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The Complete List of Latin American Unicorns [Updated 2020]

Don't worry, we speak : Español (Spanish), too!

Contxto – With Latin America growing as an important axis for the entrepreneurship ecosystem, hardly a day goes by without a breaking news story about a regional startup funding round. And even more frequently, new unicorns in Latam.

At Contxto, we’re always trying to showcase what’s going well in Latin America. With the same purpose, there’s no better way to exemplify the wonders of this geographic region than the startups that have managed to break the US$1 billion mark.

Here’s the complete list of Latin American unicorns in 2020.

*Disclaimer: Some of these companies are public. According to Investopedia, Unicorns are privately-held companies worth US$1 billion or more, nevertheless, we decided to include some public companies to provide a more detailed picture. These companies will be marked with an asterisk (*).

Latin American unicorns


The popular transportation startup began in São Paulo in 2012. Connecting users with taxi drivers and private drivers, the company sold 99 percent (no pun intended) of its stock to China’s Didi Chuxing for US$900 million.


Also from São Paulo, this startup was founded in 2006. Since then, Pagseguro has created innovative solutions for both users and companies in regards to payments, purchase automation, sales and transfers. The startup raised US$2.27 billion through its NYSE IPO.


Nubank originally began as Solucoes de Pagamento in May 2013. In less than two months, it changed its name and began to seriously challenge traditional banks and their exhausting bureaucratic processes. The Brazilian company acquired a value of US$4 billion after selling a minority stake for US$180 million to Tencent Holdings.


From Colombia, this startup proudly represents the city of Bogotá. Founded in 2015, the famous marketplace application connects users with drivers able to deliver almost anything. I actually believe they do deliver anything. The startup’s latest funding round was a US$200 million Series D led by DST Global with participation of Sequoia Capital, Andreessen Horowitz and Endeavor Catalyst.


Since beginning in 2010 in São Paulo, this Brazilian startup has become the largest data center in Latin America. Currently, it has 17 data centers around the world. Ascenty raised an undisclosed amount of money during its last investment round in June 2017. Nevertheless, we know that their current majority stockholders,Great Hill Partners, bought their stake for US$1.8 billion.


Stone Pagamentos sprang its payment processing services with debit and credit cards in 2012. Following its IPO worth US$1.1 billion, the Brazilian startup managed to earn an estimated annual revenue of US$5 million. A couple of days ago, it filed for a follow-on offering aiming to raise US$700 million.

Arco Educação*

This Brazilian startup went public at the end of September 2018, raising over US$220 million. The platform offers basic education programs for learning and development. Arco Educação’s technology and services are also available to more than 425 million students and it’s present in approximately 1,300 private Brazilian schools.


This food delivery platform started in May 2011 in São Paulo, Brazil. Its last investment round, a Series G worth US$500 million, happened in November 2018. Out of the total amount, US$400 million were committed by Innova Capital and Naspers to iFood’s holding, Movile, in order to further invest in the startup.


Since 2012, Gympass has been connecting employees from partnering organizations with a hefty network of 30,000 fitness facilities. Nowadays, Crunchbase is reporting more than 141,000 monthly app downloads across 15 different countries. The startup raised US$300 million from Softbank, presumably at more than US$1 billion.

Prisma Medios de Pago

Always innovating, this company facilitates online transactions, payments, transfers, points of sale, online shopping, billing, as well as money management. Prisma launched in 2014 back in its hometown of Buenos Aires, Argentina. To the surprise of many, it became a unicorn in 2019 after Advent’s capital infusion of US$700 million.


Despegar began in 1999 as an online B2C travel agency catering to the Portuguese and Spanish speaking market. Now based in Miami, Florida, it enables users to research travel itineraries, check flight availability, as well as book airfare. People can also secure hotel and car rental reservations online, in addition to travel-related services, including access to airlines, car rental companies, etc.


Also, beginning in Argentina in 1999, MercadoLibre is perhaps Latin America’s most well-known e-commerce and auction platform. Often compared to eBay, this marketplace allows customers to buy or sell practically anything, ranging from electronics, motor vehicles, to even real estate.


This digitally native company helps partners embrace innovation, design, and engineering to effectively scale. Since 2003, it has expanded to more than 14 countries and worked with corporations such as Google, Southwest Airlines, EA and BBVA. Previously, Globant has been previously featured as a business case study for Harvard, MIT and Stanford.


This Mexican company from Monterrey has been providing IT solutions since 1982. Active across the world, Softtek offers time-to-business solutions, decreases costs of existing applications, engineers and tests applications, and helps top-tier corporations in 20 countries to produce optimal outcomes. One way or another, this firm helps raise the business value of IT among its many partners.

KIO Networks

Kio” means “mirror” and symbolizes duality in Swahili. Well, those are two relevant words for this Mexican business and its ample portfolio of IT services. It began in 2002 and has since provided the necessary infrastructure to over 40 Data Centers in Mexico, Central America, the Caribbean, and Europe, helping users peer through the looking-glass of their own data.


Similar to Mercado Libre, OLX began in 2006 as a competing e-commerce platform in Argentina. As expected, users can purchase vehicles, furniture, clothing, plus many other conveniences. What makes this company a little different is that users can also find jobs or advertise for services.


TOTVS started in 1983 as a software company in Brazil, focusing on the relationship, management and support side of the industry. It specializes in software development and just recently sold its hardware production unit, Bematech, to Elgin.


Never compromise on identity is this company’s motto. Auth0 is a cybersecurity and authentication startup from Argentina. It provides holistic B2B solutions for corporations seeking to improve security protocols.


Loggi, like other delivery apps, is attempting to secure next-day delivery anywhere in Brazil. It raised US$100 million from SoftBank to accomplish this.

Businesses use Loggi’s “logistics-as-a-service” platform to send out delivery requests, which automatically calculates the route and price.


Following a big SoftBank investment, the Brazilian proptech QuintoAndar became a unicorn in September 2019. Its online platform provides a marketplace for users to either purchase or sell properties. Allegedly great for property liquidation, the platform allows subscribers to monitor listings, keep tabs of financial transactions between tenants and landlords, not to mention create binding contracts.


EBANX is a Brazilian fintech offering end-to-end localized payments to some of the world’s most renowned brands. Specifically, it partners with international companies wanting to enter lucrative regional markets, such as Brazil.

To permit this, the company provides clients with over 100 local payment options as well as over 50 Latin American banks and payment processors. Popular among e-merchants, some prominent partners include AliExpress, Wish, Gearbest, Pipedrive, Spotify, as well as Airbnb


Uruguay’s first addition to the ranks of Latin America’s unicorns! After a US$200 million investment led by General Atlantic and Addition, dLocal reached a valuation of US$1.2 billion.

As a payments fintech, dLocal not only covers a wide geographical area; it also claims to be the “only 360 payments technology platform designed to handle mass online payments in emerging markets across LATAM, APAC, and EMEA.”

These proud unicorns from Latin America have set the bar very high. All of them exemplify a thirst for innovation and keen business senses, which we love to see. New technologies will surely come from them, and Contxto will be there to let you know all about it.


Written by Victor Cortés, César Miramontes, Alex González Ormerod, and Jacob Atkins

Victor Cortéshttps://contxto.com/
CEO & Co-Founder of Contxto. Passionate about tech, startups and venture capital. I eat sushi five times a week.



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