When I meet with US and European entrepreneurs and investors, they frequently want to know what startups are doing well in Latin America.
There are generally three types of startups that generally do well:
1. Latin America based startups solving problems for Latin American market
2. Startups that target the US/European market and have a Latin American back office
3. Brazilian startups that generally target the Brazilian market
Each niche has their own pros and cons, but at Magma, we invest in a subset of the first niche: B2B startups that are based in Latin America and serve Latin American companies and the second niche: startups that target the US/European market, but have their back office in Latin America.
I’ll leave Brazil’s burgeoning startup scene aside for now and focus on some of the most interesting startups I’m seeing in Spanish speaking Latin America. Post in the comments if there’s a startup you think I should include. (more…)