Bloomberg Línea — It wasn't a good quearter for Latin American startups, with venture capital and private equity deals dropping 69% in aggregate value in the first three months of the year compared to the same period last year, according to TTR Data. In terms of volume, the decrease was 39%.

Private equity transactions fell 37% to 37 deals throughout the region during Q1, while the number of venture capital ivnestments dropped 51% to 161 transactions. In an environment that continues to be unfavorable for fundraising due to higher interest rates, Justos, Araado, Magroove, FinanZero, and Galactic Holdings secured i nvestments in the past few days.

Justos

Brazilian car insurance startup Justos has received its third external investment with around of 32.5 million reais ($6.5 million) led by a strategic reinsurance investor with participation from Israel's MSR Capital and executives from Google, Pipe and EQT.

Justos had previously received a $35 million investment in a Series A round in October 2021, the largest check for a pre-operational company in Latin America. The round was led by Ribbit Capital and included participation from Kaszek, SoftBank, Big Bets, as well as the CEOs of Nubank and Kavak.

Source: Bloomberg Línea