"Don't be intimidated by what you don't know. That can be your greatest strength and ensure that you do things differently from everyone else.” - Sara Blakely
September 21, End Of Day
Presto: Aiming to redefine the credit landscape in Bolivia, Presto has made significant developments with 400 users in just three months and a waitlist of 10,000. Their unique position as the only non-regulated fintech with a VISA partnership in Bolivia is further highlighted by the fact that credit card penetration is nearly non-existent in the country. With $5M USD in funds from a bank partner, they are positioned to fill a significant market gap. Get to know the case here.
Aperta Salud: A chain of low-cost primary healthcare centers with a focus on user experience and digital solutions, to empower patients in Bolivia to receive efficient inclusive, and affordable healthcare. Check the case here.
Dive deeper into other fundraising firms in LATAM here.
After the years of COVID-19 pandemic, healthtech startups in Latin America continue to thrive, with innovative solutions addressing health gaps and attracting investments. The pandemic catalyzed the growth of the healthtech sector, with investments in the region increasing by 4700% from 2015 to 2021, which overpassed the growth rates of all funding to startups in the region (picture below). Even though the sector faces come challenges, including data privacy concerns and regulatory hurdles, the growth is not slowing down. Telemedicine emerged as a primary trend, addressing accessibility issues and offering affordable healthcare solutions. For example, the Oxford business group forecasted the telehealth market to reach value of $5.6bn by 2026 in Latin America.
Recent news from this sector:
Peru: Speaking at the United Nations General Assembly, Peruvian President Dina Boluarte proposed an international pact to address the impacts of global weather events, emphasizing solidarity, resilience, and interdependence. She highlighted Peru's proactive measures against the Global El Niño phenomenon, with an investment of around US$1.079 billion. President Boluarte also urged developed countries to not only reduce emissions but also fulfill their commitments regarding technology transfer, financing, and the previously pledged US$100 billion per year for climate action in developing nations
Brazil: Brazil's economy began the third quarter with a growth rate surpassing expectations, with the IBC-Br economic activity index showing a 0.44% increase in July from June, outpacing the predicted 0.3% expansion. This robust performance led to the Finance Ministry revising its 2023 GDP projection from 2.5% to 3.2%. However, despite the economic upswing, government revenues have lagged, highlighting the challenges in achieving fiscal balance by 2024.
Mexico: Starlink, Elon Musk's satellite internet company under SpaceX, has begun selling its service in Mexico via the e-commerce platform Mercado Libre. This expansion adds to Starlink's presence in eight other Latin American countries. In Mexico, the service costs include an initial fee for the antenna and installation kit at USD 485 and a monthly fee of USD 64. Starlink's system, which operates through a constellation of low-orbit satellites, offers high-speed internet, especially beneficial for remote areas, and is expected to expand further in Latin America in the coming years.
Check out the latest episode of Find The Way podcast:
🦄Tale of a unicorn: Nuvemshop's experience in the e-commerce boom in Latin America! E-commerce rose from 5% of total retail sales pre-pandemic to a staggering 12%.
In this episode we are diving deeper alongside Alejandro Vázquez, the Co-founder and President of Nuvemshop | Tiendanube. "The brand behind the brands" is the largest platform for SMBs to start selling online in Latin America.
With more than 125,000 customers, 628.4 million USD raised, and with the latest valuation of 3.1 billion USD, Nuvemshop | Tiendanube is one of the most important players in the world of e-commerce in latam.
Listen here.
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