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No longer goodbye in the past, the theory of public tech firms rising from Latin The united states appeared far-fetched, and Mercado Libre as soon as seemed as uncommon and legendary as a real unicorn. Nowadays, then again, the area is house to a number of startups that experience reached billion-dollar valuations.
A few of these startups, propelled into the highlight by means of cross-border growth, at the moment are identified past their house international locations, with Nubank particularly going public within the U.S.
But, there’s a broader cohort of Latin American scale-ups that deserve consideration; many in fintech, however now not solely. Different essential sectors come with e-commerce, well being tech, logistics, proptech, and SaaS.
Some homegrown unicorns might these days hang “paper valuations” from rounds that had been raised throughout the 2021 height, however the level nonetheless stands: They’re price figuring out, and plenty of may just get better along the marketplace, as VC funding in Latin The united states demonstrated resilience in 2024.
As a bunch, those unicorns additionally replicate Latin The united states’s a couple of startup hubs. Whilst Brazil and Mexico stay leaders in numbers, unicorns have additionally emerged from Argentina, Colombia, Chile, and Uruguay, additional strengthening those ecosystems.
Let’s take a more in-depth have a look at the highest Latin American unicorns by means of valuation — despite the fact that the oldest value tags ceaselessly want to be interested in a grain of salt.
Rappi (2015): Valued at $5.25 billion in July 2021
Popping out of Colombia, Rappi is an on-demand supply platform that turned into a great app and expanded into a couple of international locations.
Its upward thrust solidified ahead of the pandemic: In 2019, it raised a $1 billion funding from SoftBank. However its $5.25 billion valuation used to be connected to the around of greater than $500 million it secured in July 2021.
Since then, Rappi has operated in a more difficult surroundings, carrying out a couple of rounds of layoffs and going through converting gig financial system regulation in Mexico, the place it now plans to make investments $110 million to spice up its operations. Alternatively, the corporate nonetheless very a lot hopes to IPO and employed a CFO to organize for that undertaking after attaining break-even for the primary time in overdue 2023.
QuintoAndar (2012): Valued at $5.1 billion in August 2021
QuintoAndar is a Brazilian proptech corporate targeted at the apartment and sale of residential actual property. With industrial actions in six Latin American international locations and generation-hub-outside-brazil-in-portugal/”>a tech hub in Europe, it made a number of acquisitions and grew into a bunch with a headcount of greater than 3,500 other folks.
In 2021, the startup used to be busy at the fundraising entrance: Not up to 3 months after pronouncing a $300 million Collection E at a $4 billion valuation, QuintoAndar raised an extra $120 million at a $5.1 billion valuation. With $755 million raised up to now, its cap desk comprises Kaszek, Basic Atlantic, SoftBank, and Tencent.
Creditas (2012): Valued at $4.8 billion in January 2022
Creditas is a Brazilian fintech participant that specialize in loans, together with shopper credit score.
Its newest around of investment used to be a $260 million Collection F in January 2022 valuing the Brazilian lender at $4.8 billion, up from $1.75 billion in December 2020.
The Collection F used to be led by means of Constancy, with participation from new and current backers, together with Kaszek Ventures, QED Traders, and SoftBank. It used to be prolonged in July 2022 on the identical valuation, permitting Creditas to purchase the Brazilian license of Andorran financial institution Andbank for some $93 million.
Nuvemshop (2011): Valued at $3.1 billion in August 2021
Branded as Tiendanube in Spanish-speaking markets, Nuvemshop is a Brazilian e-commerce platform designed for SMEs and marketers to promote services on-line — or briefly, “Latin The united states’s resolution to Shopify.”
Its newest identified valuation of $3.1 billion comes from the $500 million Collection E mega-round co-led by means of Perception Companions and Tiger World Control that it raised in August 2021, just a few months after its Accel-led $90 million Collection D.
Natural world Studios (2011): Valued at ~$3 billion in August 2020
Natural world Studios is a Brazilian cellular gaming corporate.
It used to be co-founded by means of Victor Lazarte, now additionally a basic spouse at Benchmark, the VC company that led Natural world Studios’ $60 million Collection A in 2019 at a $1.3 billion valuation. Not up to a 12 months later, the startup reached a just about $3 billion valuation from its Collection B around.
