Seven of the 10 most valuable startups in Latin America are from Brazil
RIO DE JANEIRO, BRAZIL – The cryptocurrency market is becoming increasingly relevant in the Latin American startup ecosystem: According to a survey published Tuesday, 6, two of the region’s largest startups operate in the sector. Digital banks and real estate trading platforms are also on the list, with two representatives each.
The survey also shows that the Brazilian startup ecosystem is the most important among South America, Central America, and the Caribbean. In addition to having the largest number of “unicorns,” as startups valued at more than US$1 billion are called, of which there are at least 17 in the country, Brazil has 7 of the 10 most valuable startups in the region.
According to the survey, conducted by The News website, the list of the most valuable startups in Latin America is topped by Brazilian Nubank, which is valued at US$30 billion and has a big lead over second-place real estate startup QuintoAndar, also Brazilian, whose market value is US$4 billion, tied with Mexico’s car sales marketplace Kavak (US$4 billion).
Subsequently appearing are Colombia’s delivery giant Rappi (US$3.5 billion), Brazilian mobile game maker Wild Life (US$3 billion), real estate startup Loft, also Brazilian (US$2.9 billion. ), Mexican crypto broker Bitso (US$2.2 billion), Brazilian C6 Bank (US$2.1 billion), Brazilian crypto broker Mercado Bitcoin (US$2.1 billion) and Brazilian lending platform Creditas (US$1.7 billion).
The three non-Brazilian startups on the list – Kavak, Rappi, and Bitso – are already operating in Brazil.
According to data from the Inter-American Development Bank (IDB), there are at least 28 unicorns in Latin America, which together have more than 245,000 employees. In a broader scenario, there are more than a thousand companies in the region that have received investments of more than US$1 million, and together these startups are worth more than US$221 billion.
Among the crypto sector companies on the list of the 10 most valuable, the Mercado Bitcoin exchange is the latest unicorn: it gained this status last week when it received a US$200 million investment from Softbank, bringing the company’s valuation to more than US$2 billion.
The brokerage is part of the 2TM Group, which, in addition to the brokerage, includes companies such as MeuBank, Blockchain Academy, and others. Mercado Bitcoin was the largest cryptocurrency exchange in the country for many years but now faces strong competition from companies such as China’s Binance and Mexico’s Bitso, the largest in Latin America, which landed in Brazil in 2021 just before receiving US$250 million in funding.
The presence of cryptocurrency companies on the list follows the accelerated growth of this market in the last 12 months. The rise in prices of the main cryptocurrencies such as Bitcoin and Ether, the increase in the number of investors, and the greater interest in this sector have led to companies associated with this market.
The large participation of Brazilian investors in the crypto market, who move billions every month and are among those who benefit the most from this type of trade worldwide, makes the scenario even more favorable for companies associated with the sector.
Live Market IntelligenceBrazil — Live Market Board
Rio Times · Live Market Intelligence
Brazil — Live Market Board
+2.97%
177,866
+2.97%
66,496
+0.59%
11,057
+0.28%
3,280,224
+2.43%
2,307.67
+0.65%
56,194.27
+1.29%
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 177,866 | +2.97% | +30.07% | 172,742 | 177,866 | 172,761 | — |
| USD/BRL | 5.11 | -0.17% | -8.50% | 5.12 | 5.13 | 5.10 | — |
| SELIC | 14.25% | — | — | — | — | — | |
| PETR4 | 39.65 | +1.12% | +22.98% | 39.21 | 39.97 | 39.34 | 27,213,400 |
| VALE3 | 74.18 | +1.41% | +34.19% | 73.15 | 74.66 | 73.12 | 22,118,800 |
| ITUB4 | 44.30 | +4.02% | +29.44% | 42.59 | 44.34 | 43.23 | 28,691,300 |
| BBDC4 | 18.86 | +4.78% | +16.85% | 18.00 | 18.87 | 18.32 | 47,714,200 |
| BBAS3 | 20.58 | +2.90% | -2.97% | 20.00 | 20.67 | 20.25 | 24,323,000 |
| B3SA3 | 15.42 | +4.26% | +9.44% | 14.79 | 15.53 | 15.19 | 41,437,800 |
| ABEV3 | 15.82 | +0.64% | +19.58% | 15.72 | 15.99 | 15.72 | 34,764,700 |
| WEGE3 | 46.51 | +1.68% | +16.57% | 45.74 | 46.80 | 46.11 | 7,145,200 |
| PRIO3 | 55.45 | -0.29% | +32.66% | 55.61 | 56.29 | 55.04 | 6,818,400 |
| SUZB3 | 41.55 | +1.27% | -16.65% | 41.03 | 41.87 | 41.20 | 8,080,900 |
| RENT3 | 41.10 | +4.31% | +7.45% | 39.40 | 41.32 | 40.31 | 8,338,600 |
| AZZA3 | 19.10 | +3.47% | -47.66% | 18.46 | 19.30 | 18.81 | 1,703,700 |
| CSNA3 | 5.18 | +7.92% | -37.82% | 4.80 | 5.20 | 4.95 | 14,591,200 |
| GGBR4 | 23.01 | +2.36% | +36.32% | 22.48 | 23.10 | 22.58 | 10,449,600 |
| ENEV3 | 27.55 | +5.15% | +107.61% | 26.20 | 27.55 | 26.61 | 16,185,800 |
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