Mexico Approves COVID Vaccine while VC Funding Continues Throughout the Region

Mexico has become the fourth country in the world- and the first in Latin America- to approve emergency use of Pfizer’s COVID-19 vaccine. In VC news, Mozper, a platform designed to promote financial literacy among Latin America’s youth, closed a $3.55M Seed round.

Mexico has become the fourth country in the world- and the first in Latin America- to approve emergency use of Pfizer’s COVID-19 vaccine. In VC news, Mozper, a platform designed to promote financial literacy among Latin America’s youth, closed a $3.55M Seed round.


Mexico is the First Latin American Country to Approve Emergency Use of Pfizer-BioNTech COVID Vaccine

Mexico has become the fourth country in the world to approve emergency use of Pfizer’s COVID-19 vaccine, following authorization from health regulator Cofepris, a health official announced last Friday.

At the time of the announcement last Friday, the country registered 12,253 new confirmed cases of coronavirus infection and 693 additional fatalities, bringing the Mexico’s total to 1,229,379 cases and 113,019 deaths.

Reuters reports that Mexico’s government has signed an agreement with Pfizer to acquire 34.4 million doses of its vaccine, with the first batch expected to arrive this month.

According to Aljazeera, authorities stated priority will be given to medical staff on the front lines of the pandemic, and the doses will be administered only in Mexico City and in the northern state of Coahuila, due to the specialist deep freeze and logistics requirements of the vaccine.

Mozper Raises $3.55M Seed Round Three Months After Launching In Mexico, Bringing Total Funding To $5.1M

Mozper, a debit card and app designed for kids and parents in Latin America, has announced the closing of a $3.55M seed round, led by Hetz Ventures and participation from F-Prime Capital, Foundation Capital, Secocha Ventures, as well as previous investors Dux Capital and John Farrell.

Business Wire reports that the new investment round will help Mozper to further solidify its position as first mover for youth banking in Latin America by penetrating the Mexican market, where the app launched three months ago. The company also plans to expand into Brazil in 2021, work on enriching the product itself, and scaling the organization.

Mozper is bringing the weekly allowance into the digital era in Latin America, where about 70% of the population in the region has never received formal financial education, and do not have the right tools to teach their children. 

In Brazil and Mexico alone, parents give more than $10 billion each year in pocket money to kids. With a surge in digital adoption in the region and a shift of kids’ spending habits from cash to online payments, parents need an easier way to give their kids digital money and have the ability to monitor spending, while concurrently educating their kids about financial literacy. 

IDB Invest Provides a $50M Mezzanine Facility for Selina to Support LatAm Tourism Industry

IDB Invest, a member of the IDB Group, has provided a $50 million mezzanine facility for Selina, a global chain of lifestyle hotels, to support the continuity of its expansion plans in Latin America and The Caribbean.

According to Hospitality Net, IDB Invest's financing will enable Selina to enhance its liquidity amid the COVID-19 pandemic, expand its geographic presence in Latin America and The Caribbean, and incorporate innovative concepts and amenities across its property portfolio. 

The global chain operates 80 lifestyle hotels worldwide, 60 of which are located in 12 countries in Latin America and the Caribbean. 

Agritech TerraMagna Raises $2M Seed Round Led by ONEVC

TerraMagna, an agritech, raised a $2M Seed round, led by ONEVC. Other investors in the round included MAYA Capital, Acción Venture Lab, and various angel investors.

LatAm List reports that independent Brazilian farmers fund 80% of their working capital each season purchasing equipment, but are often overlooked by banks. 

TerraMagna utilizes satellite imaging and data sources to underwrite six to 12-month loans for SMEs in Brazil, providing them with reliable long-term funding.

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