OpenAI,” the region excels at applying existing models to local pain points (logistics, financial inclusion, agritech) as accessible cloud infrastructure lowers the barrier to entry.
For investors, it is an invitation to back execution-heavy teams solving hard Latin American problems at rational price levels.
The full report is free to download here and is packed with benchmark charts on funding, valuation multiples, revenue traction, and tech-stack choices.
The insights should serve anyone betting on Latin America’s tech future: founders, operators, analysts, and policymakers alike.
Now, let’s dive into this week’s most relevant news!
Follow The Money
TaxDown secures a €4 million investment
TaxDown, a Spanish Fintech specializing in AI-driven tax filing, has secured a €4 million investment from Bonsai Partners to accelerate its growth in Mexico and Latin America. This funding will enhance TaxDown's proprietary AI platform, which streamlines tax declarations by automatically applying all eligible deductions. The startup aims to expand its presence in Mexico, where it has already become a leading digital tax solution. With a team of over 200 tax advisors, TaxDown combines advanced technology with expert support to offer a personalized and efficient tax filing experience.
Sector: FinTech
Founders: Enrique García Moreno, Alvaro Falcones Muñoz, Joaquin Fernandez
Investors: Bonsai Partners
🇺🇾 Yeda raises a US$300.000 Pre-seed round
Uruguayan HealthTech Yeda Health specializes in personalized metabolic health solutions. The team now aims to integrate its platform with fitness centers across the region. Their product seeks to provide gym-goers with tailored health insights, enhancing their wellness journeys through data-driven recommendations. The funds will support Yeda Health's efforts to forge partnerships with major gym chains, adapt its technology for broader use, and scale its operations throughout Latin America.
Sector: HealthTech
Founders: Fernando Slamovitz
Investors: OurCrowd, Uruguay Innovation Hub, Time Labs
🇵🇪 MiFibra secures a US$15 million loan
MiFibra, a Peruvian internet service provider, has secured a US$15 million long-term loan from Blue like an Orange Sustainable Capital to expand its fiber-optic network beyond Lima. The funding aims to provide affordable, high-speed internet to underserved regions, targeting over 2 million households across six regions. As part of its social commitment, MiFibra will offer free high-speed internet to public schools, benefiting approximately 30,000 students in marginalized communities.
Sector: Internet Service Provider
Founders: Carlos Villegas
Investors: Blue like an Orange
Startups News
Nowports Co-founder step down as CEO
Nowports, the Mexican unicorn startup digitalizing freight forward, has announced a leadership transition: co-founder Alfonso de los Ríos has stepped down as CEO to become the company's president. Fernando Poitevin, who joined as COO in August 2024, will now assume the CEO role. De los Ríos, who co-founded Nowports in 2018 and led it to unicorn status in 2022, will focus on strategic initiatives, particularly in artificial intelligence. This transition follows the earlier departure of co-founder Maximiliano Casal from operational duties, as Nowports continues to expand its presence across Latin America, the U.S., and China.
Nowports now joins a growing list of SoftBank portfolio companies overhauling their co-founding team. Just last week, Rappi co-founder Sebastián Mejía moved out of daily operations, and after Kavak’s steep 75% down-round, chances are growing that a leadership reshuffle could reach the used-car marketplace next. Whether coincidence or a portfolio-wide reset, SoftBank’s LatAm unicorns are clearly entering a new phase of disciplined governance.
inDrive partners with Mexican startup Veikul
inDrive, the mobility startup, has partnered with Mexican fleet management startup Veikul to expand its vehicle fleet to 500 units by the end of 2025. This collaboration aims to enhance access for drivers in Mexico City, Monterrey, Mérida, and Guadalajara, particularly benefiting those without personal vehicles. Veikul will provide comprehensive maintenance services, including fuel, technical inspections, and cleaning. The initiative seeks to lower economic barriers for drivers, offering affordable, all-inclusive fleet solutions that enable more individuals to participate in the ride-hailing economy.
Spin by OXXO partners with Félix Pago
Spin by OXXO, the digital wallet service of the Mexican convenience store chain OXXO, has partnered with Félix Pago, a WhatsApp-based remittance platform, to streamline cross-border money transfers from the United States to Mexico. This collaboration enables users to generate a payment link within the Spin app, which can be shared via WhatsApp with senders in the U.S. Once the sender completes the transaction through Félix Pago, the funds are instantly available in the recipient's Spin account. The received funds can be used for various transactions within the app or withdrawn at any of OXXO's over 23,000 stores nationwide. Currently, this service is available to users with a verified Spin Más (N2) account.
VC - M&A News
🇨🇴 Simma Capital has launched Simma Fintech +
Simma Capital has launched Simma Fintech +, a new fund aimed at supporting early-stage fintech startups in Colombia, with an initial investment of US$ 3.4 million from Ruta N and Bancóldex. The fund, expected to debut in the third quarter of 2025, plans to invest in at least 30 startups developing innovative financial solutions. This initiative is part of the Medellín Venture Capital program, which seeks to strengthen the local entrepreneurial ecosystem and position Medellín as a key hub for innovation in Latin America.
Economy
🇲🇽 Port of Manzanillo to become LatAm's busiest maritime hub
Mexico is undertaking a significant expansion of its largest seaport, the Port of Manzanillo, aiming to transform it into Latin America's busiest maritime hub. The project plans to increase the port's capacity from nearly 4 million 20-foot containers handled in 2024 to 10 million by 2030. This multibillion-dollar investment is a central component of Sheinbaum's "Plan Mexico", designed to stimulate economic growth through public infrastructure projects. Port officials report that U.S. tariffs have had minimal impact on operations, as the majority of imports originate from Asia and support domestic manufacturing. The expansion will also enhance the port's capacity to manage hydrocarbon products, aligning with Mexico's broader strategy to modernize its industrial infrastructure.
Expansion Plans
🇺🇦 Peopleforce to expand into Argentina
Ukrainian startup Peopleforce, an HR management platform, has secured US$5.4 million in a pre-Series A funding round to accelerate its expansion in Argentina and across Latin America. The startup plans to use the funds to strengthen local teams in marketing, sales, and customer success in Argentina, develop automation functions tailored to regional labor regulations, invest in AI-driven HR solutions, and enhance support and onboarding processes for expanding companies.
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Abrazo,
Arnaud
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