Not so way back, the concept of public tech corporations rising from Latin America appeared far-fetched, and Mercado Libre as soon as appeared as uncommon and legendary as a real unicorn. In the present day, nevertheless, the area is dwelling to a number of startups which have reached billion-dollar valuations.
A few of these startups, propelled into the highlight by cross-border growth, at the moment are acknowledged past their dwelling international locations, with Nubank notably going public in the U.S.
But, there’s a broader cohort of Latin American scale-ups that deserve consideration; many in fintech, however not completely. Different vital sectors embody e-commerce, well being tech, logistics, proptech, and SaaS.
Some homegrown unicorns might at the moment maintain “paper valuations” from rounds that had been raised through the 2021 peak, however the level nonetheless stands: They’re price realizing, and lots of might get well alongside the market, as VC funding in Latin America demonstrated resilience in 2024.
As a bunch, these unicorns additionally mirror Latin America’s a number of startup hubs. Whereas Brazil and Mexico stay leaders in numbers, unicorns have additionally emerged from Argentina, Colombia, Chile, and Uruguay, additional strengthening these ecosystems.
Let’s take a more in-depth take a look at the highest Latin American unicorns by valuation — though the oldest value tags typically should be taken with 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 grew to become a super app and expanded into a number of international locations.
Its rise solidified earlier than the pandemic: In 2019, it raised a $1 billion investment from SoftBank. However its $5.25 billion valuation was connected to the round of more than $500 million it secured in July 2021.
Since then, Rappi has operated in a more difficult surroundings, conducting a number of rounds of layoffs and going through altering gig economy legislation in Mexico, the place it now plans to invest $110 million to spice up its operations. Nevertheless, the corporate nonetheless very much hopes to IPO and hired a CFO to arrange for that endeavor after reaching break-even for the primary time in late 2023.
QuintoAndar (2012): Valued at $5.1 billion in August 2021
QuintoAndar is a Brazilian proptech firm targeted on the rental and sale of residential actual property. With industrial actions in six Latin American countries and a tech hub in Europe, it made a number of acquisitions and grew into a bunch with a headcount of greater than 3,500 individuals.
In 2021, the startup was busy on the fundraising entrance: Lower than three months after asserting a $300 million Series E at a $4 billion valuation, QuintoAndar raised a further $120 million at a $5.1 billion valuation. With $755 million raised so far, its cap desk consists of Kaszek, Common Atlantic, SoftBank, and Tencent.
Creditas (2012): Valued at $4.8 billion in January 2022
Creditas is a Brazilian fintech participant specializing in loans, together with client credit score.
Its newest spherical of funding was a $260 million Sequence F in January 2022 valuing the Brazilian lender at $4.8 billion, up from $1.75 billion in December 2020.
The Sequence F was led by Constancy, with participation from new and present backers, together with Kaszek Ventures, QED Traders, and SoftBank. It was extended in July 2022 on the similar valuation, permitting Creditas to buy the Brazilian license of Andorran bank 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 entrepreneurs to promote services on-line — or briefly, “Latin America’s answer to Shopify.”
Its newest recognized valuation of $3.1 billion comes from the $500 million Series E mega-round co-led by Perception Companions and Tiger World Administration that it raised in August 2021, only some months after its Accel-led $90 million Series D.
Wildlife Studios (2011): Valued at ~$3 billion in August 2020
Wildlife Studios is a Brazilian cell gaming firm.
It was co-founded by Victor Lazarte, now additionally a normal accomplice at Benchmark, the VC agency that led Wildlife Studios’ $60 million Series A in 2019 at a $1.3 billion valuation. Lower than a 12 months later, the startup reached a nearly $3 billion valuation from its Sequence B spherical.
In a candid dialog onstage at Slush 2023, Lazarte stated that, on reflection, elevating an excessive amount of capital at too excessive a valuation so quick was a “mistake.” In June 2023, the corporate introduced that former Amazon govt Peter Hill would replace Lazarte as CEO. It additionally carried out several rounds of layoffs.
Loft (2018): Valued at $2.9 billion in April 2021
Loft is a Brazilian proptech firm supported by big Silicon Valley names since its genesis in 2018.
Loft’s $175 million Sequence C was co-led by a16z and Vulcan Capital in 2020. A $425 million Sequence D led by New York-based D1 Capital Companions adopted in March 2021, and its extension in April 2021 valued the corporate at $2.9 billion.
The digital actual property platform wasn’t resistant to the market flip. It carried out two rounds of layoffs in 2022 however denied having raised a down round in November 2022. In 2023, after recent funding from a sovereign fund in the Middle East” at an undisclosed valuation and one other spherical 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 certainly one of Latin America’s largest SaaS corporations.
Its $2.6 billion valuation is more moderen than many on this checklist. It got here from the $100 million Sequence D the corporate raised in April 2022. The spherical was led by Goldman Sachs, with participation from present buyers Common Atlantic and SoftBank Latin America Fund.
C6 Financial institution (2018): Valued at $2.28 billion in December 2020
C6 Financial institution is a Brazilian digital financial institution. Not like some rivals, it hasn’t expanded past Brazil, the place it has greater than 35 million shoppers.
C6 was valued at $2.28 billion in December 2020, six months earlier than JPMorgan Chase acquired 40% possession of the neobank in 2021. After increasing its stake in 2023, it now owns 46% of C6, which had its first-ever profitable year in 2024.
Kavak (2016): Valued at $2.2 billion in April 2025
With backers together with Common Catalyst and SoftBank, Kavak is a Mexico-based e-commerce platform to purchase and promote used automobiles on-line.
As soon as valued at $8.7 billion after a Sequence E spherical that doubled its valuation in 2021, Kavak noticed its valuation slashed by $6.5 billion following growth difficulties and layoffs. After elevating a $127 million fairness spherical and securing two $200 million debt amenities in March 2025, the corporate goals to place itself for a possible IPO inside the subsequent three to 5 years.
Bitso (2014): Valued at $2.2 billion in Might 2021
Bitso is a Latin American cryptocurrency trade that additionally facilitates cross-border funds.
In Might 2021, it secured a $250 million Sequence C spherical valuing the corporate at $2.2 billion and co-led by Tiger World and Coatue, with participation from new and present buyers, 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 cost infrastructure firm (to not be confused with the Chinese facial-recognition software company by the identical identify).
CloudWalk’s $2.15 billion valuation resulted from a $150 million Sequence C led by Coatue in November 2021. Since then, CloudWalk achieved its first full 12 months of profitability in 2023 and closed 2024 with $497 million in revenue.
Clip (2012): Valued at $2 billion in June 2024
Briefly generally known as BlitzPay and based by former PayPal employees, Clip is the Square of Latin America, with POS gadgets and fintech options for companies.
Clip grew to become a unicorn in 2021 following a $250 million round led by SoftBank and Viking, and maintained this standing since then. The $100 million spherical it raised in June 2024 confirmed its $2 billion valuation as the corporate was “getting ready to profitability,” its CEO told Bloomberg.
Loggi (2013): Valued at ~$2 billion in March 2021
Loggi is a Brazil-based logistics firm recognized for its focus on last-mile delivery.
Its backers embody Monashees, Qualcomm Ventures, and SoftBank. Its newest funding spherical was a $205 million Series F led by CapSur Capital in March 2021 at a valuation near $2 billion.
Bets are nonetheless open on who may join the list and the way the rankings is likely to be reordered, so we’ll ensure to maintain it up to date.
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