M&A Newsletter — April 2022

La Preciosa Silver Project, a silver project based in Durango, Mexico owned by Coeur Mining (NYS: CDE), was acquired by Avino Silver & Gold Mines (TSE: ASM) for USD $29.75 million. The company will receive a contingent payment of USD $8.75 million, payable by Avino to Coeur following initial production at La Preciosa.

Mexico's Lago de Oro, a company operating a gold project based in Nayarit, Mexico, was acquired by Huntington Exploration (TSXV: HEI) for an undisclosed amount.

Ixaya Business SA, a software and IT-solutions developer focused on high-availability research and user experience based in León, Mexico, was acquired by HUMBL (PINX: HMBL) for USD $150,000.00.

Medistik, a logistics and supply-chain services provider serving the healthcare industry based in Toluca, Mexico, reached a definitive agreement to be acquired by Grupo Traxión (MEX: TRAXIONA) for MXN $1,567.00 million.

U.S.-based Tamber, a developer of a platform enabling developers to customize applications based in San Francisco, California, was acquired by Beek for an undisclosed amount.

Mexico's Netsoft, a company offering cloud-based administrative and financial technology headquartered in Mexico City, reached a definitive agreement to acquire Brazil's Habillis for an undisclosed amount.

Cura Deuda, a developer of a Fintech platform aimed at revolutionizing credit repair based in Mexico City, closed a funding round of USD $1.30 million led by Magma Partners and Anteris Capital. Other undisclosed investors also participated in this round.

Mexico's Kapital, a developer of an all-in-one banking platform designed to enhance treasury visibility and control, joined Y Combinator Winter Batch 2022 and received USD $500,000.00 in funding in the form of SAFE notes.

Mexico's Neivor, a developer of a property-management platform designed to digitize condominium administration in Colombia and Mexico, closed a funding round of USD $3.50 million led by SoftBank Latin America Fund. Magma Partners, Marathon Ventures, Crestone Venture Capital and Two Culture Capital, among others, also participated in this round.

Draftea, an operator of a fantasy-sports platform serving the Spanish-speaking world based in Mexico City, closed a funding round of USD $4.00 million led by Thirty Five Ventures, Mantis VC and Courtside Ventures. NNS Group, Arrive and five other angel investors also participated in this round.

Bedu, a developer of an online educational platform designed to unlock the potential to learn technology, business and languages based in Mexico City, closed a funding round for an undisclosed amount with ETF@JFFLabs.

Mexico's Vexi, a developer of a financial and banking application, closed a funding round of USD $24.00 million in a combination of debt and equity led by Magma Partners and Accia Capital, respectively. Alpha4Ventures, NOA Capital, Village Capital and Pomona Impact also participated in this round.

Mexico's 99 Minutos, a provider of delivery services designed to simplify the burden of fulfilling online retail orders, closed a funding round of USD $82.00 million led by OAK HC/FT. Kaszek and Prosus Ventures also participated in this round.

Mexico's Pacto, a developer of a digital-commerce platform designed to order and pay at restaurants, closed a seed funding round of USD $2.00 million led by FEMSA Ventures, 500 Startups LatAm and LEAP Global Partners. Kevin Carter and other undisclosed investors also participated in this round.

Mexico's Riogrande, an operator of a platform designed to acquire, build and adapt digital brands and to optimize and integrate their operations, closed a seed funding round of USD $12.00 million led by Wollef and Y Combinator. Angel investors Arielle Zuckerberg of Coatue, Simón Borrero of Rappi and Justin Mateen of Tinder also participated in this round.

Mexico's Tani Salud, an operator of a health marketplace designed to provide quality care and transparent surgery pricing, closed a seed funding round of USD $700,000.00 led by Polymath Ventures. First Check Ventures, 500 Startups, Roger Laughlin and other undisclosed investors also participated in this round.

Brazil's Cayena, a developer of a B2B retail platform designed to help suppliers connect with restaurants, closed a funding round of BRL R$120.00 million led by Picus Capital and Vine Ventures. Tap Development, FEMSA Ventures, MSA Capital, Canaan Partners and Clocktower Technology Ventures, among others, also participated in this round.

U.S.-based NCX, a high-quality carbon-credit provider focused on managing forest carbon projects based in San Francisco, closed a funding round of USD $50.00 million led by Energize Ventures, reaching a pre-money valuation of USD $225.00 million. Intercontinental Exchange, Dalus Capital, Clearvision Ventures, Scribble Ventures and Time Ventures, among others, also participated in this round.

Colombia's Simetrik, a developer and operator of a data-reconciliation platform for enterprises, closed a funding round of USD $24.00 million led by FinTech Collective, reaching a pre-money valuation of USD $80.00 million. MercadoLibre Meli Fund, Tiger Global Management, Monashees, Cometa and Amador Holdings, among others, also participated in this round.

