Mexico , Colombia , Brazil and Argentina

LatAm ICT investment, financing watch

Bnamericas Published: Friday, November 18, 2022
LatAm ICT investment, financing watch

After a series of investments in Latin America, Argentine software unicorn Globant plans to shift its investment focus.

“We will have a more targeted and aggressive focus on expanding in Asia Pacific and Middle East. We have created a new regional leadership specifically focused on this market who has already been serving our customers there,” CEO Martín Migoya told investors in an earnings call on Friday.

Globant also announced the acquisition of Australian e-commerce consultancy eWave iWeb to “support the company's expansion in the Asia Pacific” region, he added.

In Q3, Globant – considered Argentina's biggest-value company after MercadoLibre and Tenaris – posted US$459mn in revenue, up 34.2% year-over-year. 


Software group Softplan, with operations in Brazil and Colombia, said it acquired Brazilian-based startups Justto and eCustos for undisclosed sums.

Last month, Softplan raised 130mn reais (US$24.2mn) in debentures (infra bonds), which said it would use to fund new acquisitions. Softplan bought six companies in the last three years, with an investment of over 200mn reais.

Justto is a legaltech, a startup focused on compliance issues and legal solutions. Since its creation in 2012, the company has negotiated around 1.2bn reais through its conflict mediation platform, Softplan said.

eCustos is focused on preparing budgets for the civil construction industry. The construtech has provided services to more than 700 clients and works with a community of around 50,000 cost engineers.

Softplan reports more than 2,500 employees and 11,000 customers in Brazil, as well as in Colombia. In 2021, its revenues amounted to 428mn reais and the forecast for 2022 is to reach 582mn in sales. For 2023, the company is targeting 700mn reais in revenues. New M&As are expected.


Brazilian logistics operator Grupo Rodonaves invested 244mn reais since 2021 in innovation and technology to improve efficiency, reduce costs and drive new services, the company said in a statement.

Headquartered in Ribeirão Preto, São Paulo state, the group reports more than 300,000 customers and 9,000 employees through six companies: RTE Rodonaves, Rodonaves IVECO, Rodonaves Corretora de Seguros, Rodonaves Leasing Vehicles, Rodonaves Restauradora Multimarcas and RTE agro.


Asset management Vinci Partners bought a stake in Arklok, a hardware-as-a-service firm with full-outsourcing solution in Brazil.

Details for the transaction were not disclosed, but it marks the first investment of Vinci’s Private Equity vehicle, VCP IV, which held its first closing in June 2022.

Founded in 2008, Arklok provides IT equipment along with outsourcing and specialized technical support, said Vinci.

Gabriel Felzenszwalb, partner and co-head of Private Equity of Vinci Partners, said to expect new deals in 2023. 


Colombian fintech Finkargo raised US$75mn in structured credit to support its expansions, Bloomberg Línea reported.

The financing was provided by social impact investment fund Community Investment Management (CIM).

In April, Finkargo raised US$7.5mn in a seed round to grow in Latin America, targeting initially Mexico.

Subscribe to the most trusted business intelligence platform in Latin America. Let us show you our solutions for Suppliers, Contractors, Operators, Government, Legal, Financial and Insurance.

Subscribe to Latin America’s most trusted business intelligence platform.