By Jose Pulido
In a whirlwind of news, the startup landscape in Latin America is witnessing significant transformations. Galileo Financial Technology has unveiled a content platform named ‘Más efectivo sin efectivo’ to educate people on the real costs of using physical cash and the benefits of going digital, marking an important step toward digitizing banking in the region.
Meanwhile, Brazilian startup EZvolt has secured a US$ $2 million investment from Vibra Venture. The company focuses on charging solutions for electric vehicles and plans to use the new capital to revolutionize green mobility.
On the financial inclusion front, Mexican fintech Stori acquired MasCaja, a popular financial society. This acquisition will enable Stori to expand its range of financial services, providing more people access to savings and investment products, particularly those who have been rejected by traditional banking institutions.
In environmental news, Heineken Green Challenge has extended its application deadline to September 15 to involve more Mexican startups. The challenge seeks to find innovative solutions for water preservation and address other socio-environmental issues.
Another Mexican startup, 123 Lease, secured a US$ $30 million investment from Emso Private Credit Fund to expand its car leasing services. The company plans to use this funding to grow its light-vehicle fleet in Mexico.
In the realm of circular economy, Dropit, Beloop, and BioProc emerged as winners in the third edition of the Know Hub Ignition programme. Guided by mentors from Know Hub Chile and the University of California Riverside, these startups aim to validate their customer segments and value propositions.
Lastly, Paraguayan platform Reva is nearing completion of its pre-seed funding round. The platform, which facilitates booking for sports complexes and aims to digitize amateur sports, plans to raise US$200,000 for expansion across Latin America, with half of that amount already committed.