Spain's Bnext, a developer of a digital banking platform designed to offer a digital alternative to traditional banking, closed a funding round of EUR €9.00 million led by Love Capital, Cometa and Albert Armengol. Roosh Ventures, Allegro Capital, Algorand and Borderless Capital also participated in this round.

Colombia's Acasa, a real-estate services provider designed to help homeowners relocate by leveraging the value of their current home, closed a funding round of USD $37.70 million, of which USD $4.70 million was provided by Quona Capital with the participation of nine other investors and USD $33.00 million in debt was provided by Architect Capital.

Colombia's Yuno, a developer of fast-payment technology designed to integrate businesses into the payments and fraud-prevention ecosystem, closed a seed funding round of USD $10.00 million led by Andreessen Horowitz, Monashees and Kaszek. Nazca, Latitud, ONEVC, Opera Ventures and Ricardo Weder, among others, also participated in this round.

Brazil's Kamino, a financial-services provider designed to accelerate the time-to-market of startups, closed a seed funding round of USD $6.10 million led by Inspired Capital. Global Founders Capital, Flourish Ventures, Propel Venture Partners, Clocktower Technology and Norte Ventures, among others, also participated in this round.

Uruguay's Datanomik, a developer of an open-banking platform designed to connect companies to the financial ecosystem, closed a seed funding round of USD $6.00 million led by Andreessen Horowitz. Canary, Nazca, Latitud, Conrado Engel and Pablo Garfinkel, among others, also participated in this round.

U.S.-based EMTECH, a developer of cloud-based software designed to provide central banks with scalable and resilient digital infrastructure based in New York, closed a seed funding round of USD $4.00 million led by XFactor Ventures, Noemis Ventures and Consonance Investment Managers. Octerra Capital, Canaan Partners and 500 Startups LatAm also participated in this round.

Argentina's Let'sBit, a developer of a digital banking platform offering payments, investments, savings and local and cross-border transactions across Latin America via cryptocurrencies, closed a seed funding round for an undisclosed amount led by Angel Ventures México. Primary Ventures and other undisclosed investors also participated in this round.

Latitud, a technology entrepreneurship ecosystem focused on Latin America, closed a seed funding round of USD $11.50 million led by a16z. NFX, Endeavor, Canary and FJ Labs, among other individual investors, also participated in this round.

Mexico's Viaja-Click, a startup developing an online travel-package search engine, is seeking financing of MXN $4.50 million through SnowBall. Previously, it closed a financing round of MXN $10.00 million with private investors.

Mexico's Viaja-Click, a startup developing an online travel-package search engine, is seeking financing of MXN $4.50 million through SnowBall. Previously, it closed a financing round of MXN $10.00 million with private investors.

Grupo Dico, a company engaged in the manufacturing of home furniture and accessories based in Tepotzotlán, Mexico, carried out an investment of MXN $31.00 million for the creation of a specialized furniture marketplace in Mexico.

Colombia's Acasa, a real-estate services provider designed to help homeowners relocate by leveraging the value of their current home, closed a funding round of USD $37.70 million, of which USD $4.70 million was provided by Quona Capital with the participation of nine other investors and USD $33.00 million in debt was provided by Architect Capital.

Plasco, a manufacturer of plastic polymers, compounds and precision metal parts based in Mexico City, reached a definitive agreement to be acquired by Clayens NP Group through its financial sponsors Siparex Group, BNP Paribas, Socadif, Crédit Agricole Régions Investissement and Africinvest via an LBO.

Brazil's Nofaro, a provider of health plans for dogs and cats with online enrollment and monitoring, was acquired by PetLove through its financial sponsors L Catterton, Tarpon Capital, Riverwood Capital and SoftBank Latin America Fund, among others, via an LBO for an undisclosed amount.

Almacenadora Afirme (MEX: AFIRALM) carried out the placement of short-term market securities (certificados bursátiles) in the amount of MXN $3,078.15 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

Arrendadora Afirme (MEX: AFIRMAR) carried out the placement of short-term market securities (certificados bursátiles) in the amount of MXN $511.08 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

ION Financiera (MEX: ION) completed the placement of short-term market securities (certificados bursátiles de corto plazo) in the amount of MXN $370.09 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

GM Financial de México (MEX: GMFIN) completed the placement of short-term market securities (certificados bursátiles de corto plazo) in the amount of MXN $2,529.82 million on the Bolsa Mexicana de Valores (BMV) through Scotia Inverlat Casa de Bolsa and Casa de Bolsa Banorte.

Paccar Financial México (MEX: PCARFM) completed the placement of short-term market securities (certificados bursátiles de corto plazo) in the amount of MXN $681.90 million on the Bolsa Mexicana de Valores (BMV) through Scotia Inverlat Casa de Bolsa.

