MercadoLibre is Latin America's most valuable company
There are now over 50 tech companies in Latin America valued above $1B. The vast majority of them operate in fintech and payments.
MercadoLibre is Latin America's most valuable company, valued at $93.2B, followed by Nubank ($65.6B).
66% of LatAm's unicorns was born in Brazil, followed by Mexico (17%) and Argentina (8%).
Most unicorns in LatAm were minted during the 2020-2022 ZIRP-era, and their $1B+ 'paper' valuations are already a few years old. Liquidity remains to be seen, as very few IPOs and acquisitions have happened to date.
These are the tech unicorns of Latin America
This ranking includes the largest tech companies in Latin America, valued above $1 billion. It includes private, public and acquired companies. Most private valuations are last reported or recently rumoured.
On ZIRP-era (2020-2022) valuations: many comps on this list raised on $1B+ valuations during the ZIRP era. We exclude companies that are known to have their valuations adjusted, but include those that maintained their status, or their new valuation is unknown.
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1
MercadoLibreMercadoLibre runs the largest e-commerce marketplace in Latin America, with about 150 million active users and more than 600 million active listings across 18 countries stitching into its commerce network or fintech solutions when last reported. The company operates a host of complementary businesses to its core online shop, with shipping solutions (Mercado Envios), a payment and financing operation (Mercado Pago and Mercado Credito), advertisements (Mercado Clics), classifieds, and a turnkey e-commerce solution (Mercado Shops) rounding out its arsenal. MercadoLibre generates revenue from final value fees, advertising royalties, payment processing, insertion fees, subscription fees, and interest income from consumer and small-business lending.
$93.2B
$28.9B
3.5x
Public
2
NubankNu Holdings Ltd provides digital banking services. It offers several financial services such as Credit cards, Personal accounts, Investments, Personal Loans, Insurance, Mobile payments, Business Accounts, and Rewards. The company earns the majority of its revenue in Brazil.
$65.6B
$15.8B
4.0x
Public
3
KavakKavak is a Mexico City-headquartered online marketplace for buying and selling inspected used cars across Latin America. It operates inspection centers, provides financing options, and guarantees vehicle history in Mexico, Brazil, Argentina, and Colombia. Founded in 2016 by Carlos García Elía, Federico Schuster, and Diego Moreno, Kavak expanded to Turkey in 2022. The platform features over 20 inspection points and digital trade-ins, serving urban markets with seamless transactions.
$8.7B
$750M
11.6x
Private
4
XP InvestimentosXP Inc is a Cayman Island-based technology-driven financial services platform. It is a provider of low-fee financial products and services in Brazil. The company evaluates its business through a single segment such as monitoring operations, making decisions on fund allocation, and evaluating the performance. It generates revenue through the Brokerage commission.
$8.6B
$3.5B
4.2x
Public
5
iFoodiFood is a Brazil-headquartered online food delivery platform operating in Latin America. Launched in 2011, it connects 250,000 restaurants with 60 million monthly users across 1,500 cities, processing 100 million orders per month as of 2023. Backed by Prosus and Just Eat Takeaway, the app offers real-time tracking, loyalty programs, and iFood Benefícios for employee meal vouchers. The company employs 10,000 staff and holds 80% market share in Brazil's delivery sector.
$5.4B
$991M
5.4x
Acquired
6
RappiRappi is a leading on-demand delivery platform operating across Latin America, including Colombia, Mexico, Brazil, and Argentina. Customers use its mobile app to order groceries, meals, pharmaceuticals, pet supplies, and gifts, with options like Turbo for rapid service and integrated digital wallets for payments. Founded in 2015 and headquartered in Bogota, Rappi also facilitates travel bookings and cash delivery, serving millions through hyperlocal logistics networks.
$5.3B
$856M
6.1x
Private
7
QuintoAndarQuintoAndar is a São Paulo-headquartered proptech platform that streamlines residential real estate rentals in Brazil. Launched in February 2013, it connects landlords and tenants with digital tools for property listings, virtual tours, contracts, and payments, eliminating bureaucracy. The company manages thousands of properties across major cities, employing best practices in user-centric design.
