Aug 21, 2024

. www.dealflow.la Other Dealflow.la #73 - Elon Musk 🇺🇸 attacking Brazilian Supreme Court 🇧🇷, Petro 🇨🇴 to open Embassy in Palestine 🇵🇸, & Nu Colombia 🇨🇴 raised a $150 Million Debt Financing. Latin America is rising. Subscribe to Dealflow.la to keep up. Funding Pulpos 🇲🇽 raised a $4 Million Seed round with funding from Newtopia VC 🇦🇷, Latitud 🇧🇷, H20 Capital 🇺🇸, and Andreessen Horowitz 🇺🇸 to build a cloud operating system platform intended to provide cutting-edge technology and financial services for independent retailers to thrive. The company's platform offers user-friendly point-of-sale services and helps in organized inventory management, enabling users to create their online catalog and increase sales. Fintoc 🇨🇱 raised a $7 Million Series A round with funding from Propel 🇺🇸 and Monashees 🇧🇷 to build an application programming interface designed to integrate with financial institutions. The company's interface allows users to receive payments and make recurring charges from any account. offers tool integration that includes tools for consumer payments, personal finance, KYC, and granting credit, enabling banks to easily connect their customers with a bank account. Zig 🇧🇷 raised a $22.5 Million Series B round with funding from Across Capital 🇺🇸, Endeavor Catalyst 🇺🇸, and Cloud9 Capital 🇧🇷 to build a digital payment platform designed to facilitate payments for events and nightclubs. The company's platform uses the pay-per-use payment system for secure and fast payment services, enabling customers to get a cashless and secured portal to make payments. Hurb 🇧🇷 raised a $26 Million Corporate Round with funding from DST Global 🇬🇧 to build an online travel platform intended to find and reserve accommodations and activities. The company's platform allows users to book hotels, and tour packages and share their experiences with other users, enabling travelers to get compact tour packages at reasonable rates. Habi 🇨🇴 raised a $30 Million Debt Financing round with funding from Victory Park Capital 🇺🇸 and International Finance Corporation 🇺🇸 to build a a technology-driven real estate platform intended to simplify the process of buying and selling residential properties for middle-class consumers. The company's platform reduces sales time, mitigates the risks facing sellers in traditional transactions, and eliminates the need for intermediaries by combining advanced analytical tools with human insight, enabling clients to buy, sell and improve homes quickly and also giving them access to the necessary information. Aplazo 🇲🇽 raised a $70 Million Series B round with funding from QED Investors 🇺🇸, Volpe Capital 🇧🇷, Picus Capital 🇩🇪, Oak HC/FT 🇺🇸, and Kaszek 🇧🇷 to build a fintech platform intended to unlock financial access, freedom, and opportunity for every Mexican. The company's platform allows users to pay for their purchases online on an installment basis at the affiliated stores, users need to apply online through the website and select delay as a payment method that allows them to pay for their products in a fixed installment payment plan, enabling businesses to increase the customer base by accessing delay marketing channels. Nu Colombia 🇨🇴 raised a $150 Million Debt Financing round with funding from U.S. International Development Finance Corp 🇺🇸 to increase access to digital financial services in the country. With this loan, Nu will continue working to reach more Colombians and expand its portfolio of products and services. This $150 Million loan reinforces Nu's long-term commitment in Colombia, including $1.3 trillion pesos in capital investments made since 2021. Sociopolitical News 🇦🇷 Argentina Argentina's central bank cut its benchmark interest rate to 40% from 50% as the annual inflation rate slightly decreased, cresting just shy of 300% despite continued economic challenges under President Javier Milei's austerity measures. ( Reuters ) Argentina's monthly inflation slowed for the fourth consecutive month in April, reaching 8.8% month-over-month, while annual inflation rose to 289.4%. Utilities, communication, and clothing led price increases. ( Bloomberg ) President Javier Milei outlined plans to dollarize Argentina’s economy by paying down the central bank’s liabilities and allowing