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 $75.6B, followed by Nubank ($58.4B).
67% of LatAm's unicorns was born in Brazil, followed by Mexico (16%) and Argentina (7%).
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 is a publicly listed e-commerce and financial technology company founded in Buenos Aires in 1999 by Marcos Galperin. It operates an online marketplace, the Mercado Pago payments and credit business, the Mercado Envios logistics network and an advertising unit across eighteen Latin American countries. The company is incorporated in Delaware, trades on the Nasdaq under the symbol MELI and has its headquarters in Montevideo, Uruguay. It reported revenues of 28.9 billion dollars for 2025 and operating income of 3.2 billion dollars, with about 123,670 employees. Its commerce and fintech services reached 131 million unique buyers over the twelve months to the second quarter of 2026. The company has grown through acquisitions of classifieds portals, logistics and payments businesses and through minority investments made partly through its corporate venture fund.
$75.6B
$28.9B
2.9x
Public
2
NubankNubank is a digital banking platform headquartered in Sao Paulo, Brazil, operated by the listed holding company Nu Holdings Ltd (NYSE: NU). It was founded on 6 May 2013 by David Velez and began with a no-fee credit card managed entirely from a mobile app. The group now offers accounts, credit cards, personal loans, insurance and investment products to retail customers in Brazil, Mexico and Colombia. In the first quarter of 2026 it reported 135.2 million customers worldwide, 115 million of them in Brazil, and quarterly revenue above USD 5 billion. It has grown partly through acquisitions, including Plataformatec, Cognitect, Easynvest, Olivia and Hyperplane, and in July 2026 agreed to acquire Banco Porto Real de Investimentos to obtain a Brazilian banking licence. It also invests in fintech start-ups abroad, such as Tyme Group.
$58.4B
$10.6B
5.5x
Public
3
XP InvestimentosXP Investimentos is a Brazilian financial services group and investment platform founded in 2001 by Guilherme Benchimol and Marcelo Maisonnave and headquartered in Sao Paulo. It began as an independent brokerage that trained investors and distributed financial products through independent advisers, and it is now listed on the Nasdaq through XP Inc. with Brazilian depositary receipts on B3. The group offers brokerage, fixed income, equities, investment funds, private pension and other products on an open platform, with the Clear and Rico brands. It reported more than 3 million active clients and more than USD 130 billion in custody. From 2021 it bought minority stakes in independent asset managers and research houses and acquired Banco Modal in 2022.
$7.5B
$1.4B
11.7x
Public
4
iFoodiFood is a Brazilian online food ordering and delivery platform founded in 2011. It connects diners with restaurants, supermarkets, pharmacies and other stores, and its app records more than 180 million orders a month with a base of 600,000 registered couriers. The company has widened into grocery delivery, in-restaurant software, advertising and financial services through iFood Pago. It is controlled by Prosus together with the Brazilian mobile commerce group Movile, which took majority ownership in 2014. Prosus bought out Just Eat Takeaway.com's remaining 33% in 2022. iFood announced an investment plan of R$24 billion in Brazil for April 2026 to March 2027, and has bought regional delivery services, software companies and startups.
$5.4B
$991M
5.4x
Acquired
5
BM&FBM&F is the Brazilian Mercantile and Futures Exchange, a derivatives exchange based in Sao Paulo that lists futures and options on interest rates, currencies, indices and commodities. It was founded in 1985 as a member-owned exchange and demutualised in 2007 as part of a conversion to a for-profit company. The exchange also operated clearing services for the contracts traded on it. In 2008 it merged with the Bovespa Holding stock exchange to form BM&FBovespa, which was later renamed B3. General Atlantic held about 5 percent of the combined group. The exchange earned fees on contracts traded and cleared, and its customers were banks, brokers, corporations and investors.
$5.4B
–
–
Private
6
RappiRappi is a Colombian super app that connects consumers with restaurants, supermarkets, pharmacies and specialty stores for on-demand delivery. It was founded in Bogota in 2015 by Simon Borrero, Sebastian Mejia and Felipe Villamarin and took part in Y Combinator in 2016. The company operates in Latin American countries including Colombia, Mexico, Brazil, Argentina, Chile, Peru, Uruguay, Ecuador and Costa Rica, with offices in Bogota, Sao Paulo and Mexico City. Beyond delivery it offers a Prime subscription, retail media advertising, a fast-delivery grocery format called Turbo and financial services through RappiPay. Its investors include SoftBank, Sequoia Capital, Andreessen Horowitz, DST Global, T. Rowe Price and Amazon, and it reached unicorn status in 2018. The company has been preparing for a possible public listing.
