Aug, 2021

Startup
activity report
Your 360º monthly view of the Latam

startup ecosystem

Overview of August

NUMBER 
 VOLUME

OF ROUNDS IN USD M&As

74 1.58Bi 24

Two new unicorns in Brazilian lands!

The startup Unico raised USD 120M in Series C,
and the retailtech Nuvemshop performed the

highest Series E in Latin America, USD 500M.

‘Every dog has its day’

Petz acquired the Zee Dog platform and its
subsidiaries for USD 137.3M, the month's most

expressive deal.

Fintechs are back in the game

The sector encompasses the highest number of
invested startups, both in Brazil and Mexico. Two

Series B stood out: Cora (Brazil) 120.9M and

Flink (Mexico) USD 57M.

Brazilian
startups
01. Investments trends

5.2Bi

5Bi

2,5Bi
2.2Bi

1.9Bi
1.4Bi
1.2Bi
1Bi

77 0 M

500M

115 148 167 164 191 121

NUMBER OF VOLUME IN AVG. ROUND

ROUNDS USD SIZE IN USD

67 1.4Bi 19.2M

2 0

3 2

13 0

3 0

3 0

3 38

b k
Soft an
1st
p
I oranga Ventures
1st
q
E seed
1st

Fintech

16 15

Other 39
6
52 7 Edtech

6
6

Logtech

29 22 startups raise d
between USD 1M
and USD 10M
22

7
3

< 1M 1M–10M 10M–50M > 50M

S o ã P aulo Paraná Minas Gerais

42 7 4
Rio de Janeiro Santa Catarina Rio Gd. do Sul

4 3 2
Pará B ahia Ceará
1 1 1
Paraíba
1

Nuvemsho p

PetLove

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RETAILTECH • B2B New u nicorn!

Nuvemsho p
Bra il z / Argentina

F d un ing

Series E (USD 500M) USD 628.9M

fun d
ingroun
lastest stage d total raise d
4X months
b
time since lastsecon
etween fun ingto last an dd d lastest round
Insight Partners (lead), Tiger Global Management
(lead). ThornTree Capital Partners, Sunley House
Capital Management, Qualcomm Ventures, Kaszek
Ventures, Alkeon Capital, Accel, VMG Partners, Owl

Rock Capital
investors in d
lastest roun this round
investors

Accel (Series E, Series D)

ThornTree Capital Partners (Series E, Series D )

Qualcomm Ventures (Series E, Series D, Series C )

Kaszek Ventures (Series E, Series D, Series C, + 3)

investors who participate d in previous rounds
ey data
Key ata

600% in 1.5 years

Employee growth
R$ 3,5 Bi R$ 7 Bi
2020 GMV Projected 2021 GMV

PETS • B2B2C
PetLove
Bra il, z São Paulo
F d un ing

Series C (USD 144M) USD 229.3M

d
fun ing stage total raise d
X
time since last fun ing d
Riverwood Capital (lead)

Tarpon, SoftBank, L Catterton, Porto Seguro,

Monashees
investors in this roun d
Monashees (Series C, Series B, Seed)

L Catterton (Series C, Series B)

SoftBank (Series C, Series B)

investors who participated in previous rounds

Key data
+27% ~R$ 500 MM
Employee growth in last 6 month 2020 Revenue
USD 578MM
Next Fundraise target

FINTECH • B2B2 C
Cora
Bra il, z São Paulo
F d un ing

Series B (USD 120.9M) USD 157.6M

d
fun ing stage total raise d
3 months
time since last fun ing d
Greenoaks Capital (lead)

Ribbit Capital, Kaszek Ventures, QED

Investors, Tiger Global Management, Tencent
investors in this roun d
Greenoaks Capital (Series B, Series A )

Ribbit Capital (Series B, Series A, Seed )

Kaszek Ventures (Series B, Seed )

QED Investors (Series B, Series A)

investors who participate d in previous rounds
Key data
150K users 1M users
Active users Active users projections

Quinto Andar USD 120M Greenoaks Cap. (lead)

REAL ESTATE • B2C Series E + 1 investor

Unico USD 120M SoftBank (lead )

DEEP TECH • B2B Series c + 2 investors

Omie USD 111.3M SoftBank (lead )

FINTECH • B2B Series C + 7 investors

Kovi USD 100M Valor Capital (lead)

M O I ITY • B2C
B L Series B + 1 investor

Insta Carro USD 22.1M J Ventures (lead)

