The foreign exchange service industry in Latin America connects individuals, businesses, and financial institutions to currency trading and currency transfer services. Companies like fintech startups and traditional banks succeed by offering products such as foreign currency accounts, transfer solutions, and payment processing services. The industry's growth reflects a demand for smooth international transactions, enhancing trade and tourism. LatAm is witnessing advancements in technology adoption for secure currency exchange, increasing competition and innovation among payment processors. Blockchain technology is gaining traction, providing transparency and efficiency. Overall, the industry is positioning itself for a promising future in the digital economy.

This list highlights 14 investors influencing the foreign exchange service sector in Latin America. The majority are venture capital firms based in major cities like Sao Paulo and Buenos Aires, with a mix of corporate investors also included. Established since 2005, these firms focus on early-stage and seed-stage investments, with varying deal counts across 2024, from a handful to over fifty. They demonstrate notable interest in innovative fintech startups, reflecting a commitment to advancing the industry in both established and emerging markets across the region.

Top 14 Foreign Exchange Service Investors in Latin America

1. bossa invest

• Website: bossainvest.com
• Type: Venture Capital
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2011
• Headcount: 11-50
• Number of deals in 2024: 56
• LinkedIn: bossainvest

Bossa Invest is a venture capital firm based in Sao Paulo, Brazil, founded in 2011. The firm specializes in investing in innovative startups, particularly in the technology sector, and has made 56 investments in 2024 alone. Bossa Invest provides capital, strategic guidance, and access to a network of co-investors, aiming to empower entrepreneurs and foster growth in the startup ecosystem. Notably, Bossa Invest has participated in significant transactions such as Ripple's $200 million Series C funding, which focuses on cross-border payment solutions, and Flutterwave's $35 million Series B round, a company that facilitates payment processing across Africa. These investments highlight Bossa Invest's engagement in the fintech and foreign exchange service sectors, making it a relevant player in this space.

2. Kaszek

• Website: kaszek.com
• Type: Venture Capital
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2011
• Headcount: 11-50
• Number of deals in 2024: 17
• LinkedIn: kaszek-ventures

Kaszek is a venture capital firm based in Sao Paulo, Brazil, founded in 2011. The firm focuses on investing in and supporting entrepreneurs across Latin America, providing capital and strategic guidance to technology-driven startups. With a strong emphasis on long-term partnerships, Kaszek aims to foster a vibrant technology ecosystem in the region. Among their notable transactions, Kaszek has invested in Remessa Online, a Brazilian money transfer service that raised $20 million in a Series B round, expanding its services internationally. They also participated in BeeTech, which raised $21 million in a Series B round, further emphasizing their commitment to the foreign exchange service industry. Additionally, their investment in DolarApp, a fintech focused on currency exchange, showcases their engagement in the foreign exchange sector. Furthermore, Kaszek's involvement in Bitso, a leading Latin American crypto exchange, indicates their interest in innovative financial services that intersect with foreign exchange activities.

3. Magma Partners

• Website: magmapartners.com
• Type: Venture Capital
• Headquarters: Providencia, Santiago, Chile
• Founded year: 2014
• Headcount: 11-50
• Number of deals in 2024: 6
• LinkedIn: magma-partners

Magma Partners is a venture capital firm based in Providencia, Santiago, Chile, founded in 2014. The firm specializes in investing in early-stage startups across Latin America, with a strong emphasis on sectors such as fintech and insurtech. With over 125 companies backed, Magma Partners aims to address significant regional challenges and support scalable technology businesses. Notably, they have invested in Global 66, which raised $12 million in a Series A round, indicating their interest in foreign exchange services. Additionally, they participated in the seed round for Belo, an Argentine crypto startup, which is expanding its services in the region, further showcasing their commitment to the fintech landscape. Their involvement in Kushki, a leading Latin American fintech company, also highlights their focus on innovative financial solutions, which may include foreign exchange services.

4. Latitud

• Website: latitud.com
• Type: Venture Capital
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2020
• Headcount: 11-50
• Number of deals in 2024: 24
• LinkedIn: latitude4

Latitud is a venture capital firm and startup accelerator based in Sao Paulo, Brazil, founded in 2020. It focuses on supporting tech founders in Latin America by providing funding, mentorship, and community resources to help startups scale and succeed. Latitud has been actively involved in various funding rounds, including notable investments in the fintech and cryptocurrency sectors. For instance, it participated in a $3M seed round for Belo, an Argentine crypto startup aiming to expand its services in Mexico and Brazil, which highlights its interest in the foreign exchange service context. Additionally, Latitud has invested in other startups like Remitee, KillB, Tapi, and Finkargo, which may also have relevance to the financial technology landscape, further solidifying its role in fostering growth within the tech ecosystem in Latin America.

