🦄 The Unicorns of Latin America - June 2025

There are now 38 private unicorns in 🌎 Latin America. The majority of them operate in fintech and payments.

The majority of LatAm's unicorns come from 🇧🇷 Brazil, but the king is 🇨🇴 Colombian - Rappi, valued at over $5B and rumored to go public multiple times already.

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.

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