In recent years, Latin America’s startup ecosystem has experienced remarkable growth, with numerous companies achieving valuations exceeding $1 billion. This surge reflects the region’s increasing prominence in the global tech landscape. Below is an overview of some of the most highly valued startups in Latin America:
Rappi (2015): Valued at $5.25 Billion in July 2021
Originating from Colombia, Rappi began as an on-demand delivery platform and has since evolved into a comprehensive super app, offering services ranging from food delivery to financial products. By 2019, Rappi secured a $1 billion investment from SoftBank, and in July 2021, it raised over $500 million, reaching a valuation of $5.25 billion. Despite facing challenges such as layoffs and evolving gig economy regulations in Mexico, Rappi continues to expand, planning a $110 million investment to bolster its operations. The company achieved break-even in late 2023 and is actively preparing for an initial public offering (IPO).
QuintoAndar (2012): Valued at $5.1 Billion in August 2021
QuintoAndar, a Brazilian proptech company, specializes in the rental and sale of residential real estate. Operating in six Latin American countries and maintaining a tech hub in Europe, the company has expanded significantly through strategic acquisitions. In 2021, QuintoAndar raised a $300 million Series E round at a $4 billion valuation, followed by an additional $120 million, elevating its valuation to $5.1 billion. To date, the company has raised $755 million from investors including Kaszek, General Atlantic, SoftBank, and Tencent.
Creditas (2012): Valued at $4.8 Billion in January 2022
Brazilian fintech firm Creditas specializes in secured consumer loans, offering products such as home equity and auto-secured loans. In January 2022, the company raised a $260 million Series F round, bringing its valuation to $4.8 billion. Creditas continues to expand its product offerings and market reach, solidifying its position as a leading financial services provider in the region.
Kavak (2016): Valued at $8.7 Billion in September 2021
Mexico’s Kavak operates an online platform for buying and selling used cars, addressing a significant market need in Latin America. In September 2021, Kavak raised $700 million in a Series E funding round, achieving a valuation of $8.7 billion. The company’s rapid growth underscores the potential of tech-driven solutions in traditional industries within the region.
Nubank (2013): Valued at Over $65 Billion in December 2021
Brazilian fintech giant Nubank has revolutionized banking in Latin America by offering digital-first financial services. In December 2021, Nubank went public on the New York Stock Exchange, reaching a valuation exceeding $65 billion. With over 33 million customers, Nubank stands as the world’s largest neobank, exemplifying the region’s capacity for producing globally significant tech companies.
Mercado Libre (1999): Valued at Over $80 Billion in 2025
Argentinian e-commerce platform Mercado Libre has been a pioneer in Latin America’s digital marketplace. Since its IPO in 2007, the company’s market capitalization has surged, reaching over $80 billion by 2025. Mercado Libre’s success highlights the enduring potential of e-commerce in the region.
dLocal (2016): Valued at $14 Billion in June 2021
Uruguayan payment processing company dLocal specializes in cross-border payments, facilitating transactions between global merchants and emerging markets. In June 2021, dLocal went public on Nasdaq, achieving a valuation of $14 billion. The company’s growth reflects the increasing importance of seamless payment solutions in global commerce.
VTEX (2000): Valued at $4.5 Billion in July 2021
Founded in Brazil, VTEX provides a cloud-based e-commerce platform for enterprises. In July 2021, the company went public on the New York Stock Exchange, reaching a valuation of $4.5 billion. VTEX’s platform supports major retailers in managing their digital commerce operations, showcasing the region’s strength in enterprise tech solutions.
NotCo (2015): Valued at $1.5 Billion in July 2021
Chilean food-tech company NotCo utilizes artificial intelligence to create plant-based alternatives to animal products. In July 2021, NotCo raised $235 million in a Series D funding round, bringing its valuation to $1.5 billion. The company’s innovative approach to food production positions it as a leader in the alternative protein market.
Ualá (2017): Valued at $2.5 Billion in August 2021
Argentinian fintech startup Ualá offers a mobile banking app that provides users with a prepaid card and financial management tools. In August 2021, Ualá raised $350 million in a Series D funding round, achieving a valuation of $2.5 billion. The company’s growth underscores the demand for accessible financial services in the region.
Clip (2012): Valued at $2 Billion in June 2021
Mexican fintech company Clip provides payment terminals and apps for merchants, facilitating card payments for small and medium-sized businesses. In June 2021, Clip raised $250 million in a Series D funding round, bringing its valuation to $2 billion. The company’s solutions are instrumental in promoting financial inclusion in Mexico.
Kueski (2012): Valued at $1.3 Billion in December 2021
Also based in Mexico, Kueski is a fintech company offering microloans and buy-now-pay-later services. In December 2021, Kueski raised $202 million in a Series C funding round, achieving a valuation of $1.3 billion. The company’s services cater to the underbanked population, addressing a critical need in the region.
Conclusion
The ascent of these startups underscores Latin America’s dynamic and rapidly evolving tech landscape. With a focus on innovation and addressing local market needs, these companies have not only achieved significant valuations but also contributed to the region’s economic growth and digital transformation.
