Latin American 'white label' e-commerce platform provider Infracommerce raised 400mn reais (US$81mn) in a rare 2023 follow-on share offering in the Brazilian capital market.

The funds raised will be used to pay off loans, finance recent acquisitions and invest in services, systems and technology, the company said in a statement. 

The company sold 250mn shares at 1.60 reais each. With the offering, Infracommerce's stock capital reached 2.05bn reais, divided into 637,335,513 common shares, all nominative and with no par value. 

Participating in the capital increase as anchors were Patria funds and Compass Group LLC. Itaú BBA, Santander Brasil, UBS BB, BTG Pactual and ABC Brasil coordinated the offering.

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Latin American startups raised US$233mn in 66 funding rounds in November, according to a monthly report by SlingHub and Itaú BBA.

In volume terms, the figures were stable compared with the total raised in November 2022. However, there was a 10% year-over-year drop in the number of deals, but a 16% month-on-month increase.

The top countries in terms of investments were Brazil (54% of the November total), Colombia (17%) and Mexico (15%). By number of rounds, Brazil led with 48% of the total, followed by Colombia (15%) and Chile (12%).

The most common fundraising stage in November was Seed, with 19 rounds, while the leading sectors were fintechs (23% of the deals), logtechs (14%) and healthtechs (11%), according to SlingHub. 

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Mexico saw 305 dealmaking transactions in January-November, worth a combined US$12.2bn, according to November 2023 figures from TTR Data.

Internet, software and tech transactions continue to be the main focus of the venture capital, private equity, asset acquisitions and M&A deals, while inbound dealmaking in the country in the period was led by US-based companies, the report states. 

Across Latin America, dealmaking dipped 14% by volume and 26% by aggregate value, both year-on-year.

Among the top six M&A markets in the region, Brazil led both by deal volume and aggregate value, followed by Chile and Mexico. The ranking was the same with aggregate value, but with Peru in fourth place, followed by Colombia and Argentina. 

Source: Business News Americas / BN Americas - Chile