Top Latin American Startups by Valuation: Unicorns Leading the Region's Tech Revolution

Latin America is rapidly becoming a hub for tech startups, with several companies reaching billion-dollar valuations over the past few years. This rise in value is particularly notable given the region's historical underrepresentation in the global tech landscape. Among the most prominent unicorns are Rappi, QuintoAndar, Creditas, Nuvemshop, Wildlife Studios, Loft, Unico, C6 Bank, Kavak, Bitso, CloudWalk, and Clip. Each of these companies has navigated unique challenges and opportunities, reflecting the diverse and dynamic nature of Latin American entrepreneurship. Rappi (Colombia, Founded 2015, Valued at $5.25 billion in July 2021) Rappi, an on-demand delivery platform, transformed into a super app operating across multiple countries. The company's breakthrough came in 2019 when it secured a $1 billion investment from SoftBank. However, the challenging gig economy legislation in Mexico and economic downturns have led to multiple layoffs. Despite these obstacles, Rappi remains committed to an IPO and recently hired a CFO to facilitate this goal, achieving break-even for the first time in late 2023. QuintoAndar (Brazil, Founded 2012, Valued at $5.1 billion in August 2021) QuintoAndar, a proptech company, focuses on the rental and sale of residential real estate. By 2021, it had raised significant funds, including a $300 million Series E at a $4 billion valuation, followed by an additional $120 million. With operations in six Latin American countries and a tech hub in Europe, QuintoAndar has a workforce of over 3,500 people. The company's cap table features notable investors such as Kaszek, General Atlantic, and SoftBank. Creditas (Brazil, Founded 2012, Valued at $4.8 billion in January 2022) Creditas is a Brazilian fintech specializing in loans and consumer credit. Its valuation skyrocketed from $1.75 billion in December 2020 to $4.8 billion in January 2022, after a $260 million Series F led by Fidelity. The company extended this round in July 2022 to purchase Andbank's Brazilian license for $93 million. Creditas continues to navigate market fluctuations and aims to maintain its financial strength. Nuvemshop (Brazil, Founded 2011, Valued at $3.1 billion in August 2021) Nuvemshop, or Tiendanube in Spanish-speaking markets, is an e-commerce platform catering to SMEs and entrepreneurs. Known as "Latin America’s answer to Shopify," Nuvemshop raised a $500 million Series E in August 2021, co-led by Insight Partners and Tiger Global Management, just months after a $90 million Series D led by Accel. The platform's rapid growth underscores the demand for digital commerce solutions in the region. Wildlife Studios (Brazil, Founded 2011, Valued at ~$3 billion in August 2020) Wildlife Studios, a brazilian mobile gaming company, gained recognition after co-founder Victor Lazarte's departure and his new role at Benchmark, the VC firm that led its $60 million Series A in 2019. Lazarte later admitted that rapid fundraising at high valuations was a mistake. Former Amazon executive Peter Hill replaced him as CEO in 2023, and the company has implemented several cost-cutting measures, including multiple rounds of layoffs. Loft (Brazil, Founded 2018, Valued at $2.9 billion in April 2021) Loft, another Brazilian proptech company, has garnered support from Silicon Valley stalwarts like Andreessen Horowitz and Vulcan Capital. The company's Series D and extension in 2021 lifted its valuation to $2.9 billion. Despite market challenges, including two rounds of layoffs in 2022, Loft reported reaching break-even in 2023 and secured additional funding from Middle Eastern investors. Unico (Brazil, Founded 2007, Valued at $2.6 billion in April 2022) Unico, a leading SaaS and ID tech company, received a $2.6 billion valuation after a $100 million Series D led by Goldman Sachs in April 2022. The company's growth reflects the increasing importance of identity verification and digital payment solutions in the region. Unico continues to expand its service offerings and maintains a strong financial position. C6 Bank (Brazil, Founded 2018, Valued at $2.28 billion in December 2020) C6 Bank, a digital bank, has quickly established itself in Brazil, boasting over 35 million clients. JPMorgan Chase's strategic investment, first acquiring 40% and then increasing it to 46%, highlights the bank's potential. C6 Bank recorded its first profitable year in 2024, demonstrating steady progress and robust financial management. Kavak (Mexico, Founded 2016, Valued at $2.2 billion in April 2025) Kavak, a Mexico-based e-commerce platform for buying and selling used cars, experienced dramatic valuation shifts. Once valued at $8.7 billion in 2021, Kavak saw a significant reduction due to expansion challenges and layoffs. However, recent funding rounds, including a $127 million equity raise and two $200 million debt facilities in March 2025, position the company to potentially go public within the next few years. Bitso (Brazil, Founded 2014, Valued at $2.2 billion in May 2021) Bitso, a cryptocurrency exchange, facilitated cross-border payments and achieved a $2.2 billion valuation in May 2021 with a $250 million Series C led by Tiger Global and Coatue. The company's success reflects the growing interest in blockchain and digital currencies in Latin America. CloudWalk (Brazil, Founded 2013, Valued at $2.15 billion in November 2021) CloudWalk, known for brands like InfinitePay and Jim.com, provides payment infrastructure solutions. In November 2021, the company raised a $150 million Series C, leading to a valuation of $2.15 billion. CloudWalk achieved its first profitable year in 2023 and closed 2024 with $497 million in revenue, showcasing its strong market position. Clip (Brazil, Founded 2012, Valued at $2 billion in June 2024) Clip, briefly named BlitzPay, offers POS devices and fintech solutions for businesses, earning it the nickname "the Square of Latin America." The company became a unicorn in 2021 with a $250 million round led by SoftBank and Viking. As of June 2024, Clip confirmed its $2 billion valuation, being "on the brink of profitability" according to its CEO. Clip's resilience in maintaining its status despite market volatility is commendable. Loggi (Brazil, Founded 2013, Valued at ~$2 billion in March 2021) Loggi, a logistics company focusing on last-mile delivery, has backing from Monashees, Qualcomm Ventures, and SoftBank. Its $205 million Series F in March 2021 brought it close to a $2 billion valuation. Loggi's operational efficiency and market adaptability have been key to its sustained growth. Industry insiders view the emergence of these unicorns as a sign of Latin America's growing tech ecosystem. The region's startups are increasingly diverse, spanning fintech, e-commerce, health tech, logistics, proptech, and SaaS. This diversity not only reflects local needs but also positions Latin American companies to compete globally. VC investments in the region remained resilient in 2024, indicating ongoing confidence despite market challenges. Companies like Mercado Libre and Nubank have already set successful precedents, paving the way for others. These startups are not just symbols of economic progress; they are instrumental in addressing critical issues such as financial inclusion, efficient supply chains, and digital transformation in various sectors. Their continued efforts to innovate and adapt to changing market conditions are crucial for sustaining growth and building a robust tech sector in Latin America.