LatAm Tech Weekly

237: Itau week in NY, GPT for personal finance is here, deals of the week... and much more!

May 17, 2026

Weekly writing about what is happening in LatAm tech. By day, I am part of the corporate development team at Itau Unibanco. By night, I am reading and learning about technology in general (now, with a focus on AI). During the weekends, I’m writing the LatAm Tech Weekly. And obviously, always running!

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Happy Sunday!

Back from an intense week packed with events, I now have a long list of fascinating reads sitting in my pipeline… but not enough time (yet) to properly dive into them. I already know what some of you are thinking: “Why not just use AI to summarize everything?” Honestly, not this time. I still prefer to read certain things the old-fashioned way — highlighter in hand, pen nearby, notebook open, writing down thoughts and connecting ideas as I go. Why? Because that’s still how I learn best. Reading slowly, letting the concepts sink in, reflecting on them… and then summarizing the key takeaways for you.

This week, I’ll still focus on recapping some of the insights and conversations from the past few days. But next week, I promise I’ll come back with a deeper dive into what I learned from these materials. If you’re curious, here’s what’s currently on my reading list — all recommended by my good friend Alessio (founder of Pipefy, and one of the sharpest minds I know in enterprise software and AI):

• AGNT – The Orchestration Economics Manifesto (277 pages)
• Gartner Hype Cycle for Agentic AI (112 pages)
• Gartner Emerging Tech AI Vendors (15 pages)

And yes… I also know what you’re probably thinking next: “How exactly are you planning to read all of this while working 12-hour days and marathon training?” Fair question. But somehow, there are always hidden pockets of time — during commutes, lunch breaks, flights, or even an hour before bed. I’ll find a way. Next week, I’ll share the highlights.

Itaú Week in New York 2026: Where Markets Meet Humanity

There are events. And then there are Itaú events.
Only Itaú manages to deliver something that feels simultaneously different, dynamic, and engaging — and yet consistently, year after year, indispensably relevant. The caliber of attendees across all events speaks for itself: world-class CEOs, top-tier portfolio managers, leading economists, and technology pioneers. But what truly sets this week apart isn’t the names on the agenda — it’s the energy in the room.

At a moment in history when every conversation seems to revolve around artificial intelligence and the removal of the human from the loop, Itaú Week in New York is a powerful reminder of exactly the opposite. Connections are still forged between people. Trust is still built across a dinner table, a handshake, a shared idea. Stakeholder relationships still require presence, nuance, and genuine human exchange. Itaú embodies this duality better than almost any institution I know: a bank that is fiercely technology-forward and future-oriented, while never losing sight of the irreplaceable human element at the core of everything it does.

Market Pulse: What the Room Was Saying

The macro backdrop heading into the week told its own story. A few first impressions from the CEO Conference crystallized the dominant narratives: Brazil was somewhat absent from the top of the global investment discussion. AI and technology have fully reclaimed the narrative — and the sense is that the old Developed Markets vs. Emerging Markets divide may be giving way to a new one: AI/Tech vs. non-AI/Tech.

Among international investors, the level of bullishness on U.S. equities was striking. Even Nouriel Roubini — long known as “Dr. Doom” — is now firmly in the bull camp. Brazil’s upcoming election generated little discussion among foreign attendees.
When asked about the ongoing foreign outflow from the Brazilian equity market, the answer came down to a few compounding factors: foreign investors had already made their Brazil allocation; with AI themes accelerating, attention is rotating back to U.S. tech. The Brazilian market had delivered solid equity and BRL performance, creating room for profit-taking. Rates remain elevated with limited expectations for cuts. And while the U.S. earnings season has been exceptionally strong, Brazil’s has been underwhelming. In that context, the narrative to rotate capital back toward U.S. Tech practically writes itself.

Itaú BBA Next 100 Years: Starting the Week Right

The week opened with Itaú BBA Next 100 Years — and it set the tone immediately. A day packed with unmissable conversations. Closed to the press, with over 400 people in attendance, the room had a rare quality: candor. A few quotes from the speakers that stayed with me:
“Arrogance kills.” — Scott Nuttall, CEO, KKR
“People do business with people they like and trust.” — Scott Nuttall, CEO, KKR
“Probably the industry that created AI — the tech industry — is the first to be disrupted.” — Mike Sicilia, CEO, Oracle
“The NFL is ultimately a leadership organization.” — Roger Goodell, Commissioner, NFL
“If WhatsApp stops, you have a direct impact on the GDP of Brazil. The country was built on mobile.” — Cristiano Amon, CEO, Qualcomm
“The dignity of life depends on the dignity of work — because we live in scarcity.” — Nouriel Roubini, Economist

An honor and a privilege to be part of organizing this event.

