Clara secures another $80 million in capital
Ep. 129: Plus, Zapia $7.25 million Seed Round, Kiwi $10 million Seed Round, Visma acquisition of Lara AI, and more.
Your weekly newsletter on technology, startups, and VCs in Spanish-speaking Latin America.
Follow The Money
🇲🇽 Clara secures US$80 million in new funding
Mexican fintech Clara has secured US$80 million in funding, comprising US$40 million in equity from investors like Citi Ventures and Kaszek, and US$40 million in growth financing from General Catalyst. The funds will serve to accelerate its expansion across Latin America, and to bolster its sales teams in Brazil, Mexico, and Colombia, aiming to deepen its presence among mid-market and enterprise clients. Clara, which offers a corporate spend management solutions, serves over 20,000 businesses. The new capital will also support investments in artificial intelligence and the development of vertical-specific payment tools, such as virtual cards for the travel industry and fuel cards for logistics companies. Clara’s leadership team is confident in reaching global profitability by the end of 2025.
Sector: FinTech
Founders: Gerry Giacomán Colyer, Diego Iván García Escobedo
Investors: Citi Ventures, Kaszek, General Catalyst
🇲🇽 Vexi secures a credit line of up to US$17.5 million
Mexican Fintech Vexi has secured a structured credit line of up to MXN $300 million (approximately US$17.5 million) from Banco Covalto to expand its lending capacity and accelerate growth, particularly among the country’s emerging middle class and financially excluded populations. Backed by the company’s credit portfolio and denominated in pesos to avoid exchange rate risk, the facility enables Vexi to scale sustainably while maintaining its focus on financial inclusion. The funding will support the issuance of more credit products, especially first-time credit cards, and help users build their credit history. Vexi expects to grow its active user base by over 40% in the next year, double monthly credit placements, and launch new products. The deal is seen as a sign of growing collaboration between fintechs and banks in Mexico, where structured financing offers a path for inclusion-focused startups to scale without equity dilution.
Sector: FinTech
Founders: Gabriela Estrada, Cinthia Merlos
Investors: Banco Covalto
🇺🇾 Zapia raised a US$7.25 million Seed round extension
Uruguayan startup Zapia, which offers an AI-powered personal assistant via WhatsApp, has raised US$7.25 million in an extension of its seed round, bringing total funding to US$12.35 million. Founded in April 2023, Zapia helps over 3.5 million users across Latin America complete tasks like setting reminders, summarizing content, and managing purchases through a simple chat interface. With apps for iOS and Android and a strong AI team including former Google and TryoLabs engineers, the startup plans to launch an AI agent for real-world task automation via WhatsApp, including price comparisons and booking services.
Sector: Artificial Intelligence
Founders: Juan Pablo Pereira, Juan Olloniego, Nicolas Loeff
Investors: Prosus Ventures, Endeavor Catalyst, Anthos Capital, Factory HQ, SnR
Kiwi raised a US$10 million Seed round
Kiwi, a health-focused fintech, has launched its platform with US$10 million in seed funding to address Latin America's healthcare access gap through financial infrastructure tailored to the sector. Starting in Peru and with plans to expand to Mexico by 2026, Kiwi offers instant financing for patients and tailored banking tools for providers, such as medical leasing and credit lines. The startup already partners with 73 clinics in areas like dentistry and fertility, with 150 more in the pipeline. Its proprietary ML-based risk model aims to outperform traditional lenders in evaluating patient credit. With backing from U.S. healthcare-focused investors and ambitions to expand into all Latin America, Kiwi targets a US$60 billion out-of-pocket healthcare market in the region. The round includes US$2 million in equity and US$8 million in debt, mainly aimed at the Peruvian market.