In a candid dialog onstage at Slush 2023, Lazarte mentioned that, looking back, elevating an excessive amount of capital at too top a valuation so rapid used to be a “mistake.” In June 2023, the corporate introduced that former Amazon government Peter Hill would change Lazarte as CEO. It additionally carried out a number of rounds of layoffs.
Loft (2018): Valued at $2.9 billion in April 2021
Loft is a Brazilian proptech corporate supported by means of giant Silicon Valley names since its genesis in 2018.
Loft’s $175 million Collection C used to be co-led by means of a16z and Vulcan Capital in 2020. A $425 million Collection D led by means of New York-based D1 Capital Companions adopted in March 2021, and its extension in April 2021 valued the corporate at $2.9 billion.
The virtual actual property platform wasn’t proof against the marketplace flip. It carried out two rounds of layoffs in 2022 however denied having raised a down around in November 2022. In 2023, after contemporary investment from a sovereign fund within the Heart East” at an undisclosed valuation and some other around of layoffs, it claimed to have reached break-even.
Unico (2007): Valued at $2.6 billion in April 2022
Unico is a Brazilian ID tech startup, and one in every of Latin The united states’s greatest SaaS firms.
Its $2.6 billion valuation is newer than many in this record. It got here from the $100 million Collection D the corporate raised in April 2022. The around used to be led by means of Goldman Sachs, with participation from current traders Basic Atlantic and SoftBank Latin The united states Fund.
C6 Financial institution (2018): Valued at $2.28 billion in December 2020
C6 Financial institution is a Brazilian virtual financial institution. Not like some competition, it hasn’t expanded past Brazil, the place it has greater than 35 million purchasers.
C6 used to be valued at $2.28 billion in December 2020, six months ahead of JPMorgan Chase got 40% possession of the neobank in 2021. After expanding its stake in 2023, it now owns 46% of C6, which had its first-ever winning 12 months in 2024.
Kavak (2016): Valued at $2.2 billion in April 2025
With backers together with Basic Catalyst and SoftBank, Kavak is a Mexico-based e-commerce platform to shop for and promote used automobiles on-line.
As soon as valued at $8.7 billion after a Collection E around that doubled its valuation in 2021, Kavak noticed its valuation slashed by means of $6.5 billion following growth difficulties and layoffs. After elevating a $127 million fairness around and securing two $200 million debt amenities in March 2025, the corporate goals to put itself for a possible IPO inside the subsequent 3 to 5 years.
Bitso (2014): Valued at $2.2 billion in Would possibly 2021
Bitso is a Latin American cryptocurrency change that still facilitates cross-border bills.
In Would possibly 2021, it secured a $250 million Collection C around valuing the corporate at $2.2 billion and co-led by means of Tiger World and Coatue, with participation from new and current traders, together with Kaszek and QED.
CloudWalk (2013): Valued at $2.15 billion in November 2021
Recognized for its InfinitePay and Jim.com manufacturers, CloudWalk is a Brazilian fee infrastructure corporate (to not be perplexed with the Chinese language facial-recognition instrument corporate by means of the similar identify).
CloudWalk’s $2.15 billion valuation resulted from a $150 million Collection C led by means of Coatue in November 2021. Since then, CloudWalk completed its first complete 12 months of profitability in 2023 and closed 2024 with $497 million in earnings.
Clip (2012): Valued at $2 billion in June 2024
In short referred to as BlitzPay and based by means of former PayPal staff, Clip is the Sq. of Latin The united states, with POS gadgets and fintech answers for companies.
Clip turned into a unicorn in 2021 following a $250 million around led by means of SoftBank and Viking, and maintained this standing since then. The $100 million around it raised in June 2024 showed its $2 billion valuation as the corporate used to be “on the point of profitability,” its CEO informed Bloomberg.
Loggi (2013): Valued at ~$2 billion in March 2021
Loggi is a Brazil-based logistics corporate identified for its focal point on last-mile supply.
Its backers come with Monashees, Qualcomm Ventures, and SoftBank. Its newest investment around used to be a $205 million Collection F led by means of CapSur Capital in March 2021 at a valuation on the subject of $2 billion.
Bets are nonetheless open on who might sign up for the record and the way the scores could be reordered, so we’ll you’ll want to stay it up to date.
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