Not too long ago, public tech companies from Latin America felt almost mythical. Mercado Libre was one of the few shining stars. Fast forward to today, and the region now proudly hosts several billion-dollar startups making waves far beyond their home countries.
Startups like Nubank have even listed on U.S. stock markets, showing just how far the Latin American tech scene has come. Yet Nubank is only the tip of the iceberg. Across fintech, e-commerce, health tech, logistics, proptech, and SaaS, a new generation of Latin American unicorns is emerging.
While some valuations date back to the peak of 2021’s funding frenzy and should be taken with a grain of salt, these startups remain important players. Many are poised for a comeback as venture capital investment in Latin America showed resilience throughout 2024.
Brazil and Mexico continue to dominate the startup scene. However, unicorns have also risen from Argentina, Colombia, Chile, and Uruguay, proving that Latin America is a growing powerhouse for tech innovation.
Here’s a closer look at Latin America’s biggest startups by valuation:
Rappi – $5.25 Billion
Founded in 2015 in Colombia, Rappi started as an on-demand delivery platform but quickly evolved into a super app, expanding across the region.
After raising $1 billion from SoftBank in 2019, Rappi hit a $5.25 billion valuation in 2021. Despite recent challenges—including layoffs and tighter gig economy laws in Mexico—Rappi remains ambitious. It even hired a CFO in 2024 to prepare for an IPO after reaching break-even for the first time.
QuintoAndar – $5.1 Billion
Brazilian proptech giant QuintoAndar specializes in residential real estate rentals and sales. Founded in 2012, it now operates in six countries and has a tech hub in Europe.
In 2021, it raised $120 million just months after a $300 million Series E, lifting its valuation to $5.1 billion. With big-name investors like Kaszek, General Atlantic, SoftBank, and Tencent backing it, QuintoAndar has raised $755 million to date.
Creditas – $4.8 Billion
Creditas, a Brazilian fintech, offers secured loans and consumer credit solutions.
The company secured $260 million in a Series F round in early 2022, bringing its valuation to $4.8 billion. The round was led by Fidelity and supported by long-term investors like Kaszek Ventures and SoftBank. Creditas later used this funding to purchase a Brazilian banking license, strengthening its market position.
Nuvemshop (Tiendanube) – $3.1 Billion
Nuvemshop, also known as Tiendanube in Spanish-speaking markets, is Latin America’s answer to Shopify. It empowers small businesses and entrepreneurs to build online stores with ease.
In August 2021, Nuvemshop raised a whopping $500 million in a Series E round co-led by Insight Partners and Tiger Global, hitting a $3.1 billion valuation.
Wildlife Studios – ~$3 Billion
Wildlife Studios, a mobile gaming startup from Brazil, climbed to a nearly $3 billion valuation in 2020.
After raising $60 million from Benchmark at a $1.3 billion valuation in 2019, Wildlife quickly doubled its worth. However, the journey wasn’t without hurdles. In 2023, the company changed leadership and downsized as it adjusted to a tougher market.
Loft – $2.9 Billion
Another Brazilian proptech star, Loft launched in 2018 with backing from Silicon Valley heavyweights like a16z and Vulcan Capital.
By 2021, Loft had raised $425 million in a Series D round, pushing its valuation to $2.9 billion. Although it faced layoffs and market turbulence, Loft secured new funding in 2023 and hit break-even.
Unico – $2.6 Billion
Unico, an ID tech leader based in Brazil, stands as one of Latin America’s top SaaS startups.
It hit a $2.6 billion valuation in 2022 after a $100 million Series D round led by Goldman Sachs. Existing investors like General Atlantic and SoftBank also doubled down on their support.
C6 Bank – $2.28 Billion
C6 Bank, a digital banking platform founded in 2018, focuses exclusively on Brazil.
Valued at $2.28 billion in 2020, it later attracted JPMorgan Chase, which now holds 46% ownership. Impressively, C6 Bank turned its first profit in 2024.
Kavak – $2.2 Billion
Kavak, Mexico’s leading online platform for used cars, was once valued at $8.7 billion.
After struggling with international expansion and layoffs, its valuation dropped to $2.2 billion in 2025. However, the company raised $127 million in new equity funding and secured $400 million in debt, setting its sights on an IPO within the next five years.
Bitso – $2.2 Billion
Bitso, a major cryptocurrency exchange in Latin America, secured a $2.2 billion valuation in 2021.
It raised $250 million in a Series C round co-led by Tiger Global and Coatue. Bitso has also expanded into cross-border payments, tapping into the region’s booming remittance market.
CloudWalk – $2.15 Billion
CloudWalk, known for InfinitePay and Jim.com, provides payment infrastructure for businesses across Brazil.
After raising $150 million in a Series C round led by Coatue in 2021, it reached a $2.15 billion valuation. CloudWalk celebrated its first full year of profitability in 2023, closing 2024 with nearly $500 million in revenue.
Clip – $2 Billion
Clip, often dubbed Latin America’s version of Square, helps businesses accept payments with sleek POS devices.
Founded by former PayPal employees, Clip hit unicorn status in 2021. Its $100 million round in June 2024 reaffirmed a $2 billion valuation, with profitability just around the corner.
Loggi – ~$2 Billion
Finally, Brazilian logistics startup Loggi focuses on last-mile delivery services.
Valued close to $2 billion after a $205 million Series F in 2021, it counts investors like Monashees, Qualcomm Ventures, and SoftBank among its supporters.
