5 Latin American Best Startups Worth Over $1 Billion Dollars
In recent years, the growing economic landscape within Latin America has spurred a frantic and remarkable uptick in investments from some of the richest financiers and shareholders around the globe. Places like Brazil, Mexico, and Colombia—to name but a few—are drawing in billions of dollars into their local markets through innovations in tech, finance, and saas (software as a service). The best startups in Latin American are gaining ground in the global market.
The Rise in Startup Culture
The money-mania and race to modernization has created a massive breeding ground for solutions-based companies called startups. I’m sure you’ve heard this overused term at some point, but what is the real definition of a startup? Startups have the following traits:
- younger than 10 years
- have received significant investment capital (over $1 million)
- predicted to achieve considerable growth in a short amount of time.
Neil Blumenthal, cofounder and co-CEO of Warby Parker, puts it in simple terms: “a startup is a company working to solve a problem where the solution is not obvious and success is not guaranteed.”
Success is a Unicorn
Every startup goes through at least three main stages of development, where the amount of capital they receive at one time or another either makes them or breaks them. Most companies receive millions of dollars in funding, while they all hope to exceed investments to upwards of tens of millions of dollars. But out of nowhere appears the “technological unicorn”—the rare and magical beast; the startup whose worth skyrockets into the billions. Well-known names like Airbnb, Facebook, and Uber are all unicornios tecnológicos. And now Latin America is giving rise to its very own unicornios, whose visionary genius is taking the world by storm. Let’s take a look at 5 Latin American startups that are currently worth over $1 billion dollars!
5 Latin American Best Startups Worth Over $1 Billion Dollars
Auth0
Auth0 is a digital security company that operates in Argentina (as well as the US and UK). It touts itself as the “new way to solve identity” for developers who typically make apps for web, mobile, and IoT (the internet of things). They provide a universal identity platform for businesses that want to integrate the authorization process for multiple unrelated systems.
Ebanx
Ebanx is a fintech company operating in Brazil and Mexico. As a service, it allows online customers to pay with local payment methods on international websites. They have revolutionized the way people shop online in over 8 countries worldwide, including Brazil, Mexico, Colombia, Chile, Peru, Ecuador, and Bolivia. They cater to more than 50 million end-users and their payment solutions are used by giant enterprises like Airbnb, Wish, and Spotify.
Gympass
Gympass chose an adequate name for itself as it provides companies and their employees with access to the largest global network of workout facilities (more than 47,000!) in the world. They hope to positively influence company cultures who use their software to create “more active and productive employees and organizations.” Within Latin America, they currently operate in Brazil, Chile, and Mexico, while they continue planning expansion into other countries.
iFood
Now considered to be Brazil’s biggest delivery company, iFood allows users to order their favorite foods from locally-registered restaurants through an innovative and user-friendly interface. With more than 70% of people in Latin America using the internet, a staggering number of people want to order their food online! iFood competes with a well-known North American company you may already know: UberEats.
Quinto Andar
Quinto Andar connects property owners with renters online through technology designed to simplify the experience of renting residential housing. This Brazilian startup created automated processes within their app for scheduling property visits, digitally signing rental contracts, and—most remarkably of all—they replaced co-signers and deposits with their own guarantee for “clients with a good credit score.” They currently operate only in Brazil, with plans to expand into neighboring Latin American countries as well as other parts of the world.
Invest in Yourself
The marketplace in Latin America is quickly transforming into a hub for innovation. It’s growing diversity of new technologies proves that we can always find novel and more efficient ways to accomplish long-standing goals. Do you want to learn more about investments and markets in Latin America? Read our blog post about Investment Opportunities in Latin America and schedule a free class with a certified Spanish teacher in Guatemala to discuss what you learned!
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