Itau BBA CEO Conference: The 19th Edition

The CEO Conference needs no introduction — but the numbers still impress: its 19th edition, 137 companies represented, 120+ CEOs in the room, and approximately 500 senior investment managers and portfolio managers. It is one of the most concentrated gatherings of decision-makers anywhere in the world.
This year, two keynotes stood out beyond the market discussions.
Mike Pompeo, former U.S. Secretary of State, offered a leadership insight that landed with the audience: “If the leader spends the most time talking, it is likely that the team will not get into a great conclusion.” It’s a deceptively simple observation and one that resonates deeply in a room full of leaders.
Then came Lucas Pinheiro, with a line that hit on a more personal level: “I realized I was competing for someone else’s purpose, not my own.”
In a week filled with macro data and market narratives, moments like this one are perhaps the most valuable of all.

Sports Summit: A First

It is no coincidence that sports showed up as a recurring theme throughout the week — Roger Goodell on the NFL as a leadership organization, Pompeo’s reflections on competition and purpose, Lucas Pinheiro’s journey of realignment. Sports and leadership are deeply intertwined languages. And this year, for the first time, we made that connection explicit: we hosted our first-ever Sports Summit as part of Itaú Week. A natural extension of conversations that were already happening organically — and one that I hope becomes a fixture of the week going forward.

Tech Summit: Enter, Neospace, and the AI Moment

I was honored to moderate the panel featuring Enter and Neospace at the Tech Summit this year — and it was, without question, the best edition I have been part of.
Mateus Costa-Ribeiro, CEO of Enter — Brazil’s first AI unicorn and Latin America’s first AI company to reach a $1.2 billion valuation, tripling in value in less than a year with a $100M round led by Peter Thiel’s Founders Fund alongside Sequoia Capital — offered a line that captured the moment perfectly: it is raining and pouring in AI. In the best possible way. The message for builders: move fast, build now, the window is open.

Bruno Pierobon, formerly CEO of Zup (acquired by Itaú in 2019) and now leading Neospace — offered a longer-term vision: in the future, we will resolve everything through LLMs, much the same way the internet eventually became the infrastructure for everything. It is not a question of if, but of when and how fast.

These two cases together reinforce something important: Brazil has the talent, the market scale, and the execution quality to be a genuine global player in AI. And Itaú — through initiatives like Cubo Itaú and this event which is already in its 6th edition — continues to be the institution that most consistently amplifies and enables that ecosystem.

Until Next Year

Itaú Week in New York is a week I genuinely love. It is intellectually stimulating, humanly rich, and a reminder of why — even in an age of algorithms and automation — the most important infrastructure is still the connections between people.
I am deeply honored to take part in organizing these events, and even more honored by the trust of the speakers, attendees, and partners who make the week what it is.
Already looking forward to 2027. 🙌

General news:

• Enjoei approved the shutdown of Elo7 after the marketplace struggled to compete with larger e-commerce platforms such as Mercado Livre and OLX. Once considered Brazil’s version of Etsy, Elo7 saw revenue decline sharply amid rising customer acquisition costs and scale disadvantages. 🇧🇷

• Savings.Club is adapting Brazil’s consortium model to the U.S. market, targeting Brazilian and Latino consumers seeking alternatives to high-interest financing. The fintech developed an AI-based system to replace traditional consortium mechanisms with a risk-driven ranking model tailored to U.S. regulations. 🇺🇸

• Wise began trading on Nasdaq while maintaining its London listing, reinforcing its expansion strategy in U.S. capital markets. The fintech processed $243B in cross-border volume in fiscal 2026 and continues positioning itself against traditional banking fees and inefficiencies. 🇬🇧

• VEF appointed Will Pruett and Torun Litzén to its board as the investment firm strengthens expertise in fintech, emerging markets and capital markets strategy. The appointments follow the departure of co-founder Per Brilioth after more than a decade on the board. 🌎

• Google Cloud is positioning São Paulo and Mexico City as global AI hubs, expanding investments and local hiring across Latin America. The company plans to increase engagement with founders and investors as confidence in the region’s AI ecosystem grows. 🌎

• Headline is preparing a new fund targeting $100M–$200M as it increases focus on AI-driven startups and expands its LP base. The firm highlighted strong returns from previous funds while continuing to deploy capital across Latin America. 🇧🇷

Deals:

• Selbetti acquired Zecode Technology, strengthening its enterprise automation and operational technology ecosystem. The acquisition adds capabilities in data capture, barcode readers and retail IT services as Selbetti targets R$1B in revenue by 2027. 🇧🇷

