TLDR:
- Telefônica Brasil’s Vivo Ventures contributes to CRMBonus’ Series B extension round with US$5mn.
- Latin America ended 2023 with a record high of 3,069 fintechs across 26 countries.
In the world of financing, Vivo Ventures, the corporate venture capital arm of Telefônica Brasil (Vivo), contributed US$5mn to CRMBonus’ Series B extension round. CRMBonus uses AI to enhance relationships between companies and customers, with its ‘giftback concept’ gaining popularity in the Brazilian market. The investment further solidifies the partnership between Vivo and CRMBonus, with one of the startup’s solutions, Vale Bonus, being part of benefits offered by Vivo to its customers.
Latin America saw a surge in fintechs, ending 2023 with a record high of 3,069 across 26 countries. The IDB and Finnovista study revealed that the regional ecosystem is led by fintechs operating in Payments and Remittances, Loans, and Business Finance Management. Brazil, Mexico, and Colombia are the countries with the most fintechs, accounting for 57% of the total.
Huawei signed an agreement with Brazilian fintech association ABFintechs to provide its cloud solutions to local companies in Brazil. Claiming that its cloud can be 50% cheaper than competitors, Huawei aims to promote innovation and foster partnerships between the Brazilian and Chinese fintech markets. This move is expected to drive growth, efficiency, and development in the sector.
Argentina’s cleantech startup Kilimo closed its Series A funding at US$7.5mn, led by Emerald Technology Ventures. Specializing in water usage management solutions, Kilimo has benefited over 2,000 farmers in seven countries and saved 72 billion liters of water to date. Microsoft, Intel, and Coca-Cola are among the companies with which Kilimo is working to address water scarcity, particularly in drought-stricken Argentina.
Other notable developments include Nubank’s acquisition of Hyperplane, a Silicon Valley-based data intelligence company, and Omnik’s e-commerce seed round. Additionally, Transfero’s investment in Notus Labs aims to integrate banking, crypto, and financial systems through blockchain-based solutions, focusing on boosting adoption in both B2B and B2C markets.