$5.1B
–
–
Private
8
C6 BankC6 Bank is a São Paulo-headquartered digital bank offering checking accounts, credit cards, investments, loans, and multi-currency wallets exclusively through its mobile app. Launched in 2019, the bank serves over 20 million Brazilian customers without physical branches, integrating services like free toll payments and global transfers. C6 Bank partners with Mastercard and holds a full banking license from Brazil's central bank.
$5.0B
$1.7B
3.0x
Private
9
PlataPlata is a Mexico City-based fintech providing a no-annual-fee Mastercard credit card and buy-now-pay-later service. The platform offers up to 15% customizable cashback in partner categories, interest-free installments, Apple Pay support, and 24/7 fraud monitoring. Plata Difiere extends installment credit up to MXN 200,000 over 3-24 months without cards. Users manage digital cards and top-ups via app or cash at OXXO stores, targeting underserved consumers in Mexico's digital payments market.
$5.0B
$600M
8.3x
Private
10
dLocalDLocal Ltd is focused on making the complex simple, redefining the online payment experience in emerging markets. Through its technology platform, One dLocal, the company enables world-wide enterprise merchants to get paid (pay-in) and to make payments (pay-out) online in a safe and efficient manner. The company earns revenue from fees charged to merchants in connection with payment processing services for cross-border and local payment transactions. The company's geographical segments include Latin America and Non-Latin America with a majority of its revenue being generated from Brazil in Latin America region.
$4.3B
$1.1B
3.1x
Public
11
MarfrigMarfrig Global Foods SA is a Processing of products (formed by cattle slaughter facilities in operation, which are also used in beef processing, and for the manufacture of animal nutrition products) and sale of animal-based (beef, pork, lamb, fish, and poultry) and plant-based proteins. The company organizes itself into four main segments: Beef - North America, Beef - South America, Poultry, Pork and Processed Products – BRF, and Corporate. The company earns more than half of its revenue through its operations in Beef - North America.
$4.1B
$32.2B
0.4x
Public
12
TOTVSTotvs SA is a provider of information technology solutions to small and medium enterprises in the education, government, healthcare, and retail end markets. The Company's business purpose is to provide business solutions for companies of all sizes, through the development and sale of management software, productivity platforms, collaboration, and data intelligence, digital marketing, as well as the provision of implementation, consulting, advisory, maintenance services, e-commerce, and mobility. The Company operates in three reportable segments, which include the TOTVS Management segment, the RD Station segment, and the TOTVS Techfin segment. The majority of its revenues is generated from the TOTVS Management segment.
$3.4B
$1.1B
3.5x
Public
13
CreditasCreditas is a São Paulo-headquartered fintech offering asset-backed consumer loans through its app to 5 million Brazilians. Borrowers pledge autos, motorcycles, or home equity for credit lines up to 200,000 reais at rates 40% below market averages. Operating in 1,600 cities since 2012 rebrand from BankFacil, it partners with BV and Itaú for funding, disbursing 10 billion reais yearly with AI underwriting.
$3.3B
$592M
5.6x
Private
14
UaláUalá is an Argentine fintech company offering a mobile-based financial ecosystem that includes Mastercard prepaid and debit cards, credit cards, savings accounts, personal loans, investment products, insurance, and merchant payment services. Founded in 2017 by Pierpaolo Barbieri and headquartered in Buenos Aires, the platform originally launched as a prepaid card provider and has since expanded into a full-service digital banking operation. Ualá serves over 11 million customers across Argentina, Mexico, and Colombia, with roughly one in five Argentine adults holding an account. The company acquired Mexican bank ABC Capital, granting it a local banking license to offer deposit and lending products in that market. Backed by investors including Allianz X, SoftBank, Tencent, Goldman Sachs Asset Management, and Soros Fund Management, Ualá reached a valuation of $3.2 billion following a $195 million funding round in March 2026.
$3.2B
$186M
17.2x
Private
15
NuvemshopNuvemshop is a Buenos Aires-headquartered e-commerce platform empowering SMBs in Latin America with tools for store creation, payments via Mercado Pago, and logistics integrations. It supports over 100,000 stores in Brazil, Argentina, Mexico, and Colombia with features like abandoned cart recovery and SEO optimization. Nuvemshop provides apps for inventory and marketing automation. Launched in 2011, it processes millions in GMV annually.