5. 99 Startups

• Website: 99startups.com
• Type: Corporate
• Headquarters: Mexico City, Mexico City, Mexico
• Founded year: 2016
• Headcount: 1-10
• Number of deals in 2024: 3
• LinkedIn: xylo-capital

99 Startups is a venture capital firm based in Mexico City, Mexico, founded in 2016. The firm specializes in seed-stage investments across Latin America, with a strong focus on sectors such as fintech, SaaS, and AI. They partner with ambitious entrepreneurs to help build generational companies by providing both capital and support. Notably, 99 Startups has invested in EFEX, which raised $1,250,000 in a pre-seed round, indicating their interest in foreign exchange services. Additionally, they have participated in funding rounds for other fintech companies like Koywe and Palomma, which may also engage in financial services relevant to foreign exchange. Their diverse portfolio reflects a commitment to fostering innovation in the financial technology landscape.

6. Monashees

• Website: monashees.com
• Type: Venture Capital
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2005
• Headcount: 11-50
• Number of deals in 2024: 18
• LinkedIn: monashees-capital

Monashees is a venture capital firm based in Sao Paulo, Brazil, founded in 2005. The firm specializes in investing in technology-driven companies across Latin America, providing not only capital but also strategic support to entrepreneurs. Monashees has been involved in several significant transactions, particularly with Nomad, a company that has raised substantial funding in the foreign exchange service sector. Notably, Nomad raised $60.7 million in a Series B round on August 22, 2023, following earlier rounds of $31.6 million in May 2022 and $19.3 million in July 2021. These investments highlight Monashees' active role in supporting companies that facilitate foreign exchange services, making them a relevant player in this industry.

7. Nexo

• Website: nexo.com
• Type: Corporate
• Headquarters: Georgetown, Demerara-Mahaica, Guyana
• Founded year: 2018
• Headcount: 501-1000
• LinkedIn: nexofinance

Nexo is a financial technology company founded in 2018, specializing in digital asset management and cryptocurrency services. Based in Georgetown, Demerara-Mahaica, Guyana, Nexo offers a platform for users to buy, exchange, and borrow against cryptocurrencies, catering to both individual consumers and businesses. The company provides innovative financial solutions, including a loyalty program and corporate accounts, to enhance the management of digital assets. Nexo has been involved in several significant transactions relevant to the foreign exchange service industry, such as participating in a $60 million Series A funding round for BCB Group, which provides business accounts and liquidity in the foreign exchange market. Additionally, Nexo participated in funding rounds for Blockfills, a company focused on cryptocurrency trading and liquidity, and Paradigm, a crypto derivatives firm. These transactions highlight Nexo's active role in the financial technology sector, particularly in areas that intersect with foreign exchange services.

8. Infinite Capital

• Website: infinite.xyz
• Type: Venture Capital
• Headquarters: San Juan, San Juan, Puerto Rico
• Founded year: 2017
• Headcount: 1-10
• Number of deals in 2024: 7
• LinkedIn: infinitecap

Infinite Capital is a venture capital firm based in San Juan, Puerto Rico, founded in 2017. The firm focuses on supporting innovative teams at the forefront of decentralized networks and deep tech, providing capital and strategic guidance to entrepreneurs and management teams to help them scale their projects effectively. In 2023, they participated in a significant Series A funding round for Membrane Labs, which raised $20 million to enhance technology for crypto institutions, showcasing their commitment to the intersection of finance and technology. Additionally, their early investments in 0x, which raised funds through a Seed Round and an Initial Coin Offering, highlight their focus on decentralized finance solutions. Their involvement with Futureswap, a platform for decentralized trading, further emphasizes their engagement in the foreign exchange service context, particularly within the cryptocurrency space.

9. Newtopia VC

• Website: newtopia.vc
• Type: Venture Capital
• Headquarters: Buenos Aires, Buenos Aires, Argentina
• Founded year: 2021
• Headcount: 11-50
• Number of deals in 2024: 11
• LinkedIn: newtopiavc

Newtopia Venture Capital is a venture capital firm based in Buenos Aires, Argentina, founded in 2021. The firm specializes in early-stage investments in technology startups throughout Latin America, aiming to foster innovation and entrepreneurship in the region's tech ecosystem. Newtopia VC has been actively involved in various funding rounds, including notable investments in companies like Belo, a crypto startup that raised $3 million to expand its services in Mexico and Brazil. This investment highlights Newtopia's engagement with the foreign exchange service industry, particularly in the context of cryptocurrency. Other investments include Félix and Tapi, which, while not directly related to foreign exchange, showcase Newtopia's commitment to supporting emerging technology ventures. Overall, Newtopia VC's focus on tech startups, including those in the crypto space, positions it as a relevant player in the foreign exchange service sector.

10. Sanctor Capital

• Website: sanctor.com
• Type: Venture Capital
• Headquarters: San Juan, San Juan, Puerto Rico
• Founded year: 2021
• Headcount: 1-10
• Number of deals in 2024: 8
• LinkedIn: sanctor-capital

Sanctor Capital is a venture capital firm based in San Juan, Puerto Rico, founded in 2021. The firm specializes in supporting early-stage projects within the Web3 space, providing mentorship and acceleration services to help founders navigate the challenges of launching their startups. Sanctor Capital has been involved in several notable transactions, including a $3.75 million investment in THORSwap, a decentralized exchange (DEX) that facilitates trading in the Thorchain environment. This involvement highlights their interest in platforms that operate within the cryptocurrency trading space. Additionally, they participated in funding rounds for other blockchain-related projects, such as Ovex and VCRED, which further emphasizes their commitment to technology and blockchain innovation. While their focus is primarily on technology, their engagement with decentralized exchanges suggests a tangential relevance to the foreign exchange service industry.

