LatAm ICT financing, investment watch

Brazilian telecom operators invested 26.5bn reais (US$5.11bn) in the first nine months, an increase of 3.7% year-on-year, according to a report by telco association Conexis Brasil Digital.

In Q3, investments amounted to 9.1bn reais, up 8%, Conexis said.

The sector's gross revenue reached 69.5bn reais in Q3, up 6.8% year-on-year. Mobile services (telephony and broadband) accounted for 39% of gross revenue and fixed broadband 28%.  

In January-September, gross revenue hit 205bn reais compared to 196bn in the same period last year. Conexis groups the largest telcos in the country: Telefônica Brasil, Claro, TIM, Oi, Algar and Sercomtel.

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The number of fintechs authorized to operate under Mexico’s fintech law has reached 44, according to banking and securities regulator CNBV.

Of the total, 28 correspond to electronic payment players, which usually operate as digital wallets, and 16 are crowdfunding firms.

This year CNBV issued operating licenses to 22 fintechs. 

There are hundreds of fintechs in Mexico that focus on business segments that are not covered by the fintech law.

The law came into effect in 2019 and Bitso's NVIO Pagos was the only firm that obtained a license in 2020.

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Brazilian fintech Klubi raised 30mn reais in a VC round led by Telefônica Brasil’s corporate venture capital arm, Vivo Ventures, which contributed 10mn reais.

Other participants in the round included existing investors Igah Ventures, as well as individual investors such as the startup’s founder Eduardo Rocha, Paulo Veras (founder of 99) and Guilherme Bonifácio (founder of iFood), among others.

Created in 2021, the fintech plans to use the fresh funds to invest in headcount and technology, as well as expanding its new credit business line.

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Venezuelan delivery startup Yummy plans to increase its investments in the country next year to meet growing demand, CEO Vicente Zavarce told regional outlets at a press conference.

The company did not provide specific investment figures.

Earlier this year Yummy raised US$47mn in a series A round led by Anthos Capital, with participation of Jam Fund, Soma Capital, Wind Ventures (the investment arm of Chilean energy group Copec), Ethos Capital, and YC Continuity.

The round was reportedly the largest-ever VC investment for a Venezuelan startup and came after a US$18mn seed round in October.

Zavarce said Yummy will end the year with around 9mn transactions made through its platform, up 295% from 2021.

In addition to Venezuela, the company is also seeing opportunities in Bolivia, where it recently acquired local platform Yaigo.

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Brazilian banking and payment solutions provider CSU Digital is opening an office in Miami to accelerate its internationalization drive.

CSU recently unveiled investments in technology of more than 130mn reais. 

As part of a recent market repositioning, the company rebranded itself as CSU Digital and restructured its operations into two segments: the payments-focused CSU Pays and customer experience-focused CSU DX.

The company reported net revenues of 136mn reais in Q3, up 4% year-on-year. CSU's customers include Santander Brasil, Edenred, Porto and Banrisul.

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Finnish solutions provider Valmet invested 82mn euros (US$87mn) last year to develop sustainable technological products and services, according to recently released figures for 2021.

The firm offers solutions to the pulp, paper and energy industries and has a large presence in Chile.

Valmet said it is targeting a reduction in greenhouse gas emissions of 80% at its own operations and 20% throughout its supply chain, including Chile.

The group has two centers in Chile. Located in the Biobío region, the first one provides services and technological solutions to different industries. A second operation, recently inaugurated in Antofagasta, will provide services to the Chilean and Peruvian mining industries.