Latin America’s tech ecosystem is maturing rapidly. 2017 was a standout year for foreign investment in Latin American startups, with investors in the US and China taking an interest in tech companies that are solving both local and global problems. Not only are the startups in the region becoming more numerous and innovative, but the older tech companies that started in the mid-2000s are reaching high valuations that allow them to compete globally.
Over the past decade, the number of tech startups reaching billion-dollar valuations, known as ‘unicorns,’ has grown considerably. At least nine of these unicorns were founded in Latin America, concentrated in Argentina and Brazil.
There is a lot to be learned from tech companies that can reach a billion-dollar valuation in a challenging market like Brazil or Argentina. What’s more, building a billion-dollar business in Latin America does not happen overnight.
Here’s a look at how each of Latin America’s billion-dollar tech companies reached their current valuations. (more…)