INFOGRAPHIC: LatAm's Top Weekly Startup Funding — Week 11

• Nextron Raises $5.2M in Series A Round
• Grupago Secures $4.3M Seed Funding for SMB Credit in LatAm
• Salvadoran Insurtech Sostengo Raises $3.8M Seed Funding
• Foccuz Raises $700K for Sales Copilot
• Proffer Raises $600K to Expand Pharmaceutical Pricing Solutions

Nextron Raises $5.2M in Series A Round

• Brazilian climate tech firm Nextron has secured $5.2 million (R$ 26 million) in a Series A funding round led by Vox Capital and Copel Ventures, with participation from Endeavor Scale-up Ventures, Valor Capital Group, and Barn Investimentos.
• Nextron operates as an energy-as-a-service platform, connecting customers with renewable energy providers via a subscription model. With a team of 40 serving over 5,000 customers and operations in 12 states, Nextron aims to democratize access to clean energy in Brazil, says Co-Founder and CEO Ivo Pitanguy.
• The funds will fuel expansion across Brazil, hiring initiatives, and customer acquisition efforts.

Grupago Secures $4.3M Seed Funding for SMB Credit in LatAm

• Grupago, a Mexican fintech startup addressing the financing gap for small businesses in Latin America, has raised $4.3 million in seed funding. Deciens Capital led the round, with participation from Precursor Ventures, Clocktower Ventures, Twine Ventures, and notable individuals like Zac Bookman, Oso Trava, Pepe Shabot, and Paul Sawaya.
• Grupago utilizes AI for credit assessments, group collateral for loan security, and a community-based distribution model to reach rural and underrepresented segments effectively.
• With this fresh capital, Grupago aims to democratize financial services to underrepresented segments in Latin America, challenging traditional credit systems and fostering economic growth within the micro-SMB community.

Salvadoran Insurtech Sostengo Raises $3.8M Seed Funding, Eyes US Expansion

• Sostengo, a leading Insurtech startup in Central America, has closed a $3.8 million seed financing round. Additionally, the company secured an extra $1 million for expansion into the US market.
• Founded in El Salvador in 2021, Sostengo offers a fully digital end-to-end car insurance solution accessible via a mobile app, catering to the uninsured segment in Central America. Through its platform, users can quote, customize, purchase insurance, report incidents, receive assistance from human agents in emergencies, and complete the payment process — all within minutes.
• With the new funding, Sostengo plans to further grow its user base and expand its reach into the US Hispanic market. Participants in the round included venture capital firm PeopleFund, signalling confidence in Sostengo's vision and strategy.

Foccuz Raises $700K for Sales Copilot, Eyes Latin American Expansion

• Foccuz, a SaaS platform founded by Uruguayan and Chilean entrepreneurs, has secured $700,000 in funding for its "Sales Copilot" solution.
• Foccuz targets B2B software companies with sales teams of eight to 40, to enhance sales team efficiency by offering modules for commission calculations, gamification, KPI improvement, and analytics. With plans to launch in April and acquire 50 clients by late 2023, Foccuz is gearing up for broader market penetration and a future funding round focused on the Mexican market.
• The investment was led by Carabela, InVariantes, KuiperVc, MGV Capital, and strategic investors. Despite not yet being on the market, the startup has garnered interest from 15 clients across Colombia, Mexico, and Chile through investor networks.

Proffer Raises $600K to Expand Pharmaceutical Pricing Solutions

• Proffer, a Brazilian SaaS platform specializing in pharmaceutical pricing models, has secured $600,000 in a seed round led by Criatec 4. This round follows Proffer's pre-seed funding from WOW Aceleradora and FCJ Venture Builder in 2021.
• The funding will fuel Proffer's expansion in the retail and distribution sectors and support the development of pricing solutions for additional market segments.
• Founded in 2021 by Edmilson Varejão and Vinicius Pantoja of AI Consult, Proffer offers a smart pricing system for the pharmaceutical sector, optimizing profits and streamlining management processes. Partnering with Farma Ventures, Proffer has initiated pilot projects with Drogal and Indiana and currently serves 50 customers across more than 1,500 pharmacies in Brazil.

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