INFOGRAPHIC: LATAM's Top Weekly Startup Funding — Week 18, 2025

It was an active week for Latin America’s tech ecosystem, with major investments flowing into retail, fintech, consumer lending, and AI. From corporate spending to e-waste recycling and financial inclusion, startups are attracting capital to scale up and tackle entrenched market inefficiencies.

Leading the pack, Brazil’s Magazine Luiza (Magalu) secured a $130 million investment from the International Finance Corporation (IFC), marking a significant boost for the retailer’s tech infrastructure and e-waste recycling push. The deal combines a $100 million loan from IFC’s account with $30 million from co-investors and is structured around incentives to ramp up e-waste collection fivefold over the next five years. Magalu, which operates over 1,250 stores and multiple online brands, plans to strengthen its marketplace while supporting micro and small businesses and increasing women’s participation in its tech teams.

Fintech Clara followed with an $80 million round as it eyes profitability across Brazil, Mexico, and Colombia. The raise includes $40 million in equity from Citi Ventures and Kaszek Ventures, and $40 million in growth capital from General Catalyst. Launched in 2021, Clara offers corporate clients tools to automate expenses, invoices, and cross-border payments. Having already hit breakeven in Brazil, the company plans to scale its salesforce and engineer team to accelerate market penetration and build on its AI-driven finance solutions.

Argentina’s Credicuotas, a specialist in consumer lending and part of the BIND Group, raised $33 million through its Series XII negotiable bond—the largest in its history. The bond, rated A1(arg), saw strong demand, compressing yields and reinforcing market confidence as Credicuotas looks to capitalise on rising demand in the credit market amid improving macroeconomic conditions.

Mexico-based Vexi, which focuses on credit access for underserved populations, secured a $15.3 million structured credit line from Banco Covalto. The fintech will use the funding to expand lending capacity and grow its user base by over 40% within a year. Vexi also plans to introduce new financial products and further integrate educational tools into its platform, helping users build credit histories and improve financial health.

Rounding out the week, Uruguayan AI assistant Zapia raised a $7.25 million seed extension led by Prosus Ventures, bringing its total seed funding to $12.25 million. Built by BrainLogic, Zapia offers an AI-powered WhatsApp assistant that helps users manage tasks, shop online, and access services. With 3.5 million users across Latin America and growing traction in mobile apps, the company is poised to scale its platform and deepen its lifestyle e-commerce capabilities.

These investments highlight strong momentum in Latin America’s startup scene, where companies are blending tech innovation with social impact to drive growth in retail, finance, and AI-driven consumer services.