$3.1B
–
–
Private
16
Wildlife Studios
$3.0B
–
–
Private
17
LoftLoft is a Brazilian proptech company founded in 2018 and headquartered in São Paulo. Digitizes real estate transactions across Latin America by combining data software and embedded fintech services. Partners with thousands of real estate brokerages to facilitate property listing financing insurance and rental management through an end-to-end digital workflow.
$2.9B
–
–
Private
18
StoneCoStoneCo Ltd is a provider of financial technology solutions. It serves MSMBs solutions, at fair prices, and provides the customer experience to help them manage their businesses and sell more. Its Stone Business Model combines end-to-end, cloud-based technology platforms; differentiated hyper-local and integrated distribution approaches; and white-glove, on-demand customer service. It has two segments Financial Services segment, which includes payments solutions, digital banking, credit, insurance solutions as well as the registry business. In the Software segment solution includes POS/ERP, TEF and QR Code gateways, reconciliation, CRM, OMS, e-commerce platform, engagement tool, ads solution, and marketplace hub. It generates the majority of its revenue from the Financial Services segment.
$2.7B
$2.7B
1.4x
Public
19
unico IDtechUnico IDtech is a São Paulo-based developer of biometric identification platforms centered on facial recognition. The company delivers solutions for digital onboarding, document verification, and paperless processes across financial services, government, and enterprise sectors in Brazil and Latin America.
$2.6B
$100M
26.0x
Private
20
PagSeguroPagSeguro Digital Ltd is a Brazilian-based company that acts as a provider of financial technology solutions focused on Micro-Merchants, Small Companies and Medium-Sized Companies (SMEs), in Brazil. The company provides a range of solutions and tools such as cash-in and cash-out options and provides access to working capital to help to manage its cash flow. It delivers an end-to-end digital ecosystem to address day-to-day financial needs, including receiving and spending funds and managing and growing businesses for clients. The company also offers the Free PagSeguro Digital Account delivering Cash-In Solutions, Online and In-Person Payment Tools, Online Payment Tools; and Web Check Outs offer tokenization, handling of shipping information, and others.
$2.5B
$4.0B
2.5x
Public
21
ClipClip is a Mexico City-headquartered digital payments and commerce platform that provides card readers, point-of-sale systems, and integrated financial services to small and medium-sized businesses across Mexico. Founded in 2012 by Adolfo Babatz, the company became Mexico's first payments unicorn in 2021 following a $250 million investment led by SoftBank Latin America Fund and Viking Global Investors, and counts General Atlantic, Ribbit Capital, Goldman Sachs, Banorte, and Amex Ventures among its backers. Its product range spans portable mPOS terminals (including Clip Mini, Clip Pro, and Clip Ultra), card-not-present payment acceptance, inventory and e-commerce software, and merchant financial services delivered under an Institution of Electronic Payment Funds (IFPE) license. Clip employs more than 900 people across offices in Mexico City, Guadalajara, Salt Lake City, Miami, and Buenos Aires.
$2.5B
–
–
Private
22
WellhubWellhub is a São Paulo-headquartered corporate wellness platform formerly known as Gympass, serving over 2000 companies worldwide. The service connects employees to 50,000 gyms, studios, and apps in 14 countries, promoting physical activity to boost engagement and performance.
$2.4B
–
–
Private
23
Banco InterInter & Co Inc operates as a digital bank. The company's segment includes Banking & Spending; Investments; Insurance Brokerage; and Inter Shop. It generates maximum revenue from the Banking & Spending segment which comprises a wide range of banking products and services, such as checking accounts, cards, deposits, loans and advances, and other services, which are available to the clients by means of Inter’s mobile application.
