INFOGRAPHIC: LatAm's Top Weekly Startup Funding — Week 18

• Brazilian Fintech QI Tech Secures $50M to Double Down on its Expansion Efforts
• Chilean Paytech Fintoc Raises $7M to Consolidate its Presence in Chile and Mexico
• Reuse Secures $4.5M to Expand its Refurbished Electronics Business
• Agtech Smartbreeder Raises $3M to Consolidate Leadership in the Sugar-Ethanol Industry
• Brazilian Edtech Yuna Raises $1.6M for Technology Development and Brand Consolidation

Brazilian Fintech QI Tech Secures $50M to Double Down on its Expansion Efforts

• Brazilian fintech QI Tech has secured $50 million in a Series B extension from General Atlantic, bringing its valuation over the $1 billion threshold. The investment comes five months after its $200 million Series B in November 2023.
• Founded in 2018, QI Tech is a robust financial infrastructure platform that offers a range of services, including financial, credit, banking, and anti-fraud solutions, aimed at decentralizing these services away from major banks.
• With the new funding, QI Tech will focus on its expansion efforts by reinforcing its M&A strategy and entering new business lines such as foreign exchange and insurance.

Chilean Paytech Fintoc Raises $7M to Consolidate its Presence in Chile and Mexico

• Chilean instant payments API startup Fintoc has raised $7 million in a Series A round led by Propel. Other participating investors include Monashees, who previously led Fintoc’s $3 million Seed round in June 2021.
• Founded in March 2020 by Cristóbal Griffero and Lukas Zorich, Fintoc is an API that lets online businesses accept instant payments from customers' bank accounts, cutting out middlemen like credit card processors.
• Fintoc will use the funds to consolidate its presence in Chile and Mexico, focusing on making Mexico its primary revenue source by tapping into 50% of the country’s population that is currently not paying online.

Reuse Secures $4.5M to Expand its Refurbished Electronics Business

• Chilean startup Reuse has secured $4.5 million in a funding round led by Seaya Cathay Latam. Other participating investors include the founders of Cornershop, European Fund, Dalus, Ignia, Silence VC, Compusoluciones Ventures, and Angel Hub.
• Founded in 2018 by José Tomás Ulloa and Max Sateler, Reuse began as a university project and has grown to become an online marketplace for buying and selling refurbished electronics in Latin America.
• Reuse will invest a significant portion of the funds into hiring and expanding its team in a bid to double last year's revenue of $15 million.

Agtech Smartbreeder Raises $3M to Consolidate Leadership in the Sugar-Ethanol Industry

• Brazilian agtech Smartbreeder has raised $3 million in an investment round by the EcoEnterprises Fund. The round comes six years after its $1.5 million Series A in March 2018.
• Founded in 2009, Smartbreeder is a digital agronomic intelligence company that uses big data and artificial intelligence to help companies improve their agricultural processes and become more sustainable, increasing yields and efficiency across different crops and agricultural sectors.
• Smartbreeder will use the funds to strengthen its position in the sugar-ethanol industry, expand into other agricultural sectors like grains and fibers, and invest in internationalization and knowledge transfer programs.

Brazilian Edtech Yuna Raises $1.6M for Technology Development and Brand Consolidation

• Brazilian AI-powered edtech Yuna has raised $1.6 million in a pre-seed round led by Canary. Other participating investors include Positive Ventures and senior executives from large companies.
• Founded in 2023, Yuna leverages artificial intelligence to create interactive and personalized children’s books, promoting reading habits during formative years. Yuna's app has also impacted over 40,000 families and has a 5-star rating in the App Store with over 100 reviews.
• With the new funding, Yuna will further develop its technology, grow its team, and consolidate its brand.

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