• Constr Up joined Vellore Ventures’ portfolio and expects to receive a R$5M investment to scale its AI-powered platform for construction material retailers. The startup automates sales, customer service and product management through WhatsApp-based AI assistants. 🇧🇷

• Carvajal Digital partnered with Kamin to integrate electronic invoicing with instant payments infrastructure in Colombia. The partnership enables businesses to convert invoices into cash within seconds while improving treasury and cash flow management. 🇨🇴

General news:

• Latin American startups raised $534M in equity funding in April, marking the strongest month for venture capital in the region so far in 2026. Mexico led in funding volume driven by Plata Card’s Series C, while Brazil continued dominating overall capital flows including debt and FIDC structures. 🌎

• Unolife is expanding beyond online therapy into physical wellness products as part of a broader ecosystem strategy combining mental health subscriptions, corporate wellbeing and self-care products. The startup expects new offerings to help drive revenue toward R$1M in 2026. 🇧🇷

• Anthropic expanded Claude for Legal with 12 specialized legal AI plugins and integrations with platforms such as Microsoft 365, DocuSign and Westlaw. The launch reinforces accelerating competition in AI-driven legal infrastructure. 🇺🇸

• Brazil’s Central Bank disclosed another Pix-related security incident involving 46 Pix keys exposed due to system failures at Credit Sociedade de Crédito Direto. No sensitive financial data was compromised, but the case adds pressure for tighter cybersecurity oversight in Brazil’s instant payments ecosystem. 🇧🇷

• Bemobi reported 33% net revenue growth in Q1 2026, reaching R$222M, driven mainly by strong expansion in its payments business. The company continues increasing investments in payments infrastructure and AI as SaaS and payments account for around 70% of operations. 🇧🇷

Deals:

• Franq raised a $12.4M Series B led by Valor Capital, Quona and Globo Ventures to scale its platform for independent financial advisors. The fintech aggregates products from more than 50 institutions and plans to expand AI automation across operations. 🇧🇷

General news:

• Itaú BBA gathered founders and investors in New York to discuss global scaling strategies, with companies such as Enter, iFood and Nuvemshop emphasizing product execution, proprietary data and AI as key drivers for building global businesses from Latin America. 🇺🇸

• A Mercado Bitcoin and Opinion Box survey found that nearly half of Brazilian crypto investors still use savings accounts, highlighting a cautious investment profile even among digital asset holders. The study also showed rising interest in crypto among younger Brazilians. 🇧🇷

• Brazil’s antitrust authority CADE dismissed investigations into AI-related deals involving Microsoft, Nvidia and Google, concluding the operations did not pose significant competitive risks in Brazil. The decision reflects growing regulatory attention on AI markets while signaling limited local intervention for now. 🇧🇷

• Oracle NetSuite announced new AI-focused investments in Brazil aimed at automating workflows and integrating enterprise data through its cloud ERP platform. The company is expanding local capabilities around tax automation, compliance and banking integrations. 🇧🇷

• WhatsApp began rolling out a private mode for Meta AI conversations that prevents message storage and automatically deletes chats after interactions end. The feature comes as Meta expands AI integration across WhatsApp amid rising privacy scrutiny. 🌎

• Leadsales launched Lead Agent for AI-driven conversational commerce, introducing the concept of “Vibe Selling” for WhatsApp and social media sales. The platform allows AI agents to autonomously qualify leads and manage conversations across channels. 🌎

• LinkedIn is preparing a new round of layoffs affecting around 5% of its workforce as Microsoft reallocates resources toward AI infrastructure and automation. Despite the restructuring, LinkedIn continues posting strong revenue growth of 12% YoY. 🇺🇸

• SoftBank’s Vision Fund posted a $46B annual gain largely driven by OpenAI’s appreciation, reigniting Masayoshi Son’s AI strategy. However, the growing concentration around OpenAI has raised concerns among investors and rating agencies. 🇯🇵

Deals:

• Visma acquired Brazilian SaaS companies Dootax and Pag Útil to strengthen its tax automation and payment orchestration capabilities ahead of Brazil’s tax reform. The acquisitions expand Visma’s presence in SME infrastructure and compliance software. 🇧🇷

• PagBrasil and Fintalk partnered to integrate conversational AI into e-commerce payments through WhatsApp-based checkout flows. The solution combines AI-driven customer interactions with Pix and card payments directly inside chats. 🇧🇷

General news:

• Klarna returned to profitability in Q1 2026, posting $17M in profit with revenue surpassing $1B and GMV reaching $33.7B. The results reinforce continued expansion of the BNPL market amid strong consumer adoption in the U.S. 🇸🇪

