Historically, Brazil has been the powerhouse in Latin America when it comes to venture capital funding. But in the second quarter of 2025, Mexico emerged as the leader in terms of dollars raised in the region, per Crunchbase data. It’s the first time since the second quarter of 2012 that Mexico startups brought in more venture dollars than their Brazilian counterparts in Latin America, our data indicates.
Mexico-based startups raised $437 million in the second quarter, up 85% year over year and 81% quarter over quarter. Brazil-headquartered startups brought in $350 million, down 23% year over year and a 14% dip quarter over quarter.
The largest raise in Mexico — and Latin America as a whole — was announced on June 30, the last day of the quarter. That was a $170 million Series C round for Mexico City-based fintech startup Klar — believed to be Mexico’s largest digital bank —- that valued the company at $800 million.
In general, a boom in late-stage and growth funding helped buoy the region for the period, Crunchbase data shows. Startups in Latin America raised a combined $961 million across seed- through growth-stage deals in the second quarter, up 16% year over year and 13% compared to the first quarter.
Of that total, $547 million went into late-stage and growth deals, up 102% year over year. That’s nearly exactly double the $273 million in late-stage and growth financings the region saw in the first quarter of this year.
中国墨西哥商会将继续作为墨西哥与中国之间的桥梁，不断努力。
Cámara de Comercio de México en China
(MEXCHAM)中国墨西哥商会
www.mexcham.org
bj.info@mexcham.org
