LATEST REGIONAL PROJECT UPDATE
1 PERU
2
NICARAGUA
Popular iGaming content provider BGaming has secured a highly sought-after licence in Peru – marking a significant milestone in its expansion across LATAM .
BGaming ’ s technical system of gaming software and its engaging portfolio have been officially approved by the gambling regulator Mincetur , a national administrative authority which implements and oversees all aspects of online gaming and sports betting in Peru .
By receiving the B2B certification , BGaming broadens its appeal with local licenced operators in the newly regulated market .
The licence also opens up more opportunities for BGaming to expand its business and strengthen its position in the wider LATAM region – where it has enjoyed significant attention in the last 12 months .
Marina Ostrovtsova , CEO , BGaming , said : “ Securing the Peru licence marks a pivotal moment in BGaming ’ s global expansion . This certification not only strengthens our presence in Latin America but also underscores our commitment to bringing high-quality , immersive gaming experiences to new audiences .
Tumoni , the Nicaraguan fintech , has raised $ 2.3m in a pre-seed round led by Slauson & Co and Counterview Capital .
Seedstars International Ventures , NuMundo Ventures , Caricaco , Hatcher , Plug and Play and angel investor Uttam Nayak also participated in the round .
Tumoni provides a digital banking platform for US migrants and their families , offering free money transfers through a closedloop system .
Tumoni aims to lower remittance costs and improve banking access in Central America – the least banked region in the Americas .
“ Most remittance companies take advantage of the fact that people are unbanked . This is a market inefficiency that needs to be solved , not exploited ,” said Paolo Delaunay , CEO and Cofounder , Tumoni .
Tumoni will use the funding to launch its platform in the US and Nicaragua with plans to expand into Guatemala – aiming for at least 50,000 active users by the end of 2025 .
“ We are excited about the opportunities this will unlock , both in terms of growth and the reception of our slots in this new market .”
4
ARGENTINA
3
BRAZIL
Argentinian fintech unicorn Ualá raised a $ 300m Series E round led by Allianz X , the investment arm of Allianz , in what was Allianz X ’ s first investment in Latin America .
Brazilian credit fintech for farmers , Agrolend , secured $ 53m in a Series C round led by Creation Investments and Syngenta Group Ventures .
Vivo Ventures , L4 , Norinchukin Bank , Valor Capital , Lightrock , Yara Growth Ventures , Provence Capital , SP Ventures , Barn and others also participated in the round .
This latest funding round brings Agrolend ’ s total capital to $ 100m following its Series B funding which closed at the end of 2022 .
Stone Ridge Holdings Group , Tencent , Pershing Square Foundation , Ribbit Capital , Alan Howard , Goldman Sachs Asset Management , Soros Fund Management , Rodina , SoftBank Latin America Fund , Jefferies , D1 Capital Partners , Claure Group , AlleyCorp and Monashees also participated in the round – the largest funding raised by a Latin American startup in the past three years .
Ualá will use the funds to grow in Mexico , Argentina and Colombia , enhance its existing products and explore new opportunities such as insurance .
With the funding , Agrolend will expand its credit offerings to small and medium-sized farmers , in partnership with resellers , cooperatives and agricultural input and equipment industries .
Founded less than four years ago , Agrolend operates in over 15 states in Brazil , supporting farmers growing crops like soybeans , corn , sugarcane coffee , or raising livestock . The fintech aims to expand its credit portfolio to $ 600M and serve 10,000 small and medium-sized farmers across Brazil .
“ The trust and support of our investors reaffirms our vision : we will soon become the largest bank in Argentina and we aim to lead in Mexico and Colombia as well ,” said Pierpaolo Barbieri , Founder and CEO , Ualá .
Ualá is a neobank founded in 2017 that reached unicorn status in 2021 after raising a $ 350m . Ualá has a client base of over 8m customers – 2.7m of which have used the platform to make investments – and granted over 7m loans .
26 INTELLIGENTCIO LATAM www . intelligentcio . com