Nubank headquarters in Sao Paulo.
Technology

2017 to 2019 - A chronology of Latin American Unicorns

Since 2017, 15 of 315 unicorns in the world emerged in Latin America, according to a survey completed by LABS

Since 2017, 15 of 315 unicorns in the world emerged in Latin America, according to a survey completed by LABS which took into consideration the data from the following sources: the Brazilian Platform for Innovation Distrito, the Latin American Venture Capital Association (LAVCA), and CB Insights.

One of those newly-minted unicorns in Latin America is Nubank, a startup that this year gained entry into the elite group of decacorns—companies valued at $ 10 billion or more.

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Despegar (ARG) – September of 2017, during its IPO in Nasdaq, after raising $ 332 million. 

PagSeguro (BR) – January of 2018, during its IPO in Nasdaq, after raising $ 2.27 billion. After its debut, the company went on to be valued at $ 9 billion.

99 (BR) January of 2018, when purchased for $ 600 million by the Chinese firm DiDi Chuxing, reaching a market value of $ 1 billion.

Nubank (BR)March of 2018, reached before announcing the contribution of $ 150 million during the sixth round of investments since its founding, in 2013. The contribution was led by DST Global fund. In July of 2019, it received $ 400 million in an investment round by the American TCV fund. Nubank reached a market value of $ 10 billion.

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Arco Educação (BR) – September of 2018, during its IPO in Nasdaq, after raising $ 194.5 million. The value made the company surpass $ 800 million in its debut. On the following day, with a valuation of its shares, Arco went on to be valued at $ 1 billion.

Ascenty (BR) September of 2018, when Digital Realty, an American company of data centers, announced the purchase of Ascenty for $ 1.8 billion or BRL 7 billion.

Rappi (COL) September of 2018, after raising $ 250 million in a round led by DST Global, the Russian investor Yuri Milner, with the participation from the Sequoia and Andreessen Horowitz funds; the company went on to be valued at $ 1 billion.

ALSO READ: How Colombian startup Rappi has been leading the way in Latin America’s new technology era

Stone (BR) – October of 2018, during its IPO in Nasdaq, after raising $ 1.5 billion.

iFood (BR) – November of 2018, when it announced a contribution of $ 500 million from Naspers Ventures and Innova Capital, this last one from the entrepreneur Jorge Paulo Lemann, having planned an expansion of operations in Brazil and Latin America.

Movile (BR) – November of 2018, with the ascension of iFood, its controller, Movile also became a unicorn. In addition to iFood, Movile also has investments in SpoonRocket, in Sympla, and in PlayKids.

Prisma Medios de Pago (ARG)January of 2019, when the private equity company Advent International bought 51% of the payments leader company in Argentina for $ 700 million.

Auth0 (ARG)May of 2019, when the Argentine startup offered the management of identities as a service (the Identity-as-a-Service or IDaaS), it also announced a round of $ 103 million, lead by Sapphire Ventures.

Loggi (BR) June of 2019, when it received a contribution of $ 150 million, led by SoftBank and Microsoft.

Gympass (BR) June of 2019, when it received a contribution of $ 300 million, led by SoftBank and by the American fund General Atlantic.

QuintoAndar (BR) September of 2019, when it received a contribution of $ 250 million, led by SoftBank and by the American fund Dragoneer.

Translated by Axel Diniz