Until recently, the ideas of public high-tech companies coming out of Latin America seemed far apart, and Mercado Libre once looked as unusual and mythical as a true unicorn. But today there are several startups in the region that have reached a $1 billion valuation.
Some of these startups have fallen into the spotlight due to cross-border expansion, and are now recognized beyond their home countries, with Nubank being published in particular in the US
However, there is a more broad cohort of notable Latin American scale-ups. Most are fintechs, but they are not exclusive. Other important sectors include e-commerce, health technology, logistics, proptech, and SaaS.
Some homemade unicorns may now hold a “paper rating” from rounds sourced at peak 2021, but the points are still standing. They are worth knowing, and many can recover along with the market as many people showed resilience in 2024.
As a group, these unicorns also reflect multiple Latin American startup hubs. While Brazil and Mexico remain leaders, unicorns also emerged from Argentina, Colombia, Chile and Uruguay, further strengthening these ecosystems.
Let's take a closer look at Latin America's top American corn by rating. However, the oldest price tag should be taken with salt granules.
Rappi (2015): Valued at $5.25 billion in July 2021
Rappi, which comes out of Colombia, has become a super app and is an on-demand distribution platform that has expanded to multiple countries.
That rise solidified before the pandemic: in 2019, it raised $1 billion in investments from SoftBank. However, that $5.25 billion valuation was attached to the more than $500 million round set aside in July 2021.
Since then, Rappi has operated in a more challenging environment, carrying out multiple rounds of layoffs and facing changes in gig economy laws in Mexico. However, the company still wants an IPO and after reaching its first destruction in late 2023, it hired a CFO to prepare for its efforts.
Quintoandar (2012): Valued at $5.1 billion in August 2021
Quintoandar is a Brazilian prop tech company focusing on the rental and sale of residential real estate. Commercial activities in six Latin American countries and a high-tech hub in Europe have made several acquisitions and grown into a group with over 3,500 people.
In 2021, startups were busy in terms of fundraising: Less than three months after launching the $300 million Series E at a $4 billion valuation, Quintoandar raised an additional $120 million at a $5.1 billion valuation. The cap tables that have raised $755 million so far include Kaszek, General Atlantic, SoftBank and Tencent.
Creditas (2012): worth $4.8 billion in January 2022
Creditas is a Brazilian fintech player specializing in loans that include consumer credit.
The latest funding was the $260 million Series F in January 2022, with Brazilian lenders accounting for $4.8 billion from $1.75 billion in December 2020.
Series F was led by Fidelity, bringing in participation from new backers and existing supporters such as Kaszek Ventures, QED Investors and SoftBank. It was extended with the same rating in July 2022, allowing Creditas to purchase Andorran Bank and Bank's Brazilian license for around $93 million.
Nuvemshop (2011): Valued at $3.1 billion in August 2021
Branded as Tiendanube in the Spanish-speaking market, Nuvemshop is a Brazilian e-commerce platform designed to help small businesses and entrepreneurs sell their products and services online.
The latest known valuation of $3.1 billion comes from the co-led lead of the $500 million Series E Mega round, co-led by Insight Partners and Tiger Global Management, raised in August 2021.
Wildlife Studios (2011): valuation of $3 billion in August 2020
Wildlife Studios is a Brazilian mobile gaming company.
It was co-founded by Victor Lazarte, a general partner at Benchmark, a VC company that led Wildlife Studios' $60 million Series A in 2019 at a $1.3 billion valuation. Less than a year later, the startup reached a valuation of nearly $3 billion from the Series B round.
In a candid conversation on the stage at Slush 2023, Lazarte looked back and said it was “a mistake” to raise capital too much at a high speed. In June 2023, the company announced that former Amazon executive Peter Hill would replace Lazarute with CEO. We also conducted several layoffs.
Loft (2018): Valued at $2.9 billion in April 2021
Loft is a Brazilian prop tech company that has been supported by a large name in Silicon Valley since Genesis in 2018.
Loft's $175 million Series C was jointly led by A16z and Vulcan Capital in 2020. The $425 million Series D, led by New York-based D1 Capital Partners, was followed in March 2021, with an extension valued at $2.9 billion for April 2021.
Digital real estate platforms were unimmunized at market turns. It conducted two rounds of layoffs in 2022, but refused to raise the downround in 2023 after new funding from the Middle East Sovereign Fund in November 2022.
Unico (2007): worth $2.6 billion in April 2022
Unico is a Brazilian identity technology startup and one of the largest SaaS companies in Latin America.
The $2.6 billion valuation on this list is more recent than many. This comes from the $100 million Series D that the company raised in April 2022. The round was led by Goldman Sachs and was joined by existing investors Atlantic and SoftBank Claten America Fund.
C6 Bank (2018): Valued at $2.28 billion in December 2020
C6 Bank is a digital bank in Brazil. Unlike some competitors, it has not expanded beyond Brazil, which has over 35 million clients.
The C6 was valued at $2.28 billion in December 2020, six months before JPMorgan Chase acquired 40% ownership of Neobank in 2021. After increasing its shares in 2023, it owns 46% of its first profitable C6 in 2024.
Kavak (2016): worth $2.2 billion in April 2025
With supporters including General Catalyst and SoftBank, Kavak is a Mexico-based e-commerce platform that buys and sells used cars online.
Valued at $8.7 billion after the Series E round, which doubled its rating in 2021, Kabak was cut by $6.5 billion after difficulties in expansion and layoffs. After raising $127 million in stock in March 2025 and securing a $200 million debt facility, the company aims to position its IPO potential within the next three to five years.
Bitso (2014): worth $2.2 billion in May 2021
Bitso is a Latin American cryptocurrency exchange that promotes cross-border payments.
In May 2021, it secured a $250 million Series C round, cherishing the company at $2.2 billion, co-led with Tiger Global and Cotue to attract participation from new and existing investors, including Kaszek and QED.
Cloudwalk (2013): Valued at $2.15 billion in November 2021
Known for InfinitePay and the Jim.com brand, Cloudwalk is a Brazilian payment infrastructure company (not to be confused with a Chinese facial recognition software company under the same name).
Cloudwalk's $2.15 billion valuation came from a $150 million Series C led by Cotue in November 2021. Since then, Cloudwalk achieved its first year of profitability in 2023, earning $497 million in 2024.
Clip (2012): It's worth $2 billion in June 2024
Easily known as BlitzPay and founded by former PayPal employees, Clip is a Latin American square with POS devices and corporate fintech solutions.
Clip became a unicorn in 2021 following a $250 million round led by SoftBank and Viking, and has maintained this status ever since. The $100 million round raised in June 2024 saw a $2 billion valuation as the company was “on the brink of profitability.”
Loggi (2013): It's worth $2 billion in March 2021
Loggi is a Brazil-based logistics company known for its focus on last mile delivery.
Its supporters include Monassy, Qualcomm Ventures and SoftBank. The latest funding round was a $205 million Series F led by Capsuol Capital in March 2021, with a valuation of nearly $2 billion.
Bets are still open about who will join the list and how the rankings will sort, so make sure to keep updating.