TLDR:
- Latin American startups closed 76 funding rounds for a total of US$846mn in May 2024, with major deals in Brazil, Mexico, and Colombia.
- Microsoft reached an agreement with Brazilian investment fund BTG Pactual’s Timberland Investment Group to purchase 8Mt of carbon removal credits, generating in projects in the Cerrado biome.
Latin American startups saw a significant increase in funding in May 2024, with 76 funding rounds totaling US$846mn. Major deals, such as fintech CloudWalk’s US$308mn round in Brazil, contributed to this surge. Microsoft also made headlines by agreeing to purchase 8Mt of carbon removal credits from Brazilian investment fund BTG Pactual’s Timberland Investment Group until 2043. In addition, Mexican fintech Clip secured US$100mn to accelerate product development initiatives. Other noteworthy deals include Uruguayan fintech Prometeo expanding its services in the US after a US$13mn round and Brazilian IT company Compass UOL acquiring US-based AWS cloud specialist Oak Rocket. Brazilian fintech Nomad also made moves by acquiring Melhor Câmbio, a marketplace for tourism exchange. Finally, Brazilian logistics tech company LogShare closed a seed round worth 12mn reais to drive expansion in new segments and countries in Latin America.