• Cisco will cut around 4,000 jobs as it reallocates investments toward AI infrastructure, security and networking technologies. The company raised its annual AI revenue forecast to $4B following accelerating demand from hyperscalers. 🇺🇸

• Jeeves launched operations in Argentina and appointed Federico Javin to lead its stablecoin strategy as it targets over $500M in annualized processing volume. The fintech is betting on Argentina’s rapid adoption of digital dollars and crypto-based financial infrastructure. 🇦🇷

• Banco do Brasil is expanding its CVC strategy with two new funds totaling over R$250M focused on fintechs, agtechs, govtechs and ESG startups. The bank aims to deepen startup integration and increase exposure to later-stage investments. 🇧🇷

Deals:

• Azara Capital announced the acquisition of fintechs Naskar, 7Trust and Next in a deal valued at roughly R$1.2B amid investigations into alleged fraud involving Naskar. The transaction comes as investors face potential losses approaching R$1B and regulators intensify scrutiny over unauthorized financial operations. 🇧🇷

General news:

• Pitz officially launched operations in Brazil with an AI-powered platform designed to digitalize automotive repair shops through diagnostics, logistics and management tools. The startup has already connected more than 1,400 repair shops and sees Brazil as a strategic validation market before expanding to the U.S. 🇧🇷

• Caixa Econômica Federal disclosed that cyberattacks on Caixa Tem generated around R$20M in losses in 2025 as the bank increases cybersecurity investments to R$5.9B in 2026. The case reflects growing concerns around digital banking and Pix infrastructure security in Brazil. 🇧🇷

• Binance said its AI-powered systems prevented $10.5B in potential fraud losses between early 2025 and March 2026. The company expanded AI usage across fraud detection, KYC and transaction monitoring as crypto platforms face increasing cybersecurity challenges. 🌎

Deals:

• iFood acquired a minority stake in Daki to accelerate expansion in online grocery delivery. The partnership strengthens iFood’s position in Brazil’s digital grocery market as Daki approaches R$1B in annualized revenue. 🇧🇷

• Atech raised an $800K pre-seed round backed by Lovable, the a16z Scout Fund and Sequoia Scout Fund to bring “vibe coding” into hardware development. The platform enables users to create hardware prototypes through natural language prompts. 🇺🇸

• Aimirim raised R$10M led by Indicator Capital and SP Ventures to expand its industrial AI and edge computing platform Tupana. The company helps industrial clients modernize legacy systems without replacing machinery. 🇧🇷

• Sandwiche raised a R$1.5M seed round led by Bossa Invest and Raio Capital to expand its AI-powered creator marketing platform. The startup focuses on nano and micro influencers and already serves brands including Mastercard and General Motors. 🇧🇷

• CorpX and MT Pagamentos announced a merger creating a digital banking and Pix infrastructure platform processing more than 15M Pix transactions daily. The combined operation targets retail, sub-acquiring and B2B partnerships across Brazil’s payments ecosystem. 🇧🇷

One AI launch that really caught my attention this week was OpenAI’s new personal finance experience in ChatGPT, released on May 15 for Pro users in the US. Users can now securely connect bank accounts, credit cards, investment portfolios, and liabilities through Plaid, allowing ChatGPT to analyze spending habits, subscriptions, savings patterns, and broader financial behavior in real time.

In practice, this means the model is evolving from simply answering financial questions into acting more like a true financial copilot — helping users budget, understand trade-offs, monitor cash flow, and potentially make better financial decisions based on their actual data and context. The broader implication here is massive: AI is starting to move beyond productivity and into highly sensitive verticals where trust, personalization, and automation matter most. Finance may become one of the clearest examples of how AI agents eventually evolve into real operating layers for everyday life.

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Date: May 26–June 1, 2026
Location: Rio de Janeiro, Brazil
Description: A creativity-driven event connecting technology, media, audiovisual, music, sustainability, and entrepreneurship.
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South Summit Madrid 2026
Date: June 3–5, 2026
Location: Madrid, Spain
Description: A global innovation conference connecting startups seeking scale with investors and corporations looking for new opportunities.
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Money20/20 Europe 2026
Date: June 2–4, 2026
Location: Amsterdam, Netherlands
Description: One of the world’s leading fintech and financial services conferences, gathering global banks, fintechs, investors, regulators, and technology companies to discuss the future of payments, banking, AI, embedded finance, and digital assets.
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Web Summit Rio 2026
Date: June 8–11, 2026
Location: Rio de Janeiro, Brazil
Description: Part of the Web Summit global series, the event connects startups, investors, and tech leaders across Latin America.
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Febraban Tech 2026
Date: June 24–26, 2026
Location: São Paulo, Brazil
Description: One of the main financial technology and innovation events for the banking and financial services sector in Latin America.
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