11. Valhalla Capital

• Website: valhalla.capital
• Type: Venture Capital
• Headquarters: San Juan, San Juan, Puerto Rico
• Headcount: 1-10
• Number of deals in 2024: 2
• LinkedIn: valhalla-capital

Valhalla Capital is a venture capital firm based in San Juan, Puerto Rico, that supports founders and builders in decentralized finance, play-to-earn, and the metaverse. They provide essential services such as capital, connections, research, and strategic guidance to help startups navigate their respective industries. Notably, Valhalla Capital has invested in FXDX, a startup that raised $570,000 in a seed round, which directly relates to the foreign exchange service industry. This investment highlights their engagement in the sector, alongside other investments in companies like tiiik, ULTRADE, Prismatic, and Genius Yield, which, while primarily focused on DeFi and Web3, indicate a broader interest in innovative financial solutions.

12. 2tm

• Website: 2tmgroup.com
• Type: Corporate
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2013
• Headcount: 501-1000
• Number of deals in 2024: 2
• LinkedIn: holding2tm

2TM is a financial technology company based in Sao Paulo, Brazil, specializing in blockchain and digital assets. Founded in 2013, the company operates a digital asset marketplace and offers investment management services to both businesses and consumers. 2TM aims to democratize access to alternative investments and improve the efficiency of financial transactions through innovative technology solutions. Notably, 2TM participated in the Seed funding round for Trace Finance, a fintech startup focused on creating a US-based bank account for LatAm startups and facilitating cross-border capital exchange. This involvement highlights their interest in enhancing foreign exchange services. Additionally, 2TM acquired a controlling stake in CriptoLoja, a Lisbon-based bitcoin exchange, marking a strategic entry into the European market and further solidifying their position in the digital asset and foreign exchange landscape.

13. Onevc

• Website: onevc.vc
• Type: Venture Capital
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2017
• Headcount: 1-10
• Number of deals in 2024: 9
• LinkedIn: onevc

ONEVC is a venture capital firm based in Sao Paulo, Brazil, founded in 2017. The firm specializes in seed-stage investments across Latin America, providing financial backing and operational assistance to startup founders. Onevc has been actively involved in several transactions, including a notable investment in Finkargo, which raised $20 million in Series A funding in 2024 to enhance global trade for SMBs in Latin America. This investment, along with their earlier participation in Finkargo's seed round, highlights Onevc's commitment to supporting companies that operate within the financial services and foreign exchange context. Additionally, their investment in Nomad, which raised over $19 million in Series A funding, further demonstrates their engagement in sectors that intersect with foreign exchange services, particularly in facilitating cross-border transactions and financial solutions for businesses.

14. Airborne Ventures

• Website: airborne.ventures
• Type: Venture Capital
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2021
• Headcount: 1-10
• Number of deals in 2024: 10
• LinkedIn: airborne-ventures

Airborne Ventures is a venture capital firm based in Sao Paulo, Brazil, founded in 2021. The firm specializes in investing in early-stage startups, providing strategic guidance and networking opportunities to entrepreneurs. With a focus on value investing, Airborne Ventures aims to deliver strong returns by identifying promising startups across various sectors. Notably, they have invested in Remessa Online, a company that facilitates international money transfers, which places them within the foreign exchange service context. Additionally, they have made investments in other startups like Jeitto and Guru, further showcasing their active role in the startup ecosystem. Their diverse portfolio reflects a commitment to fostering innovation and growth in emerging markets.

Foreign Exchange Service Insights: Key Investors in Latin America

Investor	Headquarter	Size	Founded	Deals 2024
bossa invest	Sao Paulo, Sao Paulo, Brazil	11-50	2011	56
Kaszek	Sao Paulo, Sao Paulo, Brazil	11-50	2011	17
Magma Partners	Providencia, Santiago, Chile	11-50	2014	6
Latitud	Sao Paulo, Sao Paulo, Brazil	11-50	2020	24
99 Startups	Mexico City, Mexico City, Mexico	1-10	2016	3
Monashees	Sao Paulo, Sao Paulo, Brazil	11-50	2005	18
Nexo	Georgetown, Demerara-Mahaica, Guyana	501-1000	2018	0
Infinite Capital	San Juan, San Juan, Puerto Rico	1-10	2017	7
Newtopia VC	Buenos Aires, Buenos Aires, Argentina	11-50	2021	11
Sanctor Capital	San Juan, San Juan, Puerto Rico	1-10	2021	8
Valhalla Capital	San Juan, San Juan, Puerto Rico	1-10		2
2tm	Sao Paulo, Sao Paulo, Brazil	501-1000	2013	2
Onevc	Sao Paulo, Sao Paulo, Brazil	1-10	2017	9
Airborne Ventures	Sao Paulo, Sao Paulo, Brazil	1-10	2021	10

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