$2.4B
$1.7B
3.0x
Public
24
BitsoMexico City-headquartered Bitso serves as Latin America's leading cryptocurrency exchange. The platform supports trading of Bitcoin, Ethereum, and over 50 altcoins, with fiat on-ramps in local currencies across Mexico, Brazil, Argentina, Colombia, and El Salvador. Bitso enables mobile payments, remittances, and institutional custody services through its API integrations. Founded in 2014, the exchange processes millions in daily volume and partners with Mercado Pago for broader fintech accessibility in the region.
$2.2B
–
–
Private
25
CloudWalkCloudWalk is a São Paulo-headquartered financial technology platform that operates InfinitePay for payment terminals and Jim.com for digital banking services across Brazil. The company delivers point-of-sale devices, digital wallets, loans, and e-commerce tools powered by artificial intelligence to serve over 1 million small businesses and individuals. CloudWalk processes billions in transactions annually through its payment gateway and offers instant credit lines based on transaction data analysis. Founded in 2019, it has expanded to Mexico and Colombia, partnering with major retailers and banks to facilitate cashless payments in underserved markets. The platform's AI-driven fraud detection and dynamic pricing models enhance operational efficiency for merchants handling daily sales volumes.
$2.1B
–
–
Private
26
Mercado Bitcoin
$2.1B
–
–
Private
27
2TM2TM is a blockchain infrastructure provider for financial markets, headquartered in Sao Paulo, Brazil. Founded in 2013, it operates Mercado Bitcoin, Latin America's largest cryptocurrency exchange handling over $10 billion in annual volume. The platform facilitates secure trading, custody, and investment operations across 15 countries. 2TM supports institutional clients with staking services and tokenized assets on Ethereum and Solana networks.
$2.1B
–
–
Private
28
QI TechQI Tech is a fintech platform offering banking-as-a-service, credit origination, payments, and anti-fraud tools under SCD and DTVM licenses from Brazil's Central Bank. São Paulo-headquartered since 2018, it powers white-label solutions for e-commerce merchants and digital banks to launch compliant financial products.
$2.0B
$113M
17.7x
Private
29
LoggiLoggi is a São Paulo-headquartered logistics network revolutionizing last-mile delivery in Brazil. The company operates a tech-enabled platform connecting e-commerce retailers, SMBs, and individuals with same-day shipping services. Founded in 2013, Loggi utilizes proprietary routing algorithms and a fleet of motorcycles for urban deliveries across 1,500 municipalities. It supports major platforms like Magazine Luiza and Americanas in the on-demand economy.
$1.8B
–
–
Private
30
Somos Educação
$1.7B
–
–
Acquired
31
DespegarDespegar is a Miami-headquartered online travel agency targeting Latin American and Spanish-speaking markets in countries including Argentina, Brazil, Chile, Colombia, Mexico, Uruguay, and Spain. Founded in 1999, the company facilitates bookings for flights via airlines like LATAM and Aerolíneas Argentinas, hotel reservations through chains such as Accor, car rentals from Hertz, and bundled vacation packages for leisure and business travelers.
$1.7B
$761M
2.2x
Acquired
32
NeonNeon is a São Paulo-headquartered Brazilian fintech founded in 2016 offering digital banking services without maintenance fees. The platform provides debit and credit cards, personal loans, payroll advances, CDB investments, cashback rewards, and payment options tailored for individuals and micro-entrepreneurs via MEI Fácil. Serving 15 million customers with 1,600 employees, Neon processes billions in transactions annually.
$1.6B
–
–
Private
33
DockDock is a São Paulo-headquartered financial infrastructure provider in Latin America. Its cloud platform combines core banking, card issuing, and payment processing for Pix and boleto. Serving Mercado Livre and Nubank, it processes billions in transactions annually across Brazil, Mexico, and Colombia.
$1.5B
–
–
Private
34
KushkiNew York-headquartered Kushki delivers a payments platform optimized for Latin America, handling credit and debit cards, bank transfers, and cash collections at 300,000 physical points. The API enables seamless integration for e-commerce, mobile commerce, and in-store transactions across fragmented ecosystems. Operations cover Brazil, Chile, Colombia, Ecuador, Mexico, Peru, USA, and Canada. Launched in 2016, Kushki processes billions in volume for merchants like Despegar and serves enterprises scaling regional commerce.
