Not too long ago, the idea of public tech companies emerging from Latin America seemed almost impossible. Mercado Libre was once a rare unicorn, considered a mythical success. However, today, there are several Latin American startups and Unicorns that have achieved billion-dollar valuations, with many of them expanding beyond their home countries.
Nubank, for example, went public in the U.S. and gained international recognition, marking a milestone for Latin American tech companies. However, many other unicorns are flying under the radar, especially in fintech, but also across sectors like e-commerce, health tech, logistics, proptech, and SaaS.
While some of these unicorns might be holding “paper valuations” from funding rounds during the peak of 2021, their resilience is clear. Many of these companies are poised for recovery alongside the market, as VC investment in Latin America showed strong resilience in 2024. These unicorns also highlight the growing strength of Latin America’s startup hubs. While Brazil and Mexico lead in numbers, countries like Argentina, Colombia, Chile, and Uruguay are also nurturing unicorns, with the latest startup raising $127 million in April.
Let’s dive into the top Latin American unicorns by valuation and explore their paths to success.
Kavak (2016): Valued at $2.2 Billion in April 2025
Founded in Mexico, Kavak is an e-commerce platform for buying and selling used cars. Backed by General Catalyst and SoftBank, it once reached a $8.7 billion valuation after a Series E round in 2021. However, after facing challenges during its expansion and laying off employees, Kavak’s valuation dropped by $6.5 billion. Despite this, it raised a $127 million equity round in March 2025 and secured two $200 million debt facilities. The company is now aiming for an IPO within the next three to five years.
Ualá (2017): Valued at $2.81 Billion in March 2025
Ualá, an Argentine neobank, offers a range of financial services, including loans, investments, payments, and credit scoring. Since its 2017 launch, Ualá reached unicorn status after its $350 million Series D in 2021. The company recently raised an additional $66 million in March 2025, bringing its valuation to $2.81 billion.
Clip (2012): Valued at $2 Billion in June 2024
Known as the Square of Latin America, Clip offers POS devices and fintech solutions for businesses. Founded by former PayPal employees, Clip became a unicorn in 2021 with a $250 million Series D round led by SoftBank. Its valuation remained steady at $2 billion in June 2024, as the company approached profitability.
Creditas (2012): Valued at $4.8 Billion in January 2022
Creditas, a Brazilian fintech specializing in loans and consumer credit, raised $260 million in Series F funding in January 2022. This increased the company’s valuation from $1.75 billion to $4.8 billion, solidifying its position in the market. The company also acquired Andorran bank Andbank for $93 million in 2022.
Rappi (2015): Valued at $5.25 Billion in July 2021
Rappi, Colombia’s on-demand delivery platform, became a super app by expanding into several countries. In 2021, it secured over $500 million in funding, bringing its valuation to $5.25 billion. Despite challenges such as layoffs and changing gig economy regulations, Rappi is still aiming for an IPO, having recently hired a CFO after reaching break-even in late 2023.
QuintoAndar (2012): Valued at $5.1 Billion in August 2021
Brazil’s QuintoAndar, a proptech company specializing in residential real estate rental and sales, has expanded across six Latin American countries. The company raised $300 million Series E in 2021, followed by an additional $120 million, increasing its valuation to $5.1 billion.
Nuvemshop (2011): Valued at $3.1 Billion in August 2021
Known as Tiendanube in Spanish-speaking countries, Nuvemshop is an e-commerce platform for SMEs and entrepreneurs. In 2021, it raised $500 million in Series E funding, reaching a valuation of $3.1 billion.
Loft (2018): Valued at $2.9 Billion in April 2021
Loft, a Brazilian proptech company, raised $175 million Series C and $425 million Series D between 2020 and 2021, securing a valuation of $2.9 billion. Despite facing market challenges, including layoffs, Loft is positioning itself for future growth with continued investment.
Bitso (2014): Valued at $2.2 Billion in May 2021
Latin American cryptocurrency exchange Bitso raised $250 million in Series C funding, bringing its valuation to $2.2 billion in 2021. The company continues to expand its role in cross-border payments across the region.
CloudWalk (2013): Valued at $2.15 Billion in November 2021
CloudWalk, a payment infrastructure company based in Brazil, reached a valuation of $2.15 billion after raising $150 million in Series C funding in 2021. The company achieved profitability in 2023, closing 2024 with $497 million in revenue.