$5.3B
–
–
Private
7
Serasa ExperianSerasa Experian is a Brazilian credit bureau and data company, legally Serasa S.A., headquartered in Sao Paulo and founded in 1968. It sells credit information, risk analysis, authentication and fraud prevention, collections tools and consumer credit services such as the Serasa Score. Experian plc bought control in 2007 and reached 99.6% of the capital in 2012, and the Brazilian business now trades under the combined name. It describes itself as the first and largest datatech in Brazil, protecting more than 2.2 billion commercial transactions a year and handling more than 6.5 million daily queries on companies and consumers. Since 2020 it has completed 17 acquisitions worth close to BRL 2.5 billion according to Brazilian trade press, among them BrScan, AllowMe, Agrosatelite, Mova, TEx, ClearSale and idwall. It also runs an open innovation programme that invests in startups.
$5.2B
$729M
7.1x
Acquired
8
QuintoAndarQuintoAndar is a Brazilian real estate platform that handles the rental, purchase and sale of homes online. It was started in 2013 by Gabriel Braga and Andre Penha and is headquartered in Sao Paulo, where it employs about 3,000 people. For rentals it collects the rent and pays the owner, so tenants do not need a guarantor, a surety bond or a deposit. The company added home sales in 2019 and later built mortgage, title and escrow services around the marketplace. It operates in more than 70 Brazilian cities and has expanded into Mexico. QuintoAndar raised venture rounds from Kaszek, General Atlantic, SoftBank, Ribbit Capital, Greenoaks and Tencent, and was valued at US$5.1 billion in 2021. It has bought Sindico.Net, Casa Mineira, Atta, Velo, the real estate classifieds operations of Navent and Noknox.
$5.1B
–
–
Private
9
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
10
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
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.
$4.3B
$29.7B
0.5x
Public
12
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 operates in a single operating segment, which is payment processing. The company's geographical segments include Latin America and Non-Latin America, with a majority of its revenue being generated from Brazil in the Latin America region.
$4.0B
$1.1B
2.9x
Public
13
TOTVSTOTVS is a Brazilian software company headquartered in Sao Paulo and listed on the B3 under the ticker TOTS3. It was founded in 1983 as Microsiga by Laercio Cosentino and Ernesto Haberkorn and took its present name after the merger with Logocenter in 2005. It sells enterprise resource planning software, financial technology services through its Techfin unit, a joint venture with Itau Unibanco, and marketing and sales automation through RD Station. It serves more than 70,000 clients in twelve segments of the Brazilian economy, has about 12,000 employees and reported revenue of BRL 5.38 billion in 2024. It has made more than fifty acquisitions, including Datasul in 2008, Bematech in 2015, RD Station in 2021 and Linx in 2025.
$3.3B
$1.0B
3.7x
Public
14
CreditasCreditas is a Brazilian financial technology company that offers loans secured by homes, cars and payroll, together with insurance and a used-car marketplace. It was founded in 2012 by Sergio Furio as BankFacil and renamed Creditas in 2017. The company funds its loans largely through securitisation vehicles and, since the closing of its purchase of Bank Andbank Brasil in late 2025, holds a banking licence. Its Series G round of USD 108 million in December 2025 was led by Andbank at a post-money valuation of USD 3.3 billion, down from USD 4.8 billion in 2022. Earlier backers include SoftBank, Fidelity, Kaszek, QED Investors, VEF, Lightrock and Amadeus Capital. Acquisitions include Creditoo, Bcredi, Minuto Seguros, Volanty and Kzas, and it holds an investment in the electric motorcycle maker Voltz.
$3.3B
$398M
8.3x
Private
15
UaláUalá is an Argentine financial technology company that runs a digital banking platform for consumers and merchants across Argentina, Mexico and Colombia. It was founded in 2017 by Pierpaolo Barbieri and started with a mobile app linked to a prepaid Mastercard card. The app now offers debit and credit cards, transfers, bill payments, loans, investment funds, insurance and a remunerated account, while its merchant arm Ualá Bis provides card acceptance. Ualá bought the digital bank Wilobank in Argentina, the Mexican bank ABC Capital, the buy-now-pay-later lender Ceibo Creditos and the e-commerce platform Empretienda. It became a unicorn in August 2021 with a USD 350 million Series D and was valued at USD 3.2 billion after a USD 195 million round in March 2026. The company serves more than 11 million customers.
