Latitud announced that they have raised an US$11.5 million seed round. It was led by Andreessen Horowitz (a16), who “complements the company’s experience,” Brian Requarth, co-founder and CEO of Latitud, told Contxto.
With this new capital, the company will seek to strengthen its tech platform and educational programs focused on early-stage startups.
“We started as a community that helped entrepreneurs across the region. Now, this moment means a transition to become a tech company that solves problems for entrepreneurs,” said Requarth.
Also participating in the round were NDF, Endeavor, Canary FJ Labs, as well as David Vélez, founder of Nubank; Carlos and Loreanne Gacía of Kavak; Sebastián Mejía, co-founder of Rappi; Daniel Vogel, founder of Bitso; Daniel Undurraga, co-founder of Cornershop, Sergio Fogel, co-founder of dLocal, among others. “We are coming together [Latitud and investors] to invest in the future of Latin America,” said Gina Gotthilf, co-founder of Latitud.
Latitud and Its Tech Solutions for Startups
The solutions created so far by Latitud, which was created in 2020, are focused on solving the pain points of startups in Latin America in four verticals: company formation, international capital, cap table management and access to world-class mentoring from accomplished operators and technology leaders.
Both co-founders told Contxto that they see great challenges and, therefore, opportunities in every sector of the region’s economy. As some examples of this, they mentioned the healthcare, education and financial services sectors.
Their offerings and programs include Latitud Go, which was the first company formation product in Latin America. It is a platform that allows any founder to raise venture capital in a smart way, said the CEO.
They also have Latitud Fellowships, an educational program for startup development. Finally, they have Latitud Ventures, the company’s investment arm, which has already participated in pre-seed and seed rounds of more than 70 companies. Among them: Yuno, Flexio, Jefa, Reworth, Castor, Pomelo, BHub and Alinea.
How Do Entrepreneurs Benefit?
Having experience in company formation, Requarth said that they will transmit that knowledge so that startups can incorporate their company in the right way to receive VC investment in a faster, more robust and optimized way.
Another benefit is networking among entrepreneurs, operators, and mentors from Latin America and even Silicon Valley.
In 2022, Latitud will scale more technology platforms for entrepreneurs, which will focus mainly on solving financial and legal issues. It will also seek to increase its community (it now has 800 entrepreneurs), its educational programs and its team, explained Gina Gotthilf, co-founder and COO of Latitud.
Among the founders who have participated in the company’s programs are David Arana of Konfio, Oscar Hjertonsson of Cornershop and Carlos and Loreanne Garcia, co-founders of Kavak. Gerry Giacoman Coyler of Clara and Daniel Vogel of Bitso are also part of the first Latitud Angel Fellowship group.
The company, founded by Brian Requarth, Gina Gotthilf, and Yuri Danichenko offers its solutions throughout Latin America, but is focusing primarily on Mexico, Brazil, Colombia, Chile and Argentina.
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