Brazilian fintech QI Tech raises $200M in Series B round, and other top funding stories in LatAm

Brazilian fintech QI Tech raised $200 million in a Series B round led by General Atlantic with the participation of Across Capital to grow and explore strategic M&A deals.

Founded in 2018, QI Tech simplifies the loan process and decentralizes credit access from major banks. Its range of APIs allows businesses to offer financial products to their customers. The fintech, holding a top-tier Fitch rating of A+, also has a brokerage license for managing investment funds in credit rights (FIDC).

This funding comes after a profitable Series A round of $50 million in November 2021. To date, the São Paulo-based startup has raised a total venture capital of $262 million since its inception.

Here are other funding activities in the Latin America region:

Finkargo raises $20M in a Series A round

Finkargo, a  Mexico-based international trade financing platform for small and medium-sized businesses (SMBs), secured $20 million in a Series A round led by QED investors, with participation from Nazca Quona Capital, Flybridge, ONEVC, and Maya.

Verqor raises $7.5M to digitalize Mexico’s agricultural sector

Verqor, a fintech startup dedicated to digitalizing Mexico's agricultural sector by providing cashless credits to farmers, raised $7.5 million. Yara Growth Ventures led the funding round and also featured participation from Accion Venture Lab, SP Ventures, and Glocal Ventures. The funds will support Verqor's expansion within Mexico.

Axify secures $13M in funding

Axify, a digital wallet offering a buy-now-pay-later service, secured $13 million in funding. The round was backed by Alpha Impact 8 and Avalancha Ventures, enabling Axify to scale its services in Mexico.

Brazilian startup VAAS raised a $2M pre-seed round

Brazilian startup VAAS (Virtual Asset Analytics & Security), which specializes in monitoring pix & crypto transactions, secured $2M in a pre-seed round. ABSeed Ventures led the investment, with participation from Fuse Capital and Honey Island by 4UM. VAAS aims to enhance regulatory technology in Brazil.

Endeavor raises a $15M fund for Brazilian startups

Endeavor, an organization supporting high-impact entrepreneurs in Brazil, exceeded its initial $12 million target by raising $15 million for its Scale-Up Ventures II fund. This fund is designed to bolster the growth of select companies within Endeavor's portfolio.

Fracttal raises $10M in a Series B round led by Kayyak Ventures

Chilean startup Fracttal, known for its AI-powered, cloud-based asset management solutions, secured $10 million in a Series B funding round. The round was led by Kayyak Ventures, with support from GoHub Ventures and Amador Holdings.

Vopero raises $4M round led by Cencosud Ventures

Vopero a second-hand fashion marketplace based in Uruguay, raised $4 million in funding to support its expansion into Chile. Cencosud Ventures, a Chilean venture capital firm, led the round.

Enerlink raises $3.6M from Kayyak Ventures

Enerlink, a startup specializing in energy management solutions for organizations, secured $3.6 million in funding with Kayyak Ventures as the primary investor. The investment will support Enerlink’s expansion into Mexico and strengthen its presence in Peru and Colombia.

Follow our full coverage of the Latin American startup and technology scene and get up to date with what's happening in the key markets within the region.