$3.2B
–
–
Private
16
NuvemshopNuvemshop, known as Tiendanube in Spanish-speaking markets, is a Latin American e-commerce platform that lets merchants build and run online stores. It was founded in 2011 in Buenos Aires by Santiago Sosa, Alejandro Vazquez, Martin Palombo, Alejandro Alonso and Jose Abuchaem, and it is now headquartered in Sao Paulo. The platform is sold as a subscription service and adds payments through Nuvem Pago, shipping through Nuvem Envio, marketing automation and conversational sales tools. It reports more than 180,000 active brands, merchant sales above R$6.5 billion in 2025 and about 1,200 employees. Backers include Kaszek, Elevar Equity, Qualcomm Ventures, Accel, Insight Partners and Tiger Global. A US$500 million Series E in August 2021 valued the company at US$3.1 billion. It bought the logistics platform Mandae in 2021, the education company Ecommerce na Pratica in 2021 and the marketing automation company Perfit in 2023.
$3.1B
–
–
Private
17
Wildlife StudiosWildlife Studios is a Brazilian mobile gaming company founded in 2011 by brothers Arthur and Victor Lazarte. It operates a freemium gaming platform that has launched more than 60 titles, including Zooba, Tennis Clash, and Sniper 3D, accumulating over 2 billion downloads and 100 million monthly active users. The company also supports third-party game developers on its platform, alongside its own studio output.
$3.0B
–
–
Private
18
CornershopCornershop is an online grocery delivery platform founded in 2015 by Oskar Hjertonsson, Daniel Undurraga and Juan Pablo Cuevas and headquartered in Santiago, Chile. Customers order from supermarkets, pharmacies and specialty stores through a mobile app, and independent shoppers pick and deliver the order, usually within about an hour. The company started in Santiago and Mexico City in 2015 and later added Peru and Toronto. It raised venture rounds from ALLVP, Accel, Creandum and Jackson Square Ventures. A planned acquisition by Walmart for USD 225 million was blocked by Mexican authorities in 2019, and Uber then acquired majority ownership, with the remaining interest of about 47 percent bought in 2021 for Uber shares. Cornershop now operates as part of Uber's delivery business and describes itself as the largest home delivery platform in Mexico and Chile.
$3.0B
–
–
Acquired
19
LoftLoft is a Brazilian real estate company founded in 2018 by Mate Pencz and Florian Hagenbuch and based in Sao Paulo. It began by buying apartments, renovating them and reselling them, using data and pricing models to value each unit. It then added a marketplace for brokers, with about 30,000 partner brokers, and mortgage origination, becoming one of the three largest mortgage originators in Brazil within a year of launch. Loft raised about US$800 million of equity from Andreessen Horowitz, Fifth Wall, D1 Capital, Baillie Gifford and others and was valued at US$2.9 billion in 2021. It bought Decorati, Spry, Uotel, Invest Mais, CredPago, CrediHome, TrueHome, 123i and Vista Software. In 2022 it transferred its short-term rental unit Nomah to Casai in exchange for a stake in the merged company.
$2.9B
–
–
Private
20
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
21
ClipClip is a Mexican payments company that supplies card readers and point-of-sale services to small and medium-sized merchants. Merchants accept debit and credit cards on a smartphone or terminal and pay a processing fee on each sale, with instalment options through partner banks. The company has added merchant lending, bill payment and airtime sales, and says payments account for more than 85 percent of its business. It was founded by Adolfo Babatz and Vilash Poovala, both former PayPal employees, and is headquartered in Mexico City. Investors include SoftBank, Viking Global, General Atlantic and American Express Ventures. A USD 250 million round in June 2021 valued it near USD 2 billion, and a USD 500 million round was reported in June 2026 at a valuation above USD 2.5 billion.
