10 Latin American Startups to Watch in 2024
Latin America's entrepreneurial landscape is burgeoning with innovation, and 2023 is a pivotal year showcasing this progress. The region has birthed unicorns like Nubank and Rappi, but the real excitement lies in the up-and-coming startups. These rising stars are not just transforming their industries; they are reshaping the region's economic fabric. At LeadGenius, we've combed through over 350 companies to bring you the top 10 Latin American startups to watch this year.
We analyzed 350+ companies and identified 10 Latin American startups to keep your eye on in 2024:
Based in São Paulo, Mecanizou is reinventing the auto parts industry with data intelligence. Connecting mechanic shops and resellers to suppliers, this startup has seen a 10x revenue increase and 70% monthly customer growth since its 2020 inception, raising $14M this past March.
Nexu, a Y Combinator alumnus, is changing the car buying experience in Mexico. Offering instant loans for car purchases, Nexu raised $50M in January 2022, signaling a strong growth trajectory and a 31% staff increase over the last year.
This Mexican enterprise is simplifying financing for SMBs across Latin America. With a recent $20M raise and a $100M lending facility, R2 is a game-changer for payment processors and marketplaces seeking to finance SMBs, growing its team by 107% in the past year.
Henry is transforming developer education in Latin America. Offering training for free and in return for a share of future income, Henry raised $10M in May 2022, marking significant growth in this innovative education model.
Brazil's Eureciclo is bridging the gap between consumer goods brands and recyclers. With a $19M Series B round, the company is at the forefront of promoting recycling and social responsibility, having expanded its team by 21% last year.
Nowports, a Mexican digital freight forwarder, has entered the unicorn club. Its AI and big data-driven platform has raised $150M, enhancing the import and export chain and expanding rapidly, particularly in Brazil.
NotCo is transforming the global food industry with AI-powered vegan technology. Collaborating with major brands like Starbucks and Burger King, NotCo's innovative approach to plant-based foods has attracted a $70M Series D investment.
Neon, a Brazilian digital bank, caters to medium and low-income users. With a $306M Series D round, Neon offers a range of services including credit cards and personal loans, solidifying its unicorn status.
Merama is rapidly growing in the LATAM e-commerce space. Partnering with online brands for growth and profit, Merama raised $60M for a valuation of $1.2B, just a year after its inception.
Founded just before the pandemic, Osana is revolutionizing healthcare in LATAM with its API-connected infrastructure. The company, serving over 6 million patients, raised $27M in August 2021.
The Brains Behind the Innovation
These startups' success is not just about technology but also about the people leading them. Eureciclo, Mecanizou, Merama, Neon, NotCo, Nowports, and Osana have made strategic executive hires, bringing in talent from industry giants to drive their growth.
The Bright Future Ahead
These 10 startups signify Latin America's growing influence in the global digital economy. Their cutting-edge technologies and innovative models position them not just for regional success but as global market contenders.
At LeadGenius, we specialize in creating custom data sets, like the ones used to identify these top Latin American startups. Whether you're exploring new markets or tracking industry trends, our data experts can tailor data sets to your unique needs.