Volkswagen Leasing (MEX: VWLEASE) completed the placement of short-term market securities (certificados bursátiles de corto plazo) in the amount of MXN $2,836.85 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México.

Banco de México, acting as trustee of the public trust Fondo Especial para Financiamientos Agropecuarios (MEX: FEFA), completed the placement of fiduciary market securities (certificados bursátiles fiduciarios) in the amount of MXN $5,000.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México, Scotia Inverlat Casa de Bolsa and Casa de Bolsa Santander.

Unirenta Arrendamientos (MEX: UNIRECB) completed the placement of fiduciary market securities (certificados bursátiles fiduciarios) in the amount of MXN $500.00 million on the Bolsa mexicana de Valores (BMV) through Casa de Bolsa Ve Por Más and Vector Casa de Bolsa.

Factoring Corporativo (MEX: FACTOR) completed the placement of short-term market securities (certificados bursátiles de corto plazo) in the amount of MXN $150.00 million on the Bolsa Mexicana de Valores (BMV) through Vector Casa de Bolsa.

Cetelem (MEX: CETELEM) completed the placement of short-term market securities (certificados bursátiles de corto plazo) in the amount of MXN $200.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México.

Toyota Financial Services México (MEX: TOYOTA) completed the placement of short-term market securities (certificados bursátiles) for MXN $712.12 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and Scotia Inverlat Casa de Bolsa.

Arrendadora Actinver (MEX: ARREACT) completed the placement of short-term market securities (certificados bursátiles) for MXN $410.00 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa.

Start Banregio (MEX: START) completed the placement of short-term market securities (certificados bursátiles) for MXN $785.00 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa.

Financiera Bepensa (MEX: FINBE) completed the placement of short-term market securities (certificados bursátiles) for MXN $622.072 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa and Casa de Bolsa Banorte.

Portafolio de Negocios (MEX: PDN) completed the placement of short-term market securities (certificados bursátiles) for MXN $145.99 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Banorte and CI Casa de Bolsa.

Grupo Aeroportuario del Centro Norte (MEX: OMA) completed the placement of long-term market securities (certificados bursátiles) for MXN $4,000.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

Banco Santander México (MEX: BSMX) completed the placement of bank market securities (certificados bursátiles bancarios) for MXN $9,890.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Santander.

Consubanco (BIVA: CSBANCO) completed the placement of bank market securities (certificados bursátiles bancarios) for MXN $1,200.00 million on the Bolsa Institucional de Valores (BIVA) through Bursamétrica Casa de Bolsa.

Grupo Elektra (BIVA: ELEKTRA) carried out the issuance of long-term market securities (certificados bursátiles) for MXN $3,355.68 million on the Bolsa Institucional de Valores (BIVA) through Actinver Casa de Bolsa and Punto Casa de Bolsa.

CIBanco (BIVA: KANANPI) (BIVA: CAPI) carried out the issuance of trust market securities (certificados bursátiles fiduciarios) for MXN $1,843.82 million on the Bolsa Institucional de Valores (BIVA) through Casa de Bolsa BBVA México, Vector Casa de Bolsa and Casa de Bolsa Santander.

Grupo Aeroportuario del Pacífico (BIVA: GAP) carried out the issuance of long-term market securities (certificados bursátiles) for MXN $5,000.00 million on the Bolsa Institucional de Valores (BIVA) through Casa de Bolsa BBVA México.

Mexarrend (BIVA: MEXAMX) carried out the issuance of short-term market securities (certificados bursátiles) for MXN $110.00 million on the Bolsa Institucional de Valores (BIVA) through Vector Casa de Bolsa.

Fideicomiso Hipotecario (BIVA: FHIPO) carried out the issuance of short-term market securities (certificados bursátiles) for MXN $100.00 million on the Bolsa Institucional de Valores (BIVA) through Casa de Bolsa Banorte, Actinver Casa de Bolsa, HSBC Casa de Bolsa and Casa de Bolsa BBVA México.

Sofoplus (BIVA: SFPLUS) carried out the issuance of short-term market securities (certificados bursátiles) for MXN $150.00 million on the Bolsa Institucional de Valores (BIVA) through Casa de Bolsa Ve por Más.

CIBanco (BIVA: ENCAPCB) carried out the issuance of trust market securities (certificados bursátiles fiduciarios) for USD $4,500.00 million on the Bolsa Institucional de Valores (BIVA) through Casa de Bolsa Banorte.

The Clúster de Innovación y Transformación Inmobiliaria (CITI), the first cluster of its kind in Latin America, was launched with the participation of real estate companies Coldwell Banker, Remax, Keller Williams México, The Smart Flat, Century 21, Quality Inmobiliaria and Realty World.