In the past, finding a large technology startup in Latin America was almost as difficult as finding a mythical unicorn. Mercado Libre was the lone leader in the market. However, there are now several companies in the region that are worth billions of dollars. Brazil and Mexico remain the leaders in terms of the number of “unicorns,” but they have also appeared in Argentina, Colombia, Chile, and Uruguay. TechCrunch has compiled a list of the 13 most valuable “unicorns” in Latin America.
Rappi - $5.25 billion
The Colombian delivery platform Rappi quickly conquered the international market. Rappi's growth accelerated even before the pandemic. In 2019, it received $1 billion in investment from SoftBank. However, the startup reached a valuation of $5.25 billion later, in 2021, when it received $500 million in another round of financing.
Since then, Rappi has been operating in more challenging conditions, undergoing several rounds of layoffs and facing changes in gig economy legislation in Mexico, where it plans to invest $110 million to expand its operations.
The company is still planning an IPO and has hired a CFO to prepare for the event after becoming profitable for the first time at the end of 2023.
QuintoAndar - $5.1 billion
QuintoAndar is a Brazilian real estate company specializing in residential rentals and sales. It operates in six Latin American countries and Portugal. It currently employs 3,500 people.
In 2021, the startup was actively raising funds: less than three months after announcing that it had raised $300 million in Series E funding at a valuation of $4 billion, QuintoAndar raised an additional $120 million at a valuation of $5.1 billion. To date, the company has raised $755 million. Its investors include Kaszek, General Atlantic, SoftBank, and Tencent.
Creditas - $4.8 billion
Creditas is a Brazilian financial company specializing in lending.
The latest $260 million funding round in January 2022 increased the company's value to $4.8 billion. The Series F round was led by Fidelity with participation from new and existing investors, including Kaszek Ventures, QED Investors, and SoftBank. It was extended in July 2022 at the same valuation, allowing Creditas to purchase the Brazilian license of Andbank, an Andorran bank, for approximately $93 million.
Nuvemshop - $3.1 billion
Brazilian startup Nuvemshop, known in Spanish-speaking markets as Tiendanube, is an e-commerce platform for small and medium-sized businesses, as well as entrepreneurs who want to sell goods and services online.
The company's latest known valuation of $3.1 billion came as a result of a $500 million Series E mega-round led by Insight Partners and Tiger Global Management. It took place in August 2021.
Wildlife Studios - $3 billion
Wildlife Studios is a Brazilian mobile game development company.
The company was co-founded by Victor Lazarte, who is also a general partner at Benchmark, a venture capital firm that invested $60 million in Wildlife Studios in 2019 as part of a Series A round at a valuation of $1.3 billion. In less than a year, the startup reached a valuation of nearly $3 billion in a Series B round.
In 2023, Lazart said that raising too much capital too quickly at too high a price was a mistake. In June 2023, the company announced that former Amazon executive Peter Hill would replace Lazart as CEO. The company also went through a few rounds of layoffs.
Loft - $2.9 billion
Loft is a Brazilian company operating in the real estate sector. A distinctive feature of the startup has been the support it has received from major Silicon Valley companies since its founding in 2018.
In 2020, Loft raised $175 million from a16z and Vulcan Capital in a Series C round. In March 2021, it raised $425 million in a Series D round led by New York-based D1 Capital Partners, and in April 2021, the company was valued at $2.9 billion.
In 2022, Loft conducted two rounds of layoffs. In 2023, after receiving new funding from a Middle Eastern sovereign wealth fund at an undisclosed valuation and another round of layoffs, the company's management announced that it had reached breakeven.
Unico - $2.6 billion
Unico is a Brazilian identity verification startup and one of the largest SaaS companies in Latin America.
The startup recently reached a valuation of $2.6 billion. This was achieved as a result of a $100 billion Series D funding round in April 2022. The round was led by Goldman Sachs with participation from existing investors General Atlantic and SoftBank Latin America Fund.
C6 Bank - $2.28 billion
C6 Bank is a Brazilian digital bank. Unlike some of its competitors, it has not expanded beyond Brazil, where it has over 35 million customers.
In December 2020, six months before JPMorgan Chase acquired a 40% stake in the bank, C6 was valued at $2.28 billion. After increasing its stake in 2023, JPMorgan Chase now owns 46% of C6, which became profitable for the first time in 2024.
Kavak - $2.2 billion
Kavak is a Mexican e-commerce platform that allows users to buy and sell used cars online. Its sponsors include General Catalyst and SoftBank.
After Kavak was valued at $8.7 billion in 2021 following a Series E funding round that doubled its value, it lost $6.5 billion due to expansion difficulties and layoffs. After raising $127 million in equity capital and securing two $200 million loans in March 2025, the company aims to prepare for a potential IPO within the next three to five years.
Bitso - $2.2 billion
Bitso is a Latin American cryptocurrency exchange that makes international payments easier.
In May 2021, the company raised $250 million in a Series C round, bringing its valuation to $2.2 billion. The round was led by Tiger Global and Coatue. New and existing investors Kaszek and QED also participated.
CloudWalk - $2.15 billion
CloudWalk is a Brazilian payment infrastructure company. It is known for its brands InfinitePay and Jim.com.
CloudWalk's valuation of $2.15 billion was the result of raising $150 billion in a Series C round led by Coatue in November 2021. CloudWalk became profitable for the first time in 2023. By the end of 2024, its revenue had reached $497 million.
Clip - $2 billion
Clip, formerly known as BlitzPay and founded by former PayPal employees in 2012, is the Latin American equivalent of Square and offers POS devices and financial solutions for businesses.
The startup became a unicorn in 2021 after a $250 million funding round led by SoftBank and Viking. The $100 million round that the company raised in June 2024 confirmed its $2 billion valuation.
Loggi - approximately $2 billion
Loggi is a Brazilian logistics company known for its focus on last-mile delivery. Among the startup's investors are Monashees, Qualcomm Ventures, and SoftBank.
The latest $205 million Series F funding round, led by CapSur Capital, took place in March 2021, with Loggi valued at around $2 billion.
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