Latin America (LATAM) has been a growing hub for software development startups and companies in recent years. Despite facing various challenges, including limited resources, lack of investment, and political instability, several LATAM startups have emerged as successful companies. In this blog, we will discuss some of the success stories of LATAM software development startups and companies.
Globant
Globant is a digital services company that was founded in Buenos Aires, Argentina, in 2003. The company has since expanded its operations globally, with offices in several countries, including Colombia, Uruguay, Brazil, and the United States. Globant offers a wide range of services, including digital strategy consulting, user experience design, and software development.
In 2014, Globant went public on the New York Stock Exchange, becoming the first Latin American software development company to do so. The company’s market value has since grown to over $8 billion, making it one of the most successful LATAM software development companies.
Nubank
Nubank is a Brazilian fintech company that was founded in 2013. The company offers a mobile-based credit card service that is accessible to anyone with a smartphone. Nubank has since expanded its services to include personal loans, digital accounts, and investment products.
Nubank has been recognized as one of the fastest-growing companies in Brazil, with over 40 million customers. The company has also received significant investment from international venture capital firms, including Sequoia Capital and Tencent Holdings.
MercadoLibre
MercadoLibre is an Argentine e-commerce company that was founded in 1999. The company operates in several Latin American countries, including Argentina, Brazil, Mexico, and Colombia. MercadoLibre’s platform allows users to buy and sell goods online, similar to eBay.
In 2007, MercadoLibre went public on the NASDAQ, becoming the first Latin American company to do so. The company’s market value has since grown to over $80 billion, making it one of the most successful e-commerce companies in the world.
Despegar
Despegar is an Argentine travel company that was founded in 1999. The company operates an online travel agency that allows users to book flights, hotels, and vacation packages. Despegar operates in several Latin American countries, including Argentina, Brazil, Mexico, and Colombia.
In 2017, Despegar went public on the New York Stock Exchange, becoming the first Latin American travel company to do so. The company’s market value has since grown to over $1 billion, making it one of the most successful travel companies in the region.
Rappi
Rappi is a Colombian delivery startup that was founded in 2015. The company offers a wide range of delivery services, including food, groceries, and pharmaceuticals. Rappi has since expanded its services to include financial products, such as loans and insurance.
Rappi has been recognized as one of the fastest-growing companies in Latin America, with operations in several countries, including Colombia, Brazil, Mexico, and Argentina. The company has received significant investment from international venture capital firms, including SoftBank and Andreessen Horowitz.
Cornershop
Cornershop is a Chilean delivery startup that was founded in 2015. The company offers a grocery delivery service that allows users to order groceries online and have them delivered to their door. Cornershop has since expanded its services to include delivery of other goods, such as electronics and home goods.
In 2018, Cornershop was acquired by Uber for $450 million, making it one of the most successful acquisitions of a LATAM startup. The company continues to operate as a subsidiary of Uber and has since expanded its services to several countries, including Mexico, Peru, and Brazil.
Platzi
Platzi is a Colombian online education startup that was founded in 2010. The company offers a wide range of online courses, including programming, design, and marketing. Platzi has since expanded its services to include live classes and personalized mentoring.
Platzi has been recognized as one of the most innovative education startups in the region, with over 1 million students in more than 30 countries. The company has received significant investment from international venture capital firms, including Y Combinator and Spark Capital.
Kavak
Kavak is a Mexican used car marketplace that was founded in 2016. The company offers a platform that allows users to buy and sell used cars online. Kavak has since expanded its services to include financing and insurance products.
Kavak has been recognized as one of the fastest-growing startups in Mexico, with operations in several cities, including Mexico City, Guadalajara, and Monterrey. The company has received significant investment from international venture capital firms, including SoftBank and General Atlantic.
NotCo
NotCo is a Chilean foodtech startup that was founded in 2015. The company offers plant-based food products that are made using artificial intelligence. NotCo’s products include mayonnaise, milk, and meat alternatives.
NotCo has been recognized as one of the most innovative foodtech startups in the region, with operations in several countries, including Chile, Brazil, and the United States. The company has received significant investment from international venture capital firms, including Bezos Expeditions and Kaszek Ventures.
Ualá
Ualá is an Argentine fintech company that was founded in 2017. The company offers a mobile-based banking service that includes a debit card and a digital wallet. Ualá has since expanded its services to include personal loans and investment products.
Ualá has been recognized as one of the most innovative fintech startups in the region, with over 3 million users in Argentina and Mexico. The company has received significant investment from international venture capital firms, including Goldman Sachs and Ribbit Capital.
In conclusion, these success stories demonstrate the potential of LATAM software development startups and companies. Despite facing various challenges, including limited resources and political instability, these companies have managed to achieve significant success in their respective industries. As the region continues to develop and grow, we can expect to see more innovative startups emerge and succeed in the future.
