Every year, millions of startups are launched worldwide, and Latin America is no exception.
In fact, this phenomenon has drawn the attention of investors from all over the world.
Despite the challenges we all know, venture capital investments grew by an extraordinary 673% between 2019 and 2020. This remarkable figure has led many analysts to believe that entrepreneurs—armed with vision, creativity, and a growth mindset—will lead the economic recovery following the COVID-19 crisis.
This optimism isn’t misplaced. Entrepreneurs see opportunities amid crises. These scenarios foster innovation and adaptability, which turn into business opportunities.
Of course, entrepreneurship involves risk. It’s estimated that 70-90% of companies fail within their first two years. However, those that succeed create immense economic and social value, making the effort worthwhile.
That’s precisely what a group of rebels and adventurers thought when they transformed how we think and do business. It’s fortunate for them and even better for the region. Not only have they built massive companies and created numerous jobs, but they’ve also proven that it’s possible to succeed and inspired a spirit of entrepreneurship. To me, this is invaluable—sending the message that thinking differently, daring to innovate, and pursuing your passion is a viable path to success and well-being.
There are countless successful companies, and creating a perfect list is impossible because we’d need to include hundreds. But rest assured, we’ll write more articles like this. For now, let’s look at five companies that have recently caught my attention and are worth following, learning from, and engaging with.
5 Latin American Startups That Have Changed the Way We Think and Do Business
1. Rappi (Colombia)
If you live in Colombia, Mexico, Costa Rica, Chile, Argentina, Peru, Ecuador, Uruguay, or Brazil, you’ve likely heard of Rappi. It’s the most successful logistics company in recent years.
For consumers, Rappi is the app that lets them order goods and food from the comfort of their homes. But what Rappi truly sells is convenience, time savings, and security.
To achieve this, Rappi has built an extraordinary network connecting consumers, payment solutions, couriers, convenience stores, restaurants, and more.
Now valued at $3 billion, it was the first Colombian startup to reach unicorn status. Founded by Felipe Villamarín, Sebastian Mejía, and Simón Borrero, Rappi has revolutionized delivery and online sales.
Takeaway:
Identify a problem, create a solution, and connect with existing consumers.
It’s easier to develop products for consumers than to find consumers for your products.
2. Clip (Mexico)
Founded in 2012 by Adolfo Banatz and Vilash Poovala, Clip is Mexico’s fastest-growing mobile terminal for accepting credit or debit card payments. The device is as simple as connecting it to a smartphone or tablet.
Clip is the perfect solution for small businesses lacking the infrastructure to use traditional card terminals.
Clip not only addresses a real and widespread issue but also offers an excellent distribution network—getting the device is easy—and provides outstanding customer service. It delivers what traditional credit card companies couldn’t offer to small businesses.
Takeaway:
Clip wasn’t the first mobile terminal for credit card payments. Its value lies in learning from others and adapting solutions for its market.
3. D-local (Uruguay)
Ever wanted to pay for a hotel or buy something from a foreign store but couldn’t? D-local has the answer.
This platform connects global merchants with emerging markets via technology that enables multinational companies to accept local currency payments.
In just five years, D-local has expanded to serve 450 companies across 20 countries, including South Africa, India, Turkey, Nigeria, and many in Latin America.
Founded by Sebastian Kanovich and Sergio Fogel, D-local became Uruguay’s first unicorn with a valuation of $1.2 billion.
Takeaway:
If a problem hasn’t been solved yet, create the solution. Chances are, others face the same issue and are willing to pay for a fix.
4. Platzi (Colombia)
One of Latin America’s most iconic startups, Platzi is the region’s most effective online education platform. If you’re looking for a course in technology, Platzi has you covered.
Founders Christian Van Der Henst and John Freddy Vega have made learning practical, fun, and professional.
Platzi offers over 100 courses, 24 career paths, and serves more than 100,000 students in subjects like digital marketing, web development, and network design.
Takeaway:
If you’re not first to market, it’s not a problem. Do it differently or better—or both.
5. Nubank (Brazil)
Nubank, founded in 2013 by David Vélez, Cristina Junqueira, and Edward Wible, is Brazil’s largest neobank.
Headquartered in São Paulo, Nubank is now valued at $10 billion. Its first product, launched in 2014, was a no-fee international credit card managed via a mobile app.
From 2019 to today, Nubank has tripled its customer base—from 12 million to 35 million—with an average of 4,000 new customers per day.
Takeaway:
What seems like a weakness can become a strength with the right focus. Nubank’s small structure allowed it to move faster, connect with customers, and innovate in ways traditional banks couldn’t.
Conclusion
These companies should make us proud and inspired—they’re living examples of the talent in Latin America.
Entrepreneurship and a growth mindset are possible anywhere in the world under almost any circumstance. These stories hold countless lessons. Let’s pay attention and learn from their incredible journeys.
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