A UTOTECH • B2C Series B + 4 investors

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02. M &A

80
71

60
60 61 60

40 47

20
19
6 4
3 3 1 1
0

q
Ac uisitions Merges

A CQUISITIONS MERGES

23 0

Buyer Ac quiree

2 2

3
4

3 15
11
2

01. Retailtech (4) 1 intech (3)

0 . F

02. Fintech (2) 02. Traveltech (3)

03. Healthtech (2) 03. Healtchtech (2)

04. Other (11) 0 4. Other (15)

B uyer A cquiree

S o ã P aulo (12) ão Paulo (13)

S

Minas Gerais (2) Rio de Janeiro (3)

Rio de Janeiro (2) Pernambuco (1)

Santa Catarina (1)
Santa Catarina (1)
Minas Gerais (1)

Buyer Ac quiree

1-4 years 1-4 years

4 5
5-10 years 5-10 years

5 9
+10 years +10 years
10 9

Acquisition
Buyer

IT
Locawe b
São Paulo, founded in 1998
Ac quiree
MA RKETING
Octades k
São Paulo, founded in 2014

Amount Percentage
USD 19.6M No Data

Payment Statistics
No Data 16th acquisition

2nd marketing

acquisition

Previous investors
No data

Acquisition
Buyer

Pets
Petz
São Paulo, founded in 2002
Ac quiree
PETS
Zee.Dog

São Paulo, founded in 2010

Amount Percentage
USD 137.3M 100 %
Payment Statistics
No Data 2nd acquisition

2nd pets acquisition

Previous investors
DXA Investments, TreeCorp

Quinto Andar ACQUISITION Atta

REAL ESTATE No data FINTECH

Infracommerce
ACQUISITION Tatix FullCommerce
SALES TECH USD 23.8M RETAILTECH

V TEX ACQUISITION Guava Software

RETAILTECH No data DEEPTECH

Nuvini
A CQUISITION Mercos

MA NAGEMENT No data SALESTECH

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Mexican
startups
01. Investments trends

.
1 5Bi
1.3Bi

1Bi

522M
500Bi

255M

250M 210M

56M 205.5M

26 39 41 39 20 14

NUMBER OF VOLUME IN AVG. ROUND

ROUNDS USD SIZE IN USD

7 137.3M 19.6M

0 0

0 0

4 0

0 0

1 0

1 1

P
ALLV
1st

Retailtech

Fintech

2
4

F oodtech

2 startups raise d
between USD 10 M
3 and USD 50M

< 1M 1M–10M 10M–50M > 50M

Ciudad de México N uevo León

6 1

Flin k

Mer ueo q

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FINTECH • B2 C
Flin k
x
Me ico

F d un ing

Series B (USD 57M) USD 70M

d
fun ing stage total raise d
5 months
time since last fun ing d
Lightspeed Venture Partners (lead)

ALLVP, Clo ktower Te hnology Ventures,

c c

M antis Venture Capital, A el cc

investors in this roun d

ALLV P (S S eries B, eries A)

Clocktower Technology Ventures (S eries B,

Series A )

Accel (Series B, Series A)

investors who participate d in previous rounds x
Key data
.
1 6M USD 0.61
Active users CAC

foodtech • B2B2C
Mar q ueo

x
Me ico

F d un ing

Series C (USD 50M) USD 66M

d
fun ing stage total raise d
17 months
time since last fun ing d
IDC Ventures (lead), DigitalBridge (lead), IDB
Invest (lead). G Innova Group, Celti M M c

House Venture Partners, Palm Drive Capital,

M AGMA Partners"
investors in this roun d
Palm Drive Capital (S C, Series A) eries

investors who participated in previous rounds

Key data
600K
Active users

Yaydoo USD 1.0M Base10 Partners (lead )

FINTECH • B2B SEED + 2 investors

Mendel
-Combinator
FINTECH • B2B
Y

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02. M &A

5
5

3 3

2 2

1 1
0

q
Ac uisitions Merges

A CQUISITIONS MERGES

1 0

Acquisition
Buyer

FINTECH
Konfio

Ciudad de México, founded in 2013

Ac quiree
FINTECH
Sr. Pago
Ciudad de México, founded in 2010

Amount Percentage
No Data No Data

Payment Statistics
No Data 1st a uisition
cq

Previous investors
Barrett Lyon, Center Electric, Defense.Net,
EB Capital, IGNIA Partners, Jay Adelson

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