$1.5B
–
–
Private
35
OlistSão Paulo-headquartered Olist serves as Brazil's leading commerce enabler for small and medium businesses, facilitating sales on major marketplaces through its integrated ecosystem. Olist Store connects merchants to platforms including Mercado Livre, Amazon, and Shopee, while Olist Shops delivers mobile-first ecommerce tools accessible in 180 countries. Complementing these, Olist Pax manages logistics and fulfillment across Brazil, and Olist Credit with Olist Pay handles financing and payments. Founded in 2015, Olist operates in over 2,000 Brazilian cities and pursues global expansion.
$1.5B
–
–
Private
36
NotCoNotCo is a Santiago, Chile-headquartered food technology company producing plant-based alternatives to meat, dairy, milk, and mayo using artificial intelligence to replicate animal product textures and flavors from ingredients like cabbage and pineapple. Its products, including NotBurger and NotMilk, are available in the United States through partnerships with Walmart and major retailers since launching in 2015.
$1.5B
–
–
Private
37
Arco EducacaoArco Educação is a São Paulo-based provider of K-12 educational content and platforms serving over 1.2 million students in 2,200 private schools across Brazil. The company delivers turnkey curricula in print and digital formats through its Plataforma Arco system, incorporating assessments and teacher tools. Listed on NASDAQ since 2018, Arco reports annual revenues exceeding 2 billion reais from São Paulo, Minas Gerais, and Paraná regions.
$1.5B
–
–
Acquired
38
PicPayPicS NV is a digital payments company. The company operates a peer-to-peer (P2P) transfer platform that enables individuals to send money via mobile devices. It provides digital wallets, instant payments (Pix), P2P transfers, credit cards, loans, investments, insurance, and SMB payment solutions. The company has four reportable segments: Consumer Banking, Small and Medium-Sized Businesses, Audiences and Ecosystem Integration, and Institutional. The majority of the company's revenue is derived from the Consumer Banking segment, which generates revenue from various transaction activities occurring in the digital wallet, such as Pix, peer-to-peer (P2P) transfers, and bill payments.
$1.5B
$2.0B
0.7x
Public
39
PrismaPrisma Medios de Pago SA is a Buenos Aires-based payment processing firm serving Argentina's financial sector. It delivers multi-channel transaction platforms supporting credit cards, QR codes, and digital wallets across retail, e-commerce, and POS terminals. Backed by Banco Galicia, the company processes billions in annual volume for merchants like supermarkets and online stores, utilizing fraud detection algorithms and API integrations for seamless operations.
$1.4B
–
–
Acquired
40
GlobantGlobant is a next-generation IT services company that primarily assists clients with their digital transformation efforts by creating customized software for them. The company was founded in 2003 in Argentina but is currently headquartered in Luxembourg and primarily serves clients in the US and Latin America. Globant’s client base is relatively concentrated in the media and entertainment and financial services industries.
$1.4B
$2.5B
0.7x
Public
41
KapitalKapital is a Mexico City-headquartered digital bank serving individual clients with core financial products. It maintains online accounts for deposits and payments, investment options in funds and stocks, and credit lines including personal loans. Users handle international transfers and utility bills through its mobile app available in Mexico and select Latin American markets.
$1.3B
–
–
Private
42
KonfioKonfio is a Mexico City-headquartered fintech platform delivering credit cards, working capital loans, and payment processing to small and medium enterprises throughout Mexico. Launched in 2013, it streamlines financing for over 100,000 businesses using alternative data for credit assessments. Partnerships with banks like BBVA expand its loan distribution, focusing on sectors such as retail and services in cities including Guadalajara and Monterrey.
$1.3B
–
–
Private
43
AfyaAfya Ltd is a medical education group based in Brazil. Its education portfolio has several courses in addition to Medicine, such as Management, Dentistry, Law, Engineering, Nursing, Psychology, and Accounting Sciences, among others. It has three segments; Undergrad provides educational services through undergraduate courses related to medical school, undergraduate health science and other ex-health undergraduate programs, Continuing Education provides medical education, specialization and graduate courses in medicine, delivered through digital and in-person content; and Medical practice solution provides clinical decision, clinical management and doctor-patient relationships for physicians and provide access, demand and efficiency for the healthcare players.
