Ep. 72: Impact Startups stole the show & BIVA is the new NASDAQ
Welcome to Scenius Mexico: Your weekly newsletter on technology, innovation, and startups in Mexico.
Yes we got funding news, no it’s not from FinTech startups. This week's spotlight goes to HealthTech & EnergyTech startups successfully closing their Seed rounds. Fun fact: one of them made their announcement at the Bolsa Institucional de Valores (BIVA), Mexico's stock exchange, in a NASDAQ Billboard style. A new trend coming?
That’s not all, we’re also covering NXTP fund III, Flink acquisition, Alibaba Cloud landing in Mexico and more.
Let’s dive in!
Follow The Money
Meddi raised US$ 1.7 million Seed round
The round was led by Medical Device Resources LTD, a European fund specializing in global health technology. Other participants included Grupo CAPEM, Irrazonable (formerly Unreasonable México), Enlaces, and several regional angel investors. Meddi is offering a medical SaaS that offers practical and accessible health and wellness solutions through a single app. The app provides private medical coverage and exclusive benefits in pharmacies, clinical labs, opticians, and gyms.
Sector: HealthTech
Total raised to date: US$2 million
Founders: Pablo Emmanuel Aguirre Zavala, Gustavo Adrian Jimenez Gonzalez
Investors: Medical Device Resources LTD, Grupo CAPEM, Irrazonable, Enlaces
Solfium closed a US$ 3 million Seed round
Solfium is a startup dedicated to accelerating the adoption of distributed solar energy in Mexico with its tech-enabled ecosystem eliminating friction for consumers, installers, and component manufacturers. The round, announced at the Bolsa Institucional de Valores (BIVA), Mexico's stock exchange, was supported by a syndicate of investors. Solfium's founders will also benefit from access to a network of mentors, industry players, and investors through Katapult's acceleration program.
Sector: Solar Energy
Total raised to date: US$3 million
Founders: Andres Friedman, Zacharie Magnan
Investors: Redwood Ventures, RaliCap, Katapult VC, Savia Ventures
Startups News
Mexipay partners with ACI Worldwide
ACI Worldwide, specialized in real-time payment software, has partnered with Mexipay, a FinTech in Mexico, to transform the country's payment landscape. This collaboration aims to introduce ISO 20022 real-time payments and build upon Mexico's existing Electronic Interbank Payment System. Mexipay's focus is on leveraging ACI Worldwide's expertise to drive real-time payments and technological evolution, furthering financial inclusion and innovation in Mexico. The new payment technology by Mexipay is slated to be operational in early 2024, promising to increase access to financial services for the unbanked population in Mexico.
VC - Accelerators - M&A News
NXTP secures US$ 98 million for its fund III
Founded in 2011 and with offices in Buenos Aires, São Paulo, and Mexico City, NXTP has witnessed the regional startup ecosystem's growth. Darly Bendo, managing partner, has observed the increase in the quality of founders in the region, with many being 2X founders, and more of them now having a tech background. NXTP's investment focus includes B2B technology verticals like cloud software, fintech, e-commerce, B2B marketplaces, and data and AI. It aims to invest in 25 to 30 companies with this fund, primarily in Brazil but also in Mexico, and the rest of LATAM.
U.S.-based Webull acquired Mexican Flink
Webull, a U.S.-based low-commission online trading platform, has expanded into the Mexican market by acquiring Flink - a FinTech offering Mexican consumers commission-free investment in fractional shares of U.S.-listed companies. The acquisition also includes Mexican brokerage Vifaru Casa de Bolsa (acquired in May 2022 by Flink).
Webull plans to enhance Flink's offerings with a broader set of investment products, advanced technology, and support. This move is part of Webull's strategy to provide low-cost access to global markets and capitalize on the untapped demand for technology-based wealth solutions in Mexico's young, vibrant population.
For context, since launching in June 2020, Flink’s team has raised a total of US$ 70M, had 1M users by August 2021, 1.6M users in May 2022 (aiming for 4M users by the end of the year), and 1.7M users today. Financial terms of the deal were not disclosed.
Tecnológico de Monterrey launched the CATAL1.5°T initiative
The Tecnológico de Monterrey University, in partnership with the German Cooperation for Sustainable Development (GIZ) and EIT Climate-KIC, has launched the CATAL1.5°T initiative to support climate-focused startups in Latin America. This program aims to foster innovation in tackling global warming and limit the temperature increase to 1.5 degrees Celsius. It seeks to identify and support 10 startups committed to reducing greenhouse gas emissions and transitioning to a low-carbon economy. Selected startups will receive up to €100,000 and participate in a 5-month training program. To be eligible, startups must be early-stage startups, with fewer than 50 employees, assets under $3 million, and annual sales of less than $3 million. The deadline to apply is December 15th.
Rest of the World
Alibaba Cloud expands into Mexico
The cloud computing arm of the Chinese tech giant Alibaba Group has expanded into Mexico with its offering of public and private cloud computing services. The announcement coincided with a summit meeting between the Mexican and Chinese Presidents and marks Alibaba's strategic expansion into Mexico. Alibaba Cloud's foray into Mexico hopes to replicate its success in China and Europe, and further expand into Latin America.
Colombian Licify expands to Mexico
Licify is a construction tech (contech) startup offering a SaaS platform which streamlines the procurement processes for construction companies through a financial model. The team is now looking to capitalize on “nearshoring” opportunities and the resulting construction demands in Mexico, and will focus initially on Monterrey and Nuevo León. Licify has over 50 constructors and around 18,000 suppliers and contractors in Colombia and Mexico.
See you for the next edition. Have a question or any feedback? Just hit reply. I'd love to chat!
Arnaud