free currency competition. The peso and US dollar will both become legal tender, with the peso on a flexible exchange rate. ( Bloomberg ) Argentina's economic activity dropped 8.4% in March year-on-year, the steepest decline since 2020, driven by President Javier Milei's austerity measures. Construction and manufacturing sectors experienced significant declines. ( Reuters ) 🇧🇷 Brazil Brazil's government is combating severe flooding in Rio Grande do Sul state and widespread disinformation hindering aid efforts. False social media posts undermine trust in authorities, complicating rescue and relief operations. ( AP ) As Brazil faces devastating floods in Rio Grande do Sul, disinformation campaigns targeting President Lula's government hinder aid efforts and spread falsehoods, creating mistrust and complicating recovery. ( Al Jazeera ) Brazil’s Supreme Court overturned “Car Wash” corruption convictions for José Dirceu and Marcelo Odebrecht, citing expired limitations and improper legal procedures, signaling a significant setback for the anti-corruption investigation. ( FT ) Elon Musk and U.S. House Republicans have reinvigorated former Brazilian President Jair Bolsonaro’s political movement by attacking Supreme Court Justice Alexandre de Moraes for censoring right-wing social media accounts. This shift in focus has sparked intense debate in Brazil about free speech and democracy, overshadowing Bolsonaro’s legal challenges and influencing national discourse. ( New York Times ) Brazil's Petrobras CEO Jean Paul Prates stepped down, and former regulator Magda Chambriard will replace him. This change aligns with President Lula's push for lower fuel prices, increased capital spending, and smaller dividends. ( Reuters ) 🇨🇱 Chile Chile declared three days of national mourning after three police officers were killed in an ambush in Arauco province. The attack has revived security concerns amid ongoing tensions with the Mapuche Indigenous community. ( Al Jazeera ) Chile seeks to strengthen security laws and create a new Security Ministry after the murder of three police officers. The government imposed a curfew and deployed the military in response. ( Bloomberg ) Chile's economy grew 1.9% in Q1 2024, the fastest since 2021, driven by increased consumption and mining output. The government raised its 2024 growth forecast to 2.7%, supported by rising copper prices. ( Bloomberg ) 🇨🇴 Colombia Colombian President Gustavo Petro has ordered the opening of an embassy in Ramallah, the West Bank, following the recall of Colombia's ambassador from Tel Aviv and the closure of the embassy there on May 3. ( Al Jazeera ) Colombian President Gustavo Petro announced the country will break diplomatic ties with Israel over its Gaza campaign, despite Colombia's military reliance on Israeli-built equipment like Kfir fighter jets and Galil rifles, raising concerns about future maintenance and contracts. ( AP ) Colombian President Gustavo Petro announced the military's loss of millions of bullets, grenades, and missiles due to internal corruption, blaming personnel for selling arms to traders. Investigations are ongoing. ( BBC ) 🇨🇷 Costa Rica Costa Rica announced electricity rationing due to its worst drought in five decades, impacting hydroelectric power. The state-run ICE blames El Niño and supply delays, urging residents to reduce consumption. ( Reuters ) 🇩🇴 Dominican Republic Amid Haiti's crisis, the Dominican Republic's election focuses on migrant crackdowns and border wall construction. President Abinader, seeking reelection, pledges stricter immigration measures, affecting many Haitians living in the Dominican Republic. ( AP ) 🇪🇨 Ecuador Ecuadorian President Daniel Noboa declared a 60-day state of emergency in five coastal provinces to combat internal armed conflict and organized crime, deploying police and military forces due to rising violence. ( Reuters ) Ecuador sued Mexico at the International Court of Justice over Mexico granting asylum to former Ecuadorian Vice President Jorge Glas. This follows Ecuador's storming of Mexico's embassy to arrest Glas, sparking diplomatic tensions. ( Al Jazeera ) 🇸🇻 El Salvador El Salvador's Congress, controlled by President Nayib Bukele's party, approved changes to facilitate