Not so way back, the thought of public tech firms rising from Latin America appeared far-fetched, and Mercado Libre as soon as appeared as uncommon and legendary as a real unicorn. Today, nevertheless, the area is residence to a number of startups which have reached billion-dollar valuations.
Some of those startups, propelled into the highlight by cross-border growth, are actually acknowledged past their residence international locations, with Nubank notably going public within the U.S.
Yet, there’s a broader cohort of Latin American scale-ups that deserve consideration; many in fintech, however not solely. Other essential sectors embrace e-commerce, well being tech, logistics, proptech, and Software as a Service.
Some homegrown unicorns might at the moment maintain “paper valuations” from rounds that had been raised in the course of the 2021 peak, however the level nonetheless stands: They are value understanding, and lots of may recuperate alongside the market, as VC funding in Latin America demonstrated resilience in 2024.
As a gaggle, these unicorns additionally replicate Latin America’s a number of startup hubs. While 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 have a look at the highest Latin American unicorns by valuation — though the oldest value tags usually must be taken with a grain of salt.
Rappi (2015): Valued at $5.25 billion in July 2021
Coming out of Colombia, Rappi is an on-demand supply platform that turned a brilliant app and expanded into a number of international locations.
Its rise solidified earlier than the pandemic: In 2019, it raised a $1 billion funding from DelicateBank. But its $5.25 billion valuation was hooked up to the spherical of greater than $500 million it secured in July 2021.
Since then, Rappi has operated in a tougher surroundings, conducting a number of rounds of layoffs and going through altering gig economic system laws in Mexico, the place it now plans to take a position $110 million to spice up its operations. However, the corporate nonetheless very a lot hopes to Initial Public Offering and employed 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 centered on the rental and sale of residential actual property. With industrial actions in six Latin American international locations and a tech hub in Europe, it made a number of acquisitions and grew into a gaggle with a headcount of greater than 3,500 folks.
In 2021, the startup was busy on the fundraising entrance: Less than three months after saying a $300 million Series 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 consists of Kaszek, General Atlantic, DelicateBank, 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 Series F in January 2022 valuing the Brazilian lender at $4.8 billion, up from $1.75 billion in December 2020.
The Series F was led by Fidelity, with participation from new and current backers, together with Kaszek Ventures, QED Investors, and DelicateBank. It was 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 entrepreneurs to promote services and products on-line — or in brief, “Latin America’s reply to Shopify.”
Its newest recognized valuation of $3.1 billion comes from the $500 million Series E mega-round co-led by Insight Partners and Tiger Global Management that it raised in August 2021, just a few 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 basic companion at Benchmark, the VC agency that led Wildlife Studios’ $60 million Series A in 2019 at a $1.3 billion valuation. Less than a 12 months later, the startup reached an almost $3 billion valuation from its Series B spherical.
In a candid dialog onstage at Slush 2023, Lazarte mentioned 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 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 firm supported by huge Silicon Valley names since its genesis in 2018.
Loft’s $175 million Series C was co-led by a16z and Vulcan Capital in 2020. A $425 million Series D led by New York-based D1 Capital Partners 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 spherical in November 2022. In 2023, after contemporary funding from a sovereign fund within 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 one among Latin America’s largest Software as a Service firms.
Its $2.6 billion valuation is newer than many on this listing. It got here from the $100 million Series D the corporate raised in April 2022. The spherical was led by Goldman Sachs, with participation from current traders General Atlantic and DelicateBank Latin America Fund.
C6 Bank (2018): Valued at $2.28 billion in December 2020
C6 Bank is a Brazilian digital financial institution. Unlike some rivals, it hasn’t expanded past Brazil, the place it has greater than 35 million purchasers.
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 growing its stake in 2023, it now owns 46% of C6, which had its first-ever worthwhile 12 months in 2024.
Kavak (2016): Valued at $2.2 billion in April 2025
With backers together with General Catalyst and DelicateBank, Kavak is a Mexico-based e-commerce platform to purchase and promote used vehicles on-line.
Once valued at $8.7 billion after a Series 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 Initial Public Offering inside the subsequent three to 5 years.
Bitso (2014): Valued at $2.2 billion in May 2021
Bitso is a Latin American cryptocurrency trade that additionally facilitates cross-border funds.
In May 2021, it secured a $250 million Series C spherical valuing the corporate at $2.2 billion and co-led by Tiger Global and Coatue, with participation from new and current traders, together with Kaszek and QED.
CloudWalk (2013): Valued at $2.15 billion in November 2021
Known for its InfinitePay and Jim.com manufacturers, CloudWalk is a Brazilian fee infrastructure firm (to not be confused with the Chinese facial-recognition software program firm by the identical identify).
CloudWalk’s $2.15 billion valuation resulted from a $150 million Series 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 income.
Clip (2012): Valued at $2 billion in June 2024
Briefly referred to as BlitzPay and based by former PayPal staff, Clip is the Square of Latin America, with POS gadgets and fintech options for companies.
Clip turned a unicorn in 2021 following a $250 million spherical led by DelicateBank 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 informed Bloomberg.
Loggi (2013): Valued at ~$2 billion in March 2021
Loggi is a Brazil-based logistics firm recognized for its concentrate on last-mile supply.
Its backers embrace Monashees, Qualcomm Ventures, and DelicateBank. 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 might be part of the listing and the way the rankings may be reordered, so we’ll ensure to maintain it up to date.
