Nuked 
Hey everyone, Nuked here! Today I’ve got an exciting scoop on Latin America’s fastest-growing startups. Let’s dive into the region’s biggest tech winners that are changing the game across borders.
Once thought of as mythical beasts, some Latin American startups have now hit billion-dollar valuations, thanks to cross-border ambitions and regional innovation. Nubank, for example, went public in the US, making headlines worldwide. But the region’s startup scene isn’t just about fintech; e-commerce, health tech, logistics, proptech, and SaaS are also booming.
While Brazil and Mexico lead with the most unicorns, Argentina, Colombia, Chile, and Uruguay aren’t far behind, creating vibrant eco-systems. Here’s a closer look at the top Latin American unicorns by valuation. Keep in mind, some older valuations might be a bit optimistic, but these companies are worth watching.
Rappi, founded in Colombia in 2015, is valued at $5.25 billion. It started as a delivery platform and turned into a super app, expanding across multiple countries. Before the pandemic, it raised over $500 million from SoftBank and has been navigating tricky waters recently, including layoffs and changing gig economy laws in Mexico. Still, Rappi aims for an IPO and even hired a CFO to prepare for that.
Brazil’s QuintoAndar, a proptech firm launched in 2012, is valued at $5.1 billion. It leads in rental and property sales tech, operating in several Latin American countries and beyond, with notable acquisitions and growth. Creditas, another Brazilian fintech, reached $4.8 billion with a focus on loans and consumer credit. Nuvemshop, known as Tiendanube in some markets, is Latin America’s Shopify, valued at $3.1 billion, empowering SMBs across the region.
Wildlife Studios, one of Brazil’s mobile gaming giants, hit nearly $3 billion valuation in 2020, but has faced some rocky times with high valuations and layoffs. Loft, a proptech startup, reached $2.9 billion, despite market challenges. Meanwhile, Unico, a SaaS and ID tech leader, is valued at $2.6 billion, with heavy backing from Goldman Sachs and others.
Other notable players include C6 Bank, a digital bank in Brazil valued at $2.28 billion; Kavak from Mexico, a used-car marketplace that saw its valuation drop to $2.2 billion after expansion setbacks; and Bitso, a crypto exchange valued at $2.2 billion, facilitating cross-border payments. CloudWalk, a payment infrastructure firm, is valued at $2.15 billion, and Clip, a fintech POS innovator from Mexico, is at $2 billion.
Brazilian logistics company Loggi is close to $2 billion, focusing on last-mile delivery. These companies reflect Latin America’s diverse startup ecosystem, built on vibrant hubs in Brazil, Mexico, Argentina, Colombia, Chile, and Uruguay. They demonstrate resilience and ambition, aiming for more growth and potential IPOs in the coming years.
That’s a quick look at the giants shaping Latin America’s startup landscape. Who knows? Maybe we’ll be hearing even more about these companies in the future. Stay tuned, everyone!