$1.3B
$726M
2.2x
Public
44
IncodeIncode is a Mexican (now HQ in San Francisco, CA) digital identity firm founded in 2015. The company develops biometric facial recognition products for banking, payments, hospitality, and retail. Recognized by the US government as a leader in enterprise-grade solutions, Incode serves major banks, governments, and retailers globally with offices in Europe and Latin America. Products ensure secure, frictionless verification for end-users.
$1.3B
$170M
7.4x
Private
45
EnterEnter is a generative AI platform designed for the legal sector, emphasizing global security and privacy standards. Headquartered in Tel Aviv, it integrates large language models to streamline legal workflows like research, drafting, and case management. Enter complies with GDPR, HIPAA, and SOC 2 certifications, serving enterprises in Europe and the US. Founded in 2023, the platform powers over 50 law firms with features for secure document collaboration.
$1.2B
$10M
120.0x
Private
46
StoriStori is a Mexico City-headquartered digital financial services provider. Stori Card delivers credit cards via mobile app to unbanked adults, using alternative data for credit scoring and offering cashback rewards. The platform includes savings accounts and remittances integrated with SPEI. Available nationwide, it partners with Visa for card issuance. Founded in 2018, Stori expanded to buy-now-pay-later options and serves middle-income segments in Latin America.
$1.2B
$300M
4.0x
Private
47
MeramaMerama acquires and scales e-commerce brands across Latin America, providing operational support and capital from Mexico City headquarters. Founded in 2020, the platform consolidates direct-to-consumer sellers in categories like beauty, home goods, and pet supplies, operating in Mexico, Brazil, and Colombia. Merama optimizes logistics with warehouses in São Paulo and Mexico City, driving growth for acquired brands through shared marketing and supply chain expertise.
$1.2B
–
–
Private
48
AgibankAGI Inc is a technology-powered provider of specialized financial services in Brazil. It empowers clients to access their social security benefits, severance fund benefits, and public or private sector payrolls through secured lending solutions and complementary banking, credit and insurance products tailored as per client needs. The company has one operating segment related to the banking business. The Bank provides a standardized set of financial products and services exclusively to individuals, mainly focused on credit, including digital accounts, cards, payroll and personal loans, and insurance offered through partners.
$1.1B
$1.3B
1.1x
Public
49
NowportsNowports is a digital freight forwarder platform using AI to manage real-time imports and exports from any port. Users request quotes, register products and providers, and book shipments securely through the Mexico City-headquartered service at nowports.com, serving Latin American trade routes.
$1.1B
–
–
Private
50
iCrediCred is a São Paulo-based fintech platform enabling personal credit and payroll-deducted loans through fully digital interfaces. Its API integrates with corporate payroll systems and business platforms, allowing instant approvals and disbursements for employees in Brazil.
$1.1B
$94M
11.2x
Private
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Data and methodology
Underlying data
Public markets data is powered by FactSet (consensus analyst estimates), and Morningstar (historical data). Data points are calendarized to December where relevant: retrieved data on financial year ends (e.g. FY, FY+1 etc.) are mapped to calendar years (2025A, 2026E etc.) before the appropriate month weights are then applied to prior/future fundamentals.
Private transaction data is multi-sourced, aggregated from harvesting public information, 3rd party APIs, and data engineering. All data is verified and provided with an extensive manual process. If data permits, we apply our own logic to get to the EV. For example, for a large M&A deal with available information on the target's net debt, we might adjust a valuation to fully reflect an accurate EV. In all other cases, we take the reported valuation as the numerator. Financials: we source LTM revenue and LTM EBITDA data from company filings, press releases, or other verified sources. If LTM data is unavailable, we take the 'next best-fit' period (run-rate or calendar year), provided it makes sense in a given case. For example, if a deal closed in November 2025, we might take full-year 2025 revenue as a revenue benchmark.
Any raw figures are harmonised to USD for comparison purposes.
This page is built on data available at Multiples. Sign up for a free trial to see the full dataset.
