Not long ago, the emergence of public tech companies from Latin America was considered unlikely. Mercado Libre was once unique, likened to an elusive unicorn. Today, the region boasts numerous startups with billion-dollar valuations.
Several of these startups have gained international recognition through cross-border expansion, with Nubank notably going public in the U.S.
A broader group of Latin American scale-ups also warrants attention, covering sectors such as fintech, e-commerce, health tech, logistics, proptech, and SaaS. Some of these unicorns hold "paper valuations" from fundraising peaks in 2021 but remain significant as venture capital in Latin America shows resilience.
These unicorns reflect multiple Latin American startup hubs. Brazil and Mexico lead in numbers, but unicorns also emerge from Argentina, Colombia, Chile, and Uruguay.
Rappi (2015): $5.25 Billion Valuation in July 2021
Rappi, a Colombian on-demand delivery platform, has expanded into a super app across multiple countries. Its rise was solidified with a $1 billion investment from SoftBank in 2019. By July 2021, it secured more than $500 million, reaching a $5.25 billion valuation. Despite challenges such as layoffs and regulatory changes in Mexico, Rappi plans a $110 million investment to boost Mexican operations and aims for an IPO, having reached break-even in late 2023.
QuintoAndar (2012): $5.1 Billion Valuation in August 2021
QuintoAndar, a Brazilian proptech company, operates in six Latin American countries and Europe. It has grown significantly, with over 3,500 employees. In 2021, after raising a $300 million Series E at a $4 billion valuation, it secured an additional $120 million at a $5.1 billion valuation. Its investors include Kaszek, General Atlantic, SoftBank, and Tencent.
Creditas (2012): $4.8 Billion Valuation in January 2022
Brazilian fintech Creditas specializes in consumer credit. Its $260 million Series F in January 2022 valued it at $4.8 billion, led by Fidelity along with Kaszek Ventures, QED Investors, and SoftBank. The round was extended at the same valuation in July 2022, facilitating the purchase of Andbank’s Brazilian license.
Nuvemshop (2011): $3.1 Billion Valuation in August 2021
Nuvemshop, also known as Tiendanube, is a Brazilian e-commerce platform likened to Shopify for Latin America. Valued at $3.1 billion in August 2021, it secured $500 million in a Series E led by Insight Partners and Tiger Global Management.
Wildlife Studios (2011): ~$3 Billion Valuation in August 2020
Brazilian mobile gaming company Wildlife Studios was valued at nearly $3 billion from its Series B. Co-founded by Victor Lazarte, who later became a general partner at Benchmark, the company faced restructuring and leadership changes in 2023.
Loft (2018): $2.9 Billion Valuation in April 2021
Loft, a Brazilian proptech company, has strong backing from Silicon Valley. Its Series D in March 2021, led by D1 Capital Partners, valued the company at $2.9 billion. Despite layoffs, it achieved break-even in 2023 with Middle Eastern sovereign fund investment.
Unico (2007): $2.6 Billion Valuation in April 2022
Unico, a Brazilian ID tech startup, reached a $2.6 billion valuation with a $100 million Series D led by Goldman Sachs in April 2022, with existing investors like General Atlantic and SoftBank.
C6 Bank (2018): $2.28 Billion Valuation in December 2020
Brazilian digital bank C6 has not expanded beyond its home market. JPMorgan Chase acquired a significant stake, contributing to its first profitable year in 2024.
Kavak (2016): $2.2 Billion Valuation in April 2025
Mexican platform Kavak, specializing in used car sales, saw its valuation drop to $2.2 billion in 2025 due to expansion challenges. The company is positioning for a potential IPO within a few years.
Bitso (2014): $2.2 Billion Valuation in May 2021
Bitso, a cryptocurrency exchange focused on cross-border payments, secured a $250 million Series C in May 2021, reaching a $2.2 billion valuation.
CloudWalk (2013): $2.15 Billion Valuation in November 2021
Brazilian payment infrastructure company CloudWalk raised $150 million in a Series C led by Coatue. It reported profitability in 2023 and significant revenue in 2024.
Clip (2012): $2 Billion Valuation in June 2024
Mexican fintech Clip, known for its POS devices, maintained its standing as a unicorn following a $250 million round in 2021. A $100 million round in 2024 confirmed its $2 billion valuation as it neared profitability.
Loggi (2013): ~$2 Billion Valuation in March 2021
Loggi, a Brazilian logistics company with a focus on last-mile delivery, was valued near $2 billion in a Series F led by CapSur Capital in March 2021.
