Connect33 Newsletter | October 2025
Salesforce's $1 billion investment in Mexico, continued fintech expansion, the first Stargate project in LATAM, plus a conversation with Guillermo Ortega, President of Mexico Operations at Improving.
Hi readers, welcome to our latest update, covering Latin American software and technology trends, expansions, and mergers and acquisitions.
During October, we observed a billion-dollar investment in Mexico by Salesforce, continued fintech expansion, the first Stargate project in LATAM, plus an exclusive conversation with Guillermo Ortega on Mexico’s evolution into a nearshore powerhouse. ¡Vámonos!
Scaling Engineering Teams in LATAM: Our latest interview features Guillermo Ortega, President of Mexico Operations at Improving and co-founder of iTexico, who shares his remarkable 25-year entrepreneurial journey building and scaling tech companies across Mexico, the US, and Brazil. From co-founding Aportia, Mexico’s first IT consortium, to leading iTexico through its 2020 acquisition by Improving, Guillermo has been instrumental in elevating Mexican tech talent on the global stage.
As part of our Scaling Engineering Teams in LATAM series, Guillermo offers insights on the power of cross-border business partnerships, Mexico’s transformation into a premier nearshore destination, navigating M&A while maintaining growth momentum, and his advice for Latin American founders: find your local partner and focus on execution over perfect timing. Read the full interview.
“Mexico is probably the most pure nearshore concept as a business partner for the US. We’re trying to be business partners of our clients, not just service providers.”
1 big thing: Salesforce invests $1Bn USD in Mexico
Salesforce (NYSE: CRM), the cloud-based software company, announced a $1 billion investment in its Mexican operations over the next five years to expand technical capacity and service delivery, including a new office in Mexico City’s Polanco district for up to 2,000 employees housing a Global Delivery Centre that will provide multilingual consulting in English, Spanish, and Portuguese to support clients throughout the Americas with its Agentforce AI platform. (Reuters)
Why it matters: This represents one of the largest AI-focused service delivery investments in Latin America, positioning Mexico as a key consultancy hub for the region and demonstrating Salesforce’s commitment to scaling its ecosystem through workforce development and technical AI training.
The bigger picture: Salesforce’s strategy leverages Mexico’s geographic and linguistic advantages to serve the entire Americas market, with companies in Brazil, Chile, and Colombia already engaged with Agentforce and set to access expanded consulting services, underscoring Mexico's importance as a nearshore delivery hub.
What to watch: Following the recent acquisition of Regrello, a company with a local presence in Monterrey, this $1 billion commitment signals Salesforce views Latin America as critical to its agentic AI roadmap—expect additional acquisitions or partnerships in the region as the company builds out its AI service delivery infrastructure beyond Mexico.
Ness, a global full-lifecycle digital services transformation company, announced the inauguration of its Mexico headquarters in Guadalajara. (PRN)
SumUp, a global fintech company specializing in payment solutions for small and medium businesses, launched operations in Mexico to provide affordable card payment processing and business management tools to Mexican entrepreneurs and SMEs. (SumUp)
Brex, a US-based fintech company providing corporate credit cards and cash management services, expanded its presence in Brazil by moving into a larger São Paulo office with plans to grow its local team to 200 employees by year-end, with Brazil expected to account for 20% of Brex’s global workforce by 2026. (LatAm Tech)
NetSuite (NYSE: ORCL), Oracle’s cloud-based business management software platform, announced the general availability of its first data centers in Brazil, providing local hosting, improved performance, and enhanced compliance capabilities for Brazilian customers. (NetSuite)
Advent International, a global private equity firm, raised $2 billion for its LAPEF VII fund focused on Latin American private equity investments. (LAVCA)
Bitso, a leading Latin American cryptocurrency exchange, launched a global stock-investing platform that allows users to invest in US and international equities. (Mexico Business)
Nuvini, a leading serial acquirer specializing in consolidating SaaS companies across Latin America, signed a binding term sheet to acquire MK Solutions, Brazil’s leading ERP provider for internet service providers. (GlobeNewswire)
Globant (NYSE: GLOB), a global technology services company, entered into a multi-year strategic collaboration agreement with AWS to provide clients worldwide with enhanced support for cloud migrations, generative AI adoption, and industry-specific solutions across Latin America and beyond. (PR Newswire)
Ant International, the global payments and fintech arm of Ant Group, invested in Mexican fintech R2, which provides embedded lending infrastructure across Latin America. (Business Wire)
Syonet, a Brazilian software development company specializing in business management solutions, acquired Campos Dealer, a local technology firm providing CRM and management platforms for agricultural and heavy-machinery dealerships, expanding its presence in Brazil’s agribusiness technology sector. (LatAm Tech)
OpenAI, the global artificial intelligence company, signed a letter of intent with Sur Energy for a data center project in Argentina that could require up to $25 billion in investment, marking the first Stargate project in Latin America. (Reuters)
Babel, a Spanish-origin multinational technology company specializing in digital transformation solutions, acquired Meraki Software Technologies SAS, a Colombian technology firm focused on cutting-edge banking technologies. (Babel)
Revolut, the UK-based global fintech leader, received final regulatory approval from Mexico’s National Banking and Securities Commission to operate as a multiple banking institution in Mexico. (Bloomberg)
Valor Capital Group, a US-Brazilian venture and growth equity firm, opened a new office in Mexico City to strengthen its presence in Latin America and support its cross-border investment strategy. (Scenius)
Additional stories we’re following
Connect33 is a consulting firm specializing in helping US companies build, buy, and partner with Latin America’s top software development teams. Our list of companies we’ve scaled with includes mid-to-large enterprises such as Atrium, Bain & Company, Braze, C3 AI, EPAM, phdata, Tekton, and more.
LatAm-focused roles at top tech companies.
Algolia is hiring a Senior Enterprise Account Executive, LATAM
CrowdStrike is hiring a Corporate Sales Engineer, LATAM (Remote)
Datadog is hiring a Commercial Account Executive - LATAM (Spanish Speaking)
Databricks is hiring an Enterprise Sales, LATAM (Spanish-speaking)
Dataiku is hiring an Enterprise Account Executive, LATAM (Brazil)
Intercom is hiring a Senior Relationship Manager, Mid-Market (LATAM)