Sector: FinTech - HealthTech
Founders: Gabriel Chirinos, Sebastian Chirinos
Investors: Tyler Johnson of HFD, MVRK Capital
Startups News
Ualá has partnered with Oxxo
Argentine fintech Ualá has partnered with Oxxo, one of Mexico's largest convenience store chains, to allow users to withdraw cash directly from its stores. Ualá customers can withdraw up to MXN 3,000 (US$ 180) per transaction by inserting their physical Mastercard debit card and entering their PIN, with a MXN 20 (US$ 1.20) commission per withdrawal. This partnership aims to expand cash access points for Ualá users across Mexico, offering greater convenience without relying on traditional bank branches or ATMs.
Yango new food delivery services in Colombia
Headquartered in Dubai, Yango is a global mobility and delivery app. It recently has expanded its services in Colombia by introducing food delivery to its existing ride-hailing and parcel logistics offerings. Initially launched in cities like Medellín, Cali, and Barranquilla, Yango has rapidly gained traction in the country. Yango's food delivery service aims to provide efficient and affordable options, leveraging its technological infrastructure to optimize delivery times and compete against established platforms such as Rappi, and DiDi.
🇨🇴 Alegra has partnered with Mastercard
Colombian accounting software Alegra has partnered with Mastercard to offer small and medium-sized businesses (SMEs) in Latin America enhanced digital tools to streamline operations and improve financial management. Through this alliance, Mastercard Business cardholders will gain access to Alegra’s cloud-based invoicing and accounting platform, while issuers can integrate new tech solutions and training programs into their services.
VC - M&A News
Punto Cero Ventures officially launches
Punto Cero Ventures is a newly launched angel investment group focused on supporting early-stage startups across Latin America, particularly at the pre-seed and seed stages. Formed by a diverse team of 14 professionals from sectors like tech, banking, and real estate, and including founders and former employees of companies like Cornershop, J.P. Morgan, and Instacart, the group has already invested in four startups: Finnecto, RIAL, SignatureAPI, and Lokal. Punto Cero aims to back visionary teams developing disruptive tech solutions by offering capital, expert networks, and strategic support to accelerate their growth and impact.
Visma has acquired Lara AI 🇦🇷
Visma has acquired Lara AI, an Argentine HR tech startup that leverages artificial intelligence to automate routine HR tasks and improve employee experience. This acquisition strengthens Visma’s HR technology portfolio in Latin America, where it already serves over 4.5 million users. Lara AI's platform functions as a virtual HR Business Partner, helping organizations reduce administrative workload and focus on strategic initiatives like talent development and employee engagement. Visma plans to accelerate the adoption of Lara AI’s solutions across the region, reinforcing its commitment to digital innovation in the HR space.
Economy
Mexico received US$14.27 B in remittances during Q1 of 2025
Mexico received US$14.27 billion in remittances during the first quarter of 2025, a 1.3% increase year-over-year, despite concerns over stricter U.S. immigration policies under President Donald Trump. March alone saw a 2.7% rise compared to the previous year, although the average remittance amount dipped slightly by 0.4% to $383. Despite fears of potential remittance taxes and deportations, analysts, including BBVA, do not foresee major disruptions. Remittances remain a key source of income for Mexico, accounting for nearly 4% of GDP.
Expansion Plans
🇵🇱 RiskSeal has expanded into Mexico
Poland-based RiskSeal, a global alternative credit risk data platform, has launched its Digital Credit Scoring solution in Mexico to support financial institutions in making more inclusive lending decisions. With fewer than half of Mexican adults holding bank accounts, RiskSeal uses real-time data from over 200 platforms, including social media and e-commerce, to evaluate creditworthiness beyond traditional metrics. The tool enables lenders to assess 83% of Mexican applicants, expanding access to credit for previously underserved populations.
🇩🇪 FinMont has expanded into Colombia
Germany-based FinMont, a global payment orchestration platform, has expanded into Latin America by opening a new office in Bogotá, Colombia. This strategic move aims to provide localized support to regional clients and capitalize on the growing demand for streamlined, multi-channel payment solutions in the travel market. The Bogotá office will serve as a regional hub, enabling FinMont to deliver faster, more tailored services while working closely with regional businesses to enhance their payment infrastructures.
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