Not long ago, the thought of publicly listed tech companies from Latin America felt far-fetched. Mercado Libre stood almost alone, a mythical unicorn. Today, however, the region is bustling with startups valued at over a billion dollars, many with international recognition.
Several of these companies gained global attention through cross-border expansions, with Nubank even making its public debut in the U.S. Still, beyond the headlines, a broader group of high-growth scale-ups is thriving — particularly in fintech, but also in e-commerce, health tech, logistics, proptech, and SaaS.
Some unicorns are still riding on “paper valuations” from the 2021 funding boom. Yet many show potential to rebound, especially as venture capital activity in Latin America showed resilience throughout 2024.
Brazil and Mexico continue to lead the unicorn count, but Argentina, Colombia, Chile, and Uruguay have also produced billion-dollar companies, enriching their local startup ecosystems.
Here’s an updated look at some of Latin America’s leading unicorns by valuation — though it’s worth noting that some price tags date back a few years.
Rappi (2015) — $5.25 Billion
Born in Colombia, Rappi evolved from an on-demand delivery platform into a full-fledged super app across Latin America.
It secured a $1 billion investment from SoftBank in 2019 and reached a $5.25 billion valuation following a $500 million funding round in July 2021.
Despite facing layoffs and regulatory challenges in Mexico, Rappi is planning an IPO and hired a CFO after achieving break-even in late 2023.
QuintoAndar (2012) — $5.1 Billion
Brazilian proptech QuintoAndar specializes in residential rentals and sales.
It operates in six countries and runs a tech hub in Europe. After multiple funding rounds in 2021, including a $120 million raise, its valuation climbed to $5.1 billion. Backers include Kaszek, General Atlantic, SoftBank, and Tencent.
Creditas (2012) — $4.8 Billion
Creditas, a Brazilian fintech firm focusing on consumer loans, raised $260 million in a Series F round in early 2022.
This boosted its valuation to $4.8 billion, led by Fidelity with strong support from Kaszek Ventures, QED Investors, and SoftBank. It later acquired the Brazilian arm of Andbank for $93 million.
Nuvemshop (2011) — $3.1 Billion
Known as Tiendanube in Spanish-speaking regions, this Brazilian e-commerce platform empowers SMEs to sell online — much like Shopify.
A $500 million Series E round in August 2021, co-led by Insight Partners and Tiger Global, set its $3.1 billion valuation.
Wildlife Studios (2011) — ~$3 Billion
Brazil’s Wildlife Studios quickly rose in mobile gaming, reaching a $3 billion valuation after a Series B round in 2020.
Co-founder Victor Lazarte later admitted that scaling too fast led to challenges, prompting leadership changes and workforce reductions in 2023.
Loft (2018) — $2.9 Billion
Loft, another Brazilian proptech, attracted top Silicon Valley investors like a16z early on.
Its Series D and its extension in 2021 lifted its valuation to $2.9 billion. Though impacted by the downturn, Loft achieved break-even in 2023 following additional Middle Eastern investment.
Unico (2007) — $2.6 Billion
Unico, a Brazilian identity tech and SaaS company, secured a $2.6 billion valuation with a $100 million Series D round led by Goldman Sachs in April 2022.
It remains one of Latin America’s largest SaaS players.
C6 Bank (2018) — $2.28 Billion
Focused solely on Brazil, C6 Bank hit a $2.28 billion valuation in late 2020.
JPMorgan Chase acquired 40% of C6 in 2021, increasing its stake to 46% by 2023. The bank celebrated its first profitable year in 2024.
Kavak (2016) — $2.2 Billion
Mexico-based Kavak, an online platform for used cars, was once valued at $8.7 billion.
After scaling back and securing fresh capital in March 2025, its valuation now stands at $2.2 billion, with IPO plans in sight.
Bitso (2014) — $2.2 Billion
Bitso, a cryptocurrency exchange supporting cross-border payments, raised $250 million in 2021, giving it a $2.2 billion valuation.
Its investors include Tiger Global, Coatue, Kaszek, and QED.
CloudWalk (2013) — $2.15 Billion
Operating InfinitePay and Jim.com, CloudWalk focuses on payment infrastructure.
It hit a $2.15 billion valuation after a $150 million Series C round in 2021. The company achieved profitability in 2023 and posted $497 million in revenue for 2024.
Clip (2012) — $2 Billion
Clip, often compared to Square, offers fintech solutions and POS systems across Latin America.
After a $100 million round in 2024, it retained its $2 billion valuation, nearing profitability.
Loggi (2013) — ~$2 Billion
Loggi specializes in last-mile logistics within Brazil.
It reached an approximate $2 billion valuation after a $205 million Series F in 2021, with support from Monashees, Qualcomm Ventures, and SoftBank.
Despite economic shifts and valuation resets, Latin America’s unicorns continue to shape their local and global markets. While some companies are recalibrating, others are laying the groundwork for long-term success, showing the region’s startup scene has matured far beyond its early unicorn days.
