INFOGRAPHIC: LatAm's Top Weekly Startup Funding — Week 13, 2025
In this week's funding deals, we tracked Ualá, Mendel, Uncover, Sustineri Piscis and MT Bank in the LatAm region.
Latin America's startup ecosystem saw a surge in funding this week, with significant investments flowing into fintech, business expense management, media analytics, and biotech. These capital injections reflect the region’s growing reputation as a hub for technological advancement and economic development.
Leading the week was Ualá, an Argentine fintech that raised an additional $66 million in the expansion of its Series E round, bringing the total to $366 million. The round included participation from Televisa Univision, the world's largest Spanish-language media conglomerate, strengthening Ualá’s strategic position in Mexico. With this funding, Ualá plans to expand its financial ecosystem, accelerate growth in Mexico, Argentina, and Colombia, and explore opportunities in the insurtech sector alongside Allianz.
Mendel, a leading business expense management platform in Latin America, secured $35 million in its Series B round, led by Base10 Partners with participation from PayPal Ventures and other investors. The company, which serves major enterprises like Mercado Libre, FEMSA, and McDonald’s, will use the funding to enhance its artificial intelligence capabilities, expand its Mendel Travel module, and grow its operations in Chile, Colombia, and Peru, with Brazil targeted for 2026.
Brazilian media analytics company Uncover raised $2.18 million in the extension of its seed round, bringing its total funding to $3.93 million since its founding in 2021. Led by ABSeed, the investment will support revenue expansion, product development, and a stronger presence in the middle market. Uncover, which integrates more than 600 data sources and manages $5.22 billion in media budgets, is also looking to consolidate its international presence in the United States and Colombia.
Sustineri Piscis, a Brazilian biotech startup specializing in lab-grown fish meat, secured $1.63 million from EqSeed. The funding will be used to scale production, with plans to install a 100-liter bioreactor by 2026 and expand its laboratory at Inmetro's Technological Campus in Xerém. The company is also working towards regulatory approval from Anvisa and the Ministry of Agriculture to bring its cultivated fish meat to market through a partnership with Frescatto.
Finally, MT Bank, a Brazilian fintech focused on small and medium-sized retailers, received an $870,000 investment from Hiker Ventures, a fund from AF Invest. The capital will be used to develop an integrated financial management solution that combines payments, tax management, and financial services, aiming to simplify operations for entrepreneurs. MT Bank expects to reach 20,000 customers and process $1.04 billion in annual transactions by 2026.
From fintech to biotech, this week's funding rounds demonstrate the diversity and dynamism of Latin America’s startup landscape. As investors continue to bet on the region’s potential, these startups are poised to drive meaningful change across various industries.