$2.5B
–
–
Private
22
BitsoBitso is a Mexican financial services company built around a cryptocurrency exchange, founded in January 2014 by Daniel Vogel, Ben Peters and Pablo Gonzalez and headquartered in Mexico City. It lets customers buy, sell, hold and transfer cryptocurrencies against Mexican pesos, Argentine pesos, Colombian pesos, US dollars and Brazilian reais, and also offers payments, savings and stock investing. It has local operations in Argentina, Brazil, Colombia, the United States and Mexico. Spanish-language Wikipedia reports about 8 million users in December 2023, up from roughly one million at its Series B in December 2020. It raised USD 250 million in 2021 at a valuation of about USD 2.2 billion, and its own acquisitions are Unisend Mexico in 2015 and Quedex in 2021. Its Bitso Business unit serves companies with cross-border payments.
$2.2B
–
–
Private
23
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.
$2.2B
–
–
Private
24
Mercado BitcoinMercado Bitcoin is Latin America's largest bitcoin exchange and Brazil's biggest crypto exchange by market valuation. Founded in 2013, it is part of the 2TM holding company, which also provides digital asset custody through Bitrust and multi-asset wallets through Meubank. The exchange had grown to more than 3 million clients by late 2021.
$2.1B
–
–
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
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.
$2.1B
$3.7B
2.7x
Public
27
2TM2TM is a Brazilian holding company that owns Mercado Bitcoin and other providers of solutions in crypto and blockchain. The group was born in 2013 and describes its flagship platform as the largest digital asset platform in Latin America, with a base of more than four million clients. Its sister businesses include a digital custodian, an asset tokenizer, an equity crowdfunding platform and an educational arm. SoftBank's Latin America fund led a US$200 million Series B in 2021 that valued the group at US$2.1 billion, followed by a US$50.3 million second closing, and Mercado Libre bought shares in January 2022. In 2021 and 2022 the group bought Par Mais, Portal do Bitcoin, Blockchain Academy, CriptoLoja and Wuzu, and it launched a venture unit, 2TM Ventures, in December 2021. The company is registered in Sao Paulo and in July 2026 announced a Series C first closing of about R$100 million led by Tether.
$2.1B
–
–
Private
28
QI TechQI Tech is a Brazilian financial infrastructure company that gives businesses the technology to launch banking, lending, payments and anti-fraud products through application programming interfaces. It was founded in 2018 by Pedro Mac Dowell, who is chief executive, and describes itself as the first direct credit company (SCD) approved by the Brazilian Central Bank. Its product lines include banking as a service, lending as a service, risk solutions for onboarding and fraud prevention, and the administration and custody of investment funds. Its website reports R$494 billion in Pix payments processed, more than R$107 billion in credit issued and R$181 billion under administration. Clients include 99, Shopee and QuintoAndar. The company raised a Series A led by GIC in 2021, a Series B led by General Atlantic in 2023 and two extensions of that round in 2024 and 2025, and it has grown through acquisitions including Zaig, Builders Bank, Singulare and Autobanking.
$2.0B
$113M
17.7x
Private
29
LoggiLoggi is a Brazilian logistics technology company founded in July 2013 in Sao Paulo by Fabien Mendez and Arthur Debert. It runs a delivery network for e-commerce sellers, small and medium businesses and large retailers, with shipping by postal drop-off, collection and local courier, and a network of collection points in retail stores. The company has raised more than USD 500 million from investors including Monashees, SoftBank, GGV, Microsoft and Sunley House, became a unicorn in 2019 and was valued near USD 2 billion in its 2021 round. In 2026 it reported gross revenue of R$269.5 million in the first quarter, named Rafael Szarf as chief executive and targeted annual revenue of about R$1.5 billion. It sold logistics assets in Sao Paulo and Rio de Janeiro to Mercado Livre in 2026.
$1.8B
–
–
Private
30
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. The brands of the company include: Stone: For small and medium-sized businesses, all management is integrated with the payment terminal, business bank account, and card, all within the same app. Ton: For micro-entrepreneurs and freelancers, modern card machines, sales via Pix or TapTon, and a Super Account. Stone pagar.me for those who sell online. Digital payment technology for all types of businesses.
$1.8B
$2.4B
1.2x
Public
31
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 Inters mobile application.
$1.7B
$1.5B
1.1x
Public
32
Somos EducaçãoSomos Educação is a Brazilian education group focused on basic (K-12) education. It provides learning systems, educational publishers and school solutions to schools across Brazil. Kroton Educacional acquired a controlling stake in 2018.
$1.7B
–
–
Acquired
33
DespegarDespegar is an online travel company based in Buenos Aires, Argentina, that sells flights, hotels and vacation packages to customers across Latin America. Prosus acquired it in December 2024.
