With a total of 45 unicorns, Latin America represents less than 4% of the global total.
Brazil leads the region with 24 unicorns, representing more than half of all startups that have achieved the status.
From 2019 to 2023, Brazilian unicorns received US$11.6 billion in investment from investors. Argentina and Mexico compete for second place in the ranking with 7 unicorns each.
In the region, Rappi, Nubank, Kavak.com, Cornershop and Creditas are the 5 startups with the highest volume acquired.
Fintech, retailtech, realestate and supplychain are the sectors with the largest number of startups with a market value of more than US$1 billion.
With 19 fintechs, the financial sector represents more than 40% of the total volume. This amount can be explained by the maturity of the sector, which concentrates the largest number of startups and investment volume in general.
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