constitutional reforms without waiting for new legislature elections. Critics argue this move consolidates Bukele's power and threatens democracy. ( AP ) 🇬🇹 Guatemala Guatemalan prosecutors raided Save the Children’s offices, alleging involvement in child trafficking. The aid group denies misconduct, expressing shock and confusion. The raid follows accusations of corruption against the prosecutors themselves. ( AP ) 🇭🇳 Honduras A U.S. judge denied former Honduras President Juan Orlando Hernandez a new trial for drug and firearms offenses. Hernandez's arguments about trial location and tainted testimony were rejected. He faces 40 years in prison. ( Reuters/US News ) 🇲🇽 Mexico Mexico is stopping nearly three times as many migrants at its southern border compared to last year, helping reduce U.S. border crossings. This cooperation reflects improved U.S.-Mexico relations under Biden. ( NBC ) Tens of thousands protested in Mexico City against President Andres Manuel Lopez Obrador, accusing him of dividing the country. Th supporting opposition candidate Xochitl Galvez ahead of the June 2 presidential election. ( VOA ) A stage collapse at a Citizens' Movement campaign rally in San Pedro Garza Garcia, Mexico, killed nine people and injured dozens due to high winds. Governor Garcia urged residents to stay indoors amid severe weather. ( Reuters ) Mexican President Andres Manuel Lopez Obrador claimed that violent criminal gangs and drug cartels are “respectful” and mainly kill each other. Critics argue this overlooks the cartels' widespread extortion and violence against civilians. ( AP ) Claudia Sheinbaum, Mexico’s presidential frontrunner, navigates following popular outgoing President Lopez Obrador while establishing her own image. She balances loyalty to his programs with her distinct vision, amidst a polarized political climate. ( AP ) 🇺🇸 Miami Miami leaders were outraged after the Biden administration allowed Cuban officials a five-hour tour of TSA facilities at Miami International Airport on Cuban Independence Day, raising significant security and political concerns. ( Axios ) 🇳🇮 Nicaragua Nicaraguan police confirmed they are monitoring Humberto Ortega, President Daniel Ortega's brother, after media reports of police surrounding his home. Humberto criticized his brother's authoritarian administration in a recent interview. ( AP ) Nicaragua has canceled the decade-old Chinese plan to build a controversial canal linking the Atlantic and Pacific, citing environmental risks and displacement concerns. The project faced strong opposition and never commenced. ( The Guardian ) 🇵🇦 Panama José Raúl Mulino, a last-minute stand-in candidate for Panama's presidential election, promises a return to better economic times, benefiting from former President Ricardo Martinelli's support despite Martinelli's ineligibility due to a money laundering conviction. ( AP ) 🇵🇾 Paraguay Paraguay is advancing plans for a $1.5 billion gas pipeline connecting Argentina, Paraguay, and Brazil, competing with a Bolivian bid. This pipeline aims to transport gas from Argentina's Vaca Muerta shale region. ( Reuters ) 🇵🇪 Peru Peru's Health Ministry classified transgender identities as "mental health problems," sparking protests in Lima. Critics argue this contradicts the World Health Organization's guidance and stigmatizes transgender people. ( NBC ) 🇻🇪 Venezuela Texas billionaire Rod Lewis's company, LNG Energy Group, signed a deal with Venezuela's state-owned PDVSA to rehabilitate oil fields, amid U.S. sanctions and political instability regarding Venezuela's upcoming presidential election. ( AP ) Argentina is pressuring Venezuela to allow six opposition aides, seeking refuge in Argentina's Caracas embassy, safe passage out, amid concerns over their safety and Venezuela's political repression. ( Reuters ) Venezuela hires Rothschild & Co. to begin restructuring $154 billion in debt, signaling intent to re-enter global financial markets. This complex process involves resolving defaulted bonds, loans, and legal judgments. ( Bloomberg ) Thank you for reading  Semilla.VC ’s  Dealflow.la  Newsletter. Subscribe to the  Semilla.VC  Podcast on  YouTube . If you were forwarded this email and enjoyed it, make sure to subscribe at Dealflow.la :)