$1.7B
$761M
2.2x
Acquired
34
NotCoNotCo is a Chilean food technology company founded in 2015 by Matias Muchnick, Pablo Zamora and Karim Pichara and based in Santiago. It uses an artificial intelligence platform named Giuseppe to analyse the molecular structure of animal-based foods and find plant combinations that match their taste and texture. Its brands include NotMilk, NotMayo, NotBurger, NotIceCream and NotChicken, sold in Chile, Argentina, Brazil, Colombia and the United States. The company raised more than US$350 million from Kaszek, Bezos Expeditions, L Catterton, Tiger Global and others and was valued at US$1.5 billion in 2021. It now licenses its artificial intelligence to other food manufacturers, and a joint venture with Kraft Heinz was announced in 2021. In June 2026 Molinos Rio de la Plata agreed to buy its business in Argentina and Uruguay.
$1.5B
–
–
Private
35
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
36
KushkiKushki is a payments company that provides an integrated payment platform for merchants across Latin America. Its single API covers card, bank transfer, cash and wallet payments for e-commerce, mobile commerce and physical stores. The company was founded in 2017 by Ecuadorian entrepreneurs Sebastian Castro and Aron Schwarzkopf and operates in Ecuador, Colombia, Peru, Chile and Mexico. It raised a USD 8 million Series A in 2020, an USD 86 million Series B at a USD 600 million valuation in 2021 and a USD 100 million extension at USD 1.5 billion in 2022, becoming Ecuador's first unicorn. Kushki bought the Chilean gateway QVO in 2019 and the Mexican payments company Billpocket in 2022, both already recorded.
$1.5B
–
–
Private
37
OlistOlist is a Brazilian software company that sells an enterprise resource planning system and a marketplace integration hub to small and medium-sized online and offline retailers. Merchants use it to list products on large marketplaces, manage orders, stock and shipping, and receive payments and credit through its financial services. It was founded by Tiago Dalvi and is headquartered in Curitiba. Backers include SoftBank, Wellington Management, Goldman Sachs Asset Management, Valor Capital Group and Redpoint eventures. A USD 186 million Series E in December 2021 valued the company at USD 1.5 billion. It bought Clickspace, PAX, VNDA and Tiny between 2020 and 2021, and in 2025 acquired the credit fintech Flip while arranging a BRL 90 million receivables fund.
$1.5B
–
–
Private
38
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
$363M
4.1x
Acquired
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
NeonNeon is a Brazilian digital bank, operated through Neon Pagamentos, that offers current accounts, credit cards, personal loans, fixed-income investments and Pix payments through a mobile app with no physical branches. It was founded in 2016 by Pedro Conrade and serves mainly lower-income retail customers and micro-entrepreneurs. The company reported more than 15 million clients in 2022, and BBVA became its largest outside shareholder after investing USD 300 million in February 2022. Other shareholders include General Atlantic, Banco Votorantim, Vulcan Capital, BlackRock, PayPal Ventures, Monashees, Flourish Ventures, the International Finance Corporation and DEG. Neon extended its offer through the acquisitions of MEI Fácil in 2019, Magliano Invest in 2020 and ConsigaMais+ in 2020. It reached breakeven in 2024 after revenue growth of 50% in the year.
$1.4B
–
–
Private
41
KonfioKonfio is a Mexican financial technology company that provides working capital loans, business credit cards and payment tools to small and medium-sized businesses that traditional banks underserve. It uses data science and alternative data to underwrite loans through a fully online process. The company was founded by David Arana and Francisco Padilla and launched its first loan product in 2014. It raised a Series E of US$235 million in 2021 at a valuation of US$1.3 billion, making it one of Mexico's unicorns. Its shareholders include SoftBank, Lightrock, QED Investors, Kaszek, VEF, Tarsadia Capital and the International Finance Corporation. Konfio extended its offer through the acquisitions of the payments terminal provider Sr. Pago, the cloud accounting software developer Gestionix and the Astro platform. It has applied for a Mexican banking licence.
$1.3B
–
–
Private
42
JOKRJOKR is an online supermarket and instant grocery delivery app that operates as Daki in Brazil. Customers order groceries and local brands in the app and get them delivered within minutes. Its operating headquarters is in São Paulo, and the legal entity is registered in Luxembourg.
