Participated · Seed · Mar 2026

BackChannel operates a B2B platform that connects brands and retailers with buyers to monetize excess and idle inventory while maintaining control over channel, price, and distribution. The company leverages AI agents to automate processes and manage distribution controls. After validating its model in 2025 with BRL 25M in GMV, BackChannel projects BRL 150M in GMV for 2026. Its current network includes 18k retailers and over 100 large sellers, with a take rate of 12% and an average ticket of BRL 50k. The founders are Guillermo Freire and Guillermo Arslanian, formerly of Trocafone, and the new seed funding will be used to scale operations and expand the platform.

Participated · Equity · Jun 2024

Retorna is a Chilean fintech founded in 2018 by Atilana Piñón and Juan Camilo Mora that facilitates cross-border remittances for migrants with easy, fast and secure transactions and fair fees. The company’s core product simplifies money transfers between countries and targets financial inclusion for migrant populations across the region. Until this raise the startup was fully bootstrapped, and the new capital marks its first external funding round. Retorna plans to use the funds to scale customer acquisition and retention efforts and to open new remittance corridors connecting the region. The team emphasizes social impact and economic empowerment of migrants as central to its product and go-to-market strategy. Participation in Impacta VC’s fundraising programs in 2023 helped prepare the company for this fundraise and validated the team’s capacity to scale.

Participated · Series B · Jan 2024

Leal is a SaaS retail-tech company that enables B2C brands, e-commerce sites and financial institutions to build customer databases and offer cashback, rewards and targeted campaign management. The platform integrates with 160 point-of-sale systems and provides campaign tools and customer-behavior tracking, including for cash-paying customers. Leal works with more than 1,000 brands across 15 industries in eight countries; its client list includes Subway, Verifone and Chevron. The company reports more than 6 million users (up from 1.5 million in 2020), with 3.5 million active users joining in the last 12 months. Founded in 2016 by Camilo Martinez and Florence Frech and based in Bogotá, Leal nearly lost 85% of its merchants during the pandemic and rebuilt its business from 2021 onward. With the new funding it plans to reach $10 million in annual recurring revenue and to invest in Mexico penetration, omnichannel communications, smarter data collection, automation of benefits and AI-driven personalization including generative-AI chatbots and strengthened WhatsApp and Facebook Messenger channels. Leal is a Bogota, Colombia-based fintech operating across Latin America that provides cashback and rewards products enabling consumers to earn money back on everyday purchases. Led by CEO Camilo Martinez and COO Florence Frech, Leal launched in 2021 functionality that lets grocery shoppers scan paper receipts to earn Leal Coins redeemable for goods and services including gas, cell phone top-ups and Rappi deliveries. The company positions its digital wallet as an ecosystem that offers additional services beyond cashback, including a broader payment ecosystem and merchant network. Leal plans to expand its rewards program, digital wallet, payment ecosystem, user base, merchant network and Leal Coins throughout Mexico, Colombia and Central America in 2022. It intends to use new funding to launch a co-branded credit card, scale operations in Mexico and invest in technology development over the next year. Leal is a loyalty startup based in Bogota that aggregates reward programs into a single app used by more than 1 million registered users and over 450 affiliated brands. The platform integrates with point-of-sale payment terminals to capture transactional data and convert it into analytics for merchants. Businesses can use Leal's analytics to identify customers, visit frequency, average purchase tickets and brand perception. The system also enables brands to send customized, automated messages via SMS or email. Leal intends to use the new funding to accelerate expansion into Central America, starting with El Salvador and Panama. Co-founded by Florence Frech and Camilo Martinez, the company has raised more than US$5m to date.

Participated · Seed · Dec 2023

Moonflow provides a cloud-hosted collection platform that integrates accounts receivable management into a single system. The software enables users to segment portfolios, create personalized communications, schedule shipment flows, design special campaigns, build collection web pages, and place calls. It integrates communication infrastructure, payment gateways, and ERP connections to streamline and automate debt-collection processes across Latin America. The company targets financial companies and businesses in various sectors that handle large volumes of receivables. Moonflow will use the funding to accelerate customer acquisition and enhance its platform’s capabilities. In November 2023 the startup completed a pre-seed raise of $700K.

Participated · Series A · Jun 2023

Olé Life is a full-stack insurance carrier that sells life insurance via web and mobile and offers B2B embedding through quoting engines and APIs. Its AI-driven digital underwriting analyzes decades of customer data to underwrite policies up to $1 million without a medical exam. The company has members in 30 countries and more than 3,000 contracted advisors, and it introduced lifestyle "add-ons" such as a return-of-premium feature. In the past 16 months Olé Life has issued close to $1 billion in coverage, doubled its headcount, and posted first-quarter revenue that was 73% higher than Q1 2022. The founders, Michael, Andrew, and Brian Carricarte, position the company to target Latin America’s growing middle class. Planned product and distribution priorities include advancing AI capabilities, adding more health and lifestyle add-ons, expanding agents to 5,000, pursuing B2B opportunities, and obtaining licenses in Mexico and Brazil by year-end.