INFOGRAPHIC: Top LATAM Startup Funding - Week 36
These are the funding deals we tracked in the LatAm region this week including Comun, Bia Energy, Mercately, Puntored and Cellva Ingredients
- The Latino-founded fintech company, Comun, has secured $21.5 million in a Series A funding round to fuel its growth and expansion.
- Bia Energy, a Colombian B2B digital energy solutions provider, has secured a $10 million credit line to fuel its growth and expansion.
- Mercately, an Ecuadorian CRM startup, has raised $2.6 million in a pre-seed funding round to accelerate its development and market penetration.
- Puntored, a Colombian fintech company, has received $2 million in funding from the Stellar Development Foundation to support its innovative financial solutions.
- Cellva Ingredients, a Brazilian biotech startup specializing in cultivated animal ingredients, has secured $1.5 million in funding to advance its research and development efforts.
Fintech Company, Comun, Secures $21.5M in Series A Funding to Expand Operations
Latino-owned fintech, Comun has secured $21.5 million in Series A funding led by Redpoint Funding. This round also included ANIMO Ventures, Costanoa Ventures, and FJ Labs among other major participants.
The new round follows a $4.5m funding round in December 2023.
Founded by Abiel Gutierrez and Andres Santos in 2021, the Mexican neobank provides financial services for displaced immigrants in the U.S. The company, based in San Francisco, California, was formed after both founders experienced trouble with financial institutions as foreigners. Because of this, they decided to create financial solutions for other immigrants in such situations.
Now, Comun offers a range of tailored financial services to serve Latino immigrants in the U.S. It provides modern banking solutions that include everything from remittance services to comprehensive deposit options. It also offers typical banking services, like creating and managing checking and savings accounts, paying utility bills and rent, and credit building.
The company claims its active customer base continues to increase at a mean rate of 52% sequentially and has surpassed $1 billion in Annualized Transaction Volume.
The newly acquired funding will be channeled towards expanding remittance services, accelerating growth, and enhancing fraud detection.
