PitchBook News - VCs fuel Latin America fintech boom

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The Daily Pitch: VC

April 19, 2021

Like our newsletter? The data comes from the PitchBook Platform — our data software for VC, PE and M&A

Today's Top Stories

VC interest in Latin America swells as fintech takes flight

Sao Paulo is home to a host of fintech startups including Nubank and Creditas. (Matt Mawson/Getty Images)

The rise of fintech innovation and demand for online banking tools amid the pandemic has ignited a digital transformation in Latin America.

Last year, startups in the region pulled in more than $1.3 billion across 110 VC deals, according to PitchBook data.

Neobanks with differentiated business models are likely to thrive as they continue to attract venture interest from across the globe.

"Challenger banks are finally creating a level of competition in the market that is really healthy for consumers," said Bill Cilluffo, a partner at QED Investors.

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Since yesterday, the PitchBook Platform added:

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Quick Takes


	The Daily Benchmark
	2008 Vintage Global Secondaries Funds
	VC Deals
	Outschool grabs $75M, hits unicorn status
	Vyond picks up $50M
	Level lands $27M Series A

The Daily Benchmark

2008 Vintage Global Secondaries Funds

Median IRR

12.33%

Top Quartile IRR Hurdle Rate

16.18%

1.51x

Median TVPI

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Industry Ventures Secondary Fund V

Fort Washington Private Equity Opportunities Fund II

OHIM Secondary Investments 2008

*IRR: net of fees

16 Funds in Benchmark »

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VC Deals

Outschool grabs $75M, hits unicorn status

Outschool, the operator of a marketplace for virtual classes and afterschool activities for kids, has closed a $75 million Series C led by Coatue Management and Tiger Global. The round, which also saw participation from investors like Lightspeed, Union Square Ventures and Reach Capital, brings the company's valuation to $1.3 billion. San Francisco-based Outschool has raised more than $130 million in venture capital funding to date, according to PitchBook data.

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Vyond picks up $50M

Animation software maker Vyond has raised $50 million in a round led by PeakSpan Capital. The Bay Area company offers tools to help businesses create videos for employee training, marketing content and internal communications.

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View 4 competitors »

Level lands $27M Series A

Healthcare benefits startup Level has raised $27 million in a round co-led by Khosla Ventures and Lightspeed, with Operator Collective, First Round Capital and Homebrew also participating. The New York-based company offers self-insured dental and vision benefits for employers.

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Chart of the Day

"167 VC deals at or over $100 million closed in the quarter, representing $41.7 billion in capital investment, which puts 2021 on track to easily set a new annual record for mega-deals on both a count and value basis. This also means that 13.5% of the recorded late-stage VC deals in Q1 fall under this category, demonstrating how these transactions—considered to be anomalies only a few years ago—have become commonplace."

Source: Q1 2021 PitchBook-NVCA Venture Monitor