LATEST REGIONAL PROJECT UPDATE
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1
PERU
Peruvian foodtech Nutri Co has raised $ 2 million from Uruguayan bioactives producer Terraflos .
CEO and co-founder Carlos Noceda said : “ The main objective of our alliance with Terraflos is to create disruptive products using the active ingredients of plants , without compromising on price .”
2
BRAZIL
Brazilian neobank Nomad has acquired Melhor Câmbio , a virtual marketplace for currency exchange for tourists , for around $ 550K .
The platform has around 1 million unique monthly users and transacts around R $ 1 million in currency purchases every day .
Nutri ’ s approach to Terraflos began during its last investment round of US $ 1 million , which the foodtech company used to strengthen its recipe formulation tool with artificial intelligence , Virgilio IA .
Founded in 2020 , Nomad focuses on foreign currency accounts . After securing a $ 61m investment round led by Tiger Global in 2023 , Nomad ’ s valuation reached approximately $ 315m .
“ When we opened our new round at the beginning of this year , Terraflos proposed taking it over in its entirety and strengthening the bond between the two companies ,” said Noceda .
This acquisition integrates Melhor Câmbio ’ s service and 1.7m active users into Nomad ’ s offerings .
3
MEXICO
Lok , a Mexican startup specializing in smart locker delivery networks , has merged with Chazki , the Peruvian startup specializing in transportation and delivery services for e-commerce and retail .
4
CHILE
Chilean fintech Relif has received an investment of US $ 400,000 of which US $ 120,000 is from ChileGlobal Angels – a group of members of Fundación Chile ’ s network of angel investors . With the funding , Relif aims to consolidate its presence in Chile and enhance its product .
The merger aims to consolidate Chazki ’ s position as a logistics service in Latin America and expand its presence in Mexico – with plans to triple its market share in the next two years .
By integrating Lok ’ s out-of-home ( OOH ) infrastructure and network , customers can receive and return packages at smart lockers nearby . This alliance also reduces shipping costs and carbon emissions from last-mile delivery .
Relief is a financial health platform that partners with businesses to improve workers ’ borrowing conditions using Open Data and AI . Relief ’ s revenue comes from corporate subscriptions and financial institution fees .
“ We have found some very interesting growth opportunities that were going to require capital to take advantage of them ,” said Benjamín Bustos , CEO , Relif .
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