$1.3B
–
–
Private
43
KapitalKapital is a technology-led financial institution serving small and medium-sized businesses in Mexico and Colombia. Its platform combines business accounts and credit with cash-flow visibility, expense management, invoicing, payroll and other operating tools, using data and artificial intelligence to automate underwriting and financial workflows. The company became a regulated bank through its acquisition of Banco Autofin México and later added Intercam's Mexican banking, brokerage, fund-management and fiduciary operations. These acquisitions expanded Kapital from a fintech lender into a broader financial group for business customers.
$1.3B
–
–
Private
44
StoriStori is a Mexican consumer fintech that issues credit cards and offers deposit accounts, personal loans and merchant card acceptance through a mobile app. It targets the mass-middle and emerging-middle income population that has little or no credit history. The company was founded in 2018 by Bin Chen, Marlene Garayzar and partners, launched its card in January 2020 and says it has served more than 3 million customers. It earns revenue from interest and interchange fees on card spending. Stori raised a US$125 million Series C equity round in November 2021, extended it with US$50 million of equity at a US$1.2 billion valuation in July 2022, and raised US$105 million of equity in August 2024 alongside US$107 million of debt. It bought the licensed deposit-taking entity MasCaja in 2023 to obtain a Sofipo license, and in 2025 announced that it was being absorbed into Savvi Financieros, a licensed Sofipo.
$1.2B
–
–
Private
45
EnterEnter is a São Paulo legal-tech company founded in 2023 that sells AI agents to enterprise legal teams for mass litigation, handling lawsuit analysis and responses. Its customers include Agibank and LATAM Airlines.
$1.2B
–
–
Private
46
NowportsNowports is a Mexican digital freight forwarder that moves ocean, air and ground freight for importers and exporters in Latin America, with an emphasis on small and medium-sized enterprises. Its platform gives customers shipment tracking, cargo insurance and trade financing alongside the freight service. The company was founded in 2018 in Monterrey and joined the Winter 2019 batch of Y Combinator. It raised a USD 150 million Series C in May 2022 led by SoftBank Latin America Fund at a valuation of USD 1.1 billion, becoming the first logistics unicorn of Spanish-speaking Latin America. Earlier rounds were led by Base10 Partners and Monashees, Mouro Capital and Tiger Global. Nowports operates offices across Mexico, Brazil, Chile, Colombia, Peru, Panama and Uruguay and opened a United States office in Miami.
$1.1B
–
–
Private
47
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
48
EBANXEBANX is a Curitiba-headquartered payments processor enabling cross-border e-commerce in Latin America with local methods like Pix, Boleto, and installments. It powers transactions for Netflix, Spotify, AliExpress, and Uber across Brazil, Mexico, Colombia, and Chile. Founded in 2012, the company handles billions in annual volume through its Smart2Pay acquisition.
$1.0B
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Private
49
ClaraClara is a spend management platform for Latin America. It offers corporate cards, expense automation, accounts payable and banking to companies in Mexico, Brazil and Colombia.
$1.0B
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Private
50
MadeiraMadeiraMadeiraMadeira is a Brazilian online retailer of furniture, decoration and home products based in Curitiba. It was founded in 2009 by the brothers Daniel and Marcelo Scandian after the family flooring business was hit by the financial crisis, and it grew into the largest online platform for home items in Brazil. Its model combines its own sales with a marketplace of suppliers, using drop-shipping so that stock stays with the supplier while the company runs the technology and logistics, including the Bulky Log delivery unit created in 2019. It also operates physical Guide Shops and reports more than 10 million customers served. Investors include SoftBank, Dynamo, Monashees, Kaszek and Flybridge, and a US$190 million round in January 2021 valued it above US$1 billion. It bought iTrack Brasil in June 2021, the Brazilian operation of IguanaFix in April 2022 and Casatema in August 2022.
$1.0B
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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.
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BM&FBM&F is the Brazilian Mercantile and Futures Exchange, a derivatives exchange based in Sao Paulo that lists futures and options on interest rates, currencies, indices and commodities. It was founded in 1985 as a member-owned exchange and demutualised in 2007 as part of a conversion to a for-profit company. The exchange also operated clearing services for the contracts traded on it. In 2008 it merged with the Bovespa Holding stock exchange to form BM&FBovespa, which was later renamed B3. General Atlantic held about 5 percent of the combined group. The exchange earned fees on contracts traded and cleared, and its customers were banks, brokers, corporations and investors.
