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1. TRACXN TOP BUSINESS MODELS REPORT
December 15, 2021
LATAM TECH

2. Latam Tech - Top Business Models Report Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Contents
LatamLatam Tech Funding - Overview 3
Top Funded Business Models 4
One pagers 9
Appendix 59
2

3. Latam Tech - Top Business Models Report Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Funding in last 1 year
3
Payments $2.0B
Banking Tech $1.6B
Auto E-Commerce & Content $1.2B
Residential Real Estate Tech $999M
Disease Self Management $524M
Cryptocurrencies $496M
Y-o-Y Funding
Top Investors by Funding Rounds
Seed
Stage
Y Combinator
FJ Labs
Magma Partners
63
8
6
Early
Stage
Kaszek Ventures
FJ Labs
Monashees
15
12
11
Late
Stage
Kaszek Ventures
Monashees
Tiger Global Management
9
8
7
Funding by Geography
Top Feeds by $ Funding
Top Funding Rounds
$ Funding # Rounds
Nubank
(2013, )
$750M - Series G
Kavak
(2016, )
$700M - Series E
Wecancer
(2015, )
$521M - Series D
Rappi
(2015, )
$500M - Series F
Tiendanube
(2010, )
$500M - Series E
Nuvemshop
(2011, )
$500M - Series E
Kavak
(2016, )
$485M - Series D
Loft
(2018, )
$425M - Series D
Nubank
(2013, )
$400M - Series G
EBANX
(2012, )
$400M - Series C
Uala
(2016, )
$350M - Series D
QuintoAndar
(2012, )
$300M - Series E
Sao Paulo (41%)
Mexico City (9%)
Chihuahua (8%)
Buenos Aires (8%)
Bogota (6%)
Others (27%)

4. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Latam Tech - Top Funded Business Models - last 1 year (1/5)
4
Rank Business Model $ Funding # Rounds Top Funding Round Details
1▲4 Online Used Cars Dealers $1.2B 2 Kavak | $700M | Series E Link
2▲18 E-Commerce Storefronts $1.2B 5 Tiendanube | $500M | Series E Link
3<> 0 Digital Native Banks $1.2B 3 Nubank | $750M | Series G Link
4▲2 iBuying Platforms $545M 3 Loft | $425M | Series D Link
5-- Cancer Detecting App $521M 1 Wecancer | $521M | Series D Link
6▲13 Crypto Trading Platforms $488M 3 Bitso | $250M | Series C Link
7▲61 Internet First Residential Real Estate Brokers $441M 3 QuintoAndar | $300M | Series E Link
8-- Business Payments Solutions $400M 1 EBANX | $400M | Series C Link
9-- Internet First NFC Prepaid Cards $350M 1 Uala | $350M | Series D Link
10-- Merchant Acquirer Companies $340M 2 CloudWalk | $190M | Series B Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

5. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Latam Tech - Top Funded Business Models - last 1 year (2/5)
5
Rank Business Model $ Funding # Rounds Top Funding Round Details
11▲67 Internet First Business Loans $272M 5 Konfío | $125M | Series E Link
12-- Blockchain in Financial Services $250M 3 2TM | $200M | Series B Link
13-- POS Payment Terminals $250M 1 Clip | $250M | Series D Link
14-- Group Buying Platforms $250M 1 Facily | $250M | Series D Link
15▼4 Plant Based Seafood Substitutes $246M 2 NotCo | $236M | Series D Link
16-- Employee Insurance Benefits Administration $235M 2 Konfío | $125M | Series E Link
17▲74 Financial Benefits $235M 4 Konfío | $125M | Series E Link
18-- Accounts Receivables Payment Solutions $235M 2 Konfío | $125M | Series E Link
19-- Hyperlocal Delivery $205M 4 Rappi | $500M | Series F Link
20▼5 Truck Booking Marketplace $200M 2 Cargo X | $200M | Series F Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

6. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Latam Tech - Top Funded Business Models - last 1 year (3/5)
6
Rank Business Model $ Funding # Rounds Top Funding Round Details
21-- Home Furnishing Products Marketplaces $190M 1 MadeiraMadeira | $190M | Series E Link
22▲10
B2B E-Commerce > Food & Beverages > Groceries >
Farm Products > Marketplace
$163M 3 Frubana | $94.1M | Series C Link
23▼10 KYC for Financial Institutions $161M 2 Unico | $121M | Series C Link
24▲9 B2B Fruits and Vegetables Marketplace $159M 2 Frubana | $94.1M | Series C Link
25▲21 Internet First Credit Cards $158M 2 Stori | $125M | Series C Link
26▼4 Online Pet Products Retailers $150M 1 Pet Love | $150M | Series C Link
27--
Internet First Banks for Businesses with Partner
Bank's License
$143M 2 Cora | $116M | Series B Link
28-- Bus Aggregators $138M 1 Buser | $138M | Series C Link
29-- Online Shuttle Aggregators $138M 1 Buser | $138M | Series C Link
30▼2 Internet First Point of Sale Financing $130M 5 Addi | $75.0M | Series B Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

7. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Latam Tech - Top Funded Business Models - last 1 year (4/5)
7
Rank Business Model $ Funding # Rounds Top Funding Round Details
31-- E-Commerce Software Suite $130M 2 Hotmart | $130M | Series C Link
32-- Financial Planning & Analysis Software $125M 2 isaac | $125M | Series B Link
33▼21 Physiological Biometrics $121M 1 Unico | $121M | Series C Link
34▼30 Facial Biometric Systems $121M 1 Unico | $121M | Series C Link
35▼21 Facial Recognition $121M 1 Unico | $121M | Series C Link
36-- Online Agriculture Payments $120M 1 Ectare | $120M | Series D Link
37-- ERP for SMBs $114M 3 Omie | $112M | Series C Link
38-- CRM for SMB $112M 1 Omie | $112M | Series C Link
39-- Banking Software Suite $108M 1 Pismo | $108M | Series B Link
40-- Station Based Intercity Car Rentals $104M 1 Kovi | $104M | Series B Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

8. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Latam Tech - Top Funded Business Models - last 1 year (5/5)
8
Rank Business Model $ Funding # Rounds Top Funding Round Details
41-- Internet First Corporate Credit Card Issuers $104M 3 Clara | $70.0M | Series B Link
42-- Online Test Preparation Tutoring $84.5M 1 Descomplica | $84.5M | Series E Link
43-- Online K-12 Academic Courses $84.5M 1 Descomplica | $84.5M | Series E Link
44▼6 Open Banking API Providers $80.8M 7 QI Tech | $50.0M | Series A Link
45-- Card Linked Digital Wallets $80.1M 4 RecargaPay | $70.0M | Series C Link
46▼21 Station Based Electric Bike Rentals $80.0M 1 Tembici | $80.0M | Series C Link
47▼21 Bicycle Rentals Software $80.0M 1 Tembici | $80.0M | Series C Link
48▲1 Employee Healthcare Benefits Administration $70.2M 3 Betterfly | $60.0M | Series B Link
49-- Fractional Investment Platforms $69.0M 2 Flink | $57.0M | Series B Link
50▼9 B2B E-Commerce > Horizontal > E-Distributor $57.0M 1 Adelco | $57.0M | Series C Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

9. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Online Used Cars Dealers - Latam
01
9
Back to index
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$1.2B (▲426%)
2(▼33.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$1.4B
2
-
2
1
Auto E-Commerce & Content (Coru)
(# Cos: 299 | $1.6B)
Second Hand Vehicles (Checkars)
(# Cos: 75 | $1.5B)
Cars (Volanty)
(# Cos: 47 | $1.5B)
Online Dealer (Kavak)
(# Cos: 2 | $1.4B)
Kavak
(2016, $1.4B)
Checkars
(2018, $125K)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Kavak (2016)
$700M - Series E - Sep 2021
Kavak (2016)
$485M - Series D - Apr 2021

10. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Tiendanube (2010)
$500M - Series E - Aug 2021
Nuvemshop (2011)
$500M - Series E - Aug 2021
Nuvemshop (2011)
$90.0M - Series D - Mar 2021
Tiendanube (2010)
$89.0M - Series D - Mar 2021
Cococart (2020)
$125K - Seed - Sep 2021
E-Commerce Storefronts - Latam
02
10
Back to index
E-Commerce Enablers (Olist)
(# Cos: 314 | $2.0B)
Storefronts (Tiendanube)
(# Cos: 82 | $1.3B)
Diversified (Nuvemshop)
(# Cos: 60 | $1.3B)
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$1.2B (▲1865%)
5(▲150%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$1.3B
16
-
60
2
Nuvemshop
(2011, $632M)
Tiendanube
(2010, $627M)
Loja Integrada
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

11. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Digital Native Banks - Latam
03
11
Back to index
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$1.2B (▲286%)
3(▲200%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$2.3B
3
1
11
1
Banking Tech (Klar)
(# Cos: 304 | $3.5B)
Internet First Banks (Fondeadora)
(# Cos: 137 | $3.2B)
Digital Native Banks (Agibank)
(# Cos: 32 | $2.4B)
Diversified (Nubank)
(# Cos: 11 | $2.3B)
Nubank
(2013, $2.3B)
Banco BS2 FV Bank
(2019, $8.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Nubank (2013)
$750M - Series G - Jun 2021
Nubank (2013)
$400M - Series G - Jan 2021
FV Bank (2019)
$8.0M - Series A - Aug 2021

12. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
iBuying Platforms - Latam
04
12
Back to index
Residential Real Estate Tech (QuintoAndar)
(# Cos: 137 | $1.7B)
Online Resellers (Loft)
(# Cos: 2 | $823M)
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$545M (▲211%)
3(▲50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$823M
2
-
2
2
Loft
(2018, $798M)
Flat
(2019, $24.9M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Loft (2018)
$425M - Series D - Mar 2021
Loft (2018)
$100M - Series D - Apr 2021
Flat (2019)
$20.0M - Series A - Sep 2021

13. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Wecancer (2015)
$521M - Series D - Feb 2021
Cancer Detecting App - Latam
05
13
Back to index
Disease Self Management (Hand Talk)
(# Cos: 235 | $533M)
Monitoring (Tummi)
(# Cos: 2 | $521M)
App (Wecancer)
(# Cos: 2 | $521M)
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$521M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$521M
1
-
2
1
Wecancer
(2015, $521M)
Tummi
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

14. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Crypto Trading Platforms - Latam
06
14
Back to index
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$488M (▲687%)
3(▲200%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$569M
6
-
50
2
Cryptocurrencies (Lemon)
(# Cos: 614 | $589M)
Financial Services (Ripio protocol)
(# Cos: 433 | $589M)
Investment Industry (BitcoinTrade)
(# Cos: 329 | $581M)
Online Trading Platforms (Mercado
Bitcoin)
(# Cos: 95 | $577M)
Regular Trading (Bitso)
(# Cos: 50 | $569M)
Bitso
(2014, $331M)
Mercado Bitcoin
(2013, $238M)
BitcoinTrade
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Bitso (2014)
$250M - Series C - May 2021
Mercado Bitcoin (2013)
$200M - Series B - Jul 2021
Mercado Bitcoin (2013)
$37.6M - Series A - Jan 2021

15. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Internet First Residential Real Estate
Brokers - Latam
07
15
Back to index
Residential Real Estate Tech (Loft)
(# Cos: 137 | $1.7B)
Online Brokers (QuintoAndar)
(# Cos: 10 | $781M)
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$441M (▲ >10K%)
3(▲200%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$781M
5
-
10
2
QuintoAndar
(2012, $755M)
EmCasa
(2017, $24.6M)
Mudafy
(2018, $150K)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
QuintoAndar (2012)
$300M - Series E - May 2021
QuintoAndar (2012)
$120M - Series E - Aug 2021
EmCasa (2017)
$21.0M - Series B - Jul 2021

16. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
EBANX (2012)
$400M - Series C - Jun 2021
Business Payments Solutions - Latam
08
16
Back to index
Payments (Stori)
(# Cos: 672 | $3.1B)
Business Payments (Clip)
(# Cos: 318 | $1.3B)
Diversified (EBANX)
(# Cos: 35 | $436M)
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$400M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$436M
10
-
35
1
EBANX
(2012, $430M)
Sr. Pago
(2010, $5.0M)
Culqi
(2013, $500K)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

17. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Internet First NFC Prepaid Cards - Latam
09
17
Back to index
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$350M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$589M
2
1
8
1
Payments (Clip)
(# Cos: 672 | $3.1B)
Consumer Payments (RecargaPay)
(# Cos: 309 | $1.1B)
Payment Cards (Stori)
(# Cos: 110 | $911M)
Prepaid Cards (Z1)
(# Cos: 83 | $640M)
General Purpose (Pagseguro)
(# Cos: 47 | $596M)
Reloadable (Sí Vale Mexico)
(# Cos: 46 | $596M)
NFC (Uala)
(# Cos: 8 | $589M)
Uala
(2016, $544M)
Pagseguro BKR
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Uala (2016)
$350M - Series D - Aug 2021

18. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Merchant Acquirer Companies - Latam
10
18
Back to index
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$340M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$365M
1
-
1
1
Payments (Stori)
(# Cos: 672 | $3.1B)
Enablers (Cielo)
(# Cos: 45 | $645M)
White Label Solutions (Zoop)
(# Cos: 13 | $428M)
Merchant Acquirers (CloudWalk)
(# Cos: 1 | $365M)
CloudWalk
(2013, $365M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
CloudWalk (2013)
$190M - Series B - May 2021
CloudWalk (2013)
$150M - Series C - Nov 2021

19. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Internet First Business Loans - Latam
11
19
Back to index
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$272M (▲ >10K%)
5(▲400%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$580M
6
-
11
4
Alternative Lending (Guiabolso)
(# Cos: 481 | $2.3B)
Online Lenders (Stori)
(# Cos: 390 | $2.2B)
Business Loans (BizCapital)
(# Cos: 97 | $848M)
Diversified (Konfío)
(# Cos: 25 | $608M)
Direct Lender (Credijusto)
(# Cos: 11 | $580M)
Credijusto
(2014, $42.0M)
Konfío
(2014, $378M)
Xepelin
(2019, $36.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Konfío (2014)
$125M - Series E - Jun 2021
Konfío (2014)
$110M - Series E - Sep 2021
Xepelin (2019)
$30.0M - Series A - Jul 2021
KREDITO (2019)
$4.0M - Seed - May 2021
Finaktiva (2016)
$3.0M - Seed - Jul 2021

20. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
2TM (2013)
$200M - Series B - Jul 2021
2TM (2013)
$50.3M - Series B - Nov 2021
2TM (2013)
Undisclosed - Series A - Jan 2021
Blockchain in Financial Services - Latam
12
20
Back to index
Blockchain Infrastructure (Ethereum Classic)
(# Cos: 42 | $254M)
Blockchain Network (RSK Labs)
(# Cos: 12 | $254M)
Finance (2TM)
(# Cos: 4 | $250M)
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$250M ( -- )
3( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$250M
2
-
4
1
2TM
(2013, $250M)
Ethereum Classic Minerri
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

21. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
POS Payment Terminals - Latam
13
21
Back to index
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$250M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$396M
10
1
68
1
Payments (Stori)
(# Cos: 672 | $3.1B)
Business Payments (EBANX)
(# Cos: 318 | $1.3B)
POS Payments (Billpocket)
(# Cos: 86 | $396M)
POS Payment Terminal (Clip)
(# Cos: 68 | $396M)
Clip
(2012, $396M)
Billpocket
(2011, $125K)
Getnet
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Clip (2012)
$250M - Series D - Jun 2021

22. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Facily (2018)
$250M - Series D - Nov 2021
Group Buying Platforms - Latam
14
22
Back to index
Social Commerce (Renova Tu Vestidor)
(# Cos: 37 | $379M)
Group Buying (Pigit)
(# Cos: 4 | $366M)
Diversified (Facily)
(# Cos: 4 | $366M)
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$250M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$366M
3
-
4
1
Facily
(2018, $366M)
Pigit BuyOnSocial
(2011, $296K)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

23. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Plant Based Seafood Substitutes - Latam
15
23
Back to index
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$246M (▲109%)
2( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$396M
2
-
2
1
Food Tech (iFood)
(# Cos: 465 | $1.3B)
Novel Foods (BENJI)
(# Cos: 14 | $486M)
Food Products (Fazenda Futuro)
(# Cos: 11 | $486M)
Dairy Substitute (Bifidice)
(# Cos: 3 | $396M)
Plant Based (NotCo)
(# Cos: 2 | $396M)
NotCo
(2015, $396M)
NoMoo Plant-Based
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
NotCo (2015)
$236M - Series D - Jul 2021
NotCo (2015)
$10.0M - Series C - Jun 2021

24. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Employee Insurance Benefits
Administration - Latam
16
24
Back to index
Employer Insurance (Bamba)
(# Cos: 3 | $378M)
Benefits Administration (Konfío)
(# Cos: 2 | $378M)
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$235M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$378M
1
-
2
1
Konfío
(2014, $378M)
Koala Benefits
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Konfío (2014)
$125M - Series E - Jun 2021
Konfío (2014)
$110M - Series E - Sep 2021

25. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Konfío (2014)
$125M - Series E - Jun 2021
Konfío (2014)
$110M - Series E - Sep 2021
minu (2019)
$11.5M - Series A - Mar 2021
Solvento (2017)
$4.5M - Series A - Dec 2021
Financial Benefits - Latam
17
25
Back to index
HRTech (LG place of people)
(# Cos: 667 | $712M)
Employee Benefits (Konfío)
(# Cos: 69 | $553M)
Financial Benefits (minu)
(# Cos: 28 | $444M)
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$235M (▲ >10K%)
4(▲300%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$444M
10
-
28
4
minu
(2019, $20.0M)
Konfío
(2014, $378M)
Xerpa
(2015, $33.9M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

26. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Accounts Receivables Payment Solutions
- Latam
18
26
Back to index
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$235M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$379M
6
-
17
1
Payments (Stori)
(# Cos: 672 | $3.1B)
Business Payments (Clip)
(# Cos: 318 | $1.3B)
Mass Payouts (Juno)
(# Cos: 23 | $379M)
Invoice Payments (Total MEI)
(# Cos: 23 | $379M)
Accounts Receivables (Konfío)
(# Cos: 17 | $379M)
Konfío
(2014, $378M)
Total MEI Juno
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Konfío (2014)
$125M - Series E - Jun 2021
Konfío (2014)
$110M - Series E - Sep 2021

27. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Rappi (2015)
$500M - Series F - Jul 2021
Loggi (2013)
$205M - Series D - Mar 2021
Cargamos.com (2018)
$7.0M - Seed - Sep 2021
Cargamos.com (2018)
$4.0M - Series A - Jan 2021
Hyperlocal Delivery - Latam
19
27
Back to index
Logistics Tech (Loggi)
(# Cos: 1145 | $4.0B)
Parcel (Rappi)
(# Cos: 399 | $3.4B)
Hyperlocal Delivery (iFood)
(# Cos: 218 | $3.4B)
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$205M ( -- )
4( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$3.4B
28
-
218
5
iFood
(2011, $587M)
Rappi
(2015, $2.3B)
Loggi
(2013, $486M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

28. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Truck Booking Marketplace - Latam
20
28
Back to index
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$200M (▲88%)
2(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$422M
21
-
87
2
Logistics Tech (iFood)
(# Cos: 1145 | $4.0B)
Freight (Nowports)
(# Cos: 552 | $528M)
Trucking (SimpliRoute)
(# Cos: 436 | $489M)
Heavy Cargo (Fretebras)
(# Cos: 110 | $439M)
Marketplace (Cargo X)
(# Cos: 87 | $422M)
Cargo X
(2013, $377M)
Liftit
(2016, $39.0M)
TruckPad
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Cargo X (2013)
$200M - Series F - Oct 2021
goFlux (2015)
$1.2M - Seed - Jun 2021

29. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Home Furnishing Products Marketplaces
- Latam
21
29
Back to index
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$190M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$300M
3
-
4
1
Home Improvements (Oppa Design)
(# Cos: 123 | $410M)
B2C Commerce (GAIA)
(# Cos: 95 | $410M)
Horizontal (Mobly)
(# Cos: 28 | $407M)
Marketplace (MadeiraMadeira)
(# Cos: 4 | $300M)
MadeiraMadeira
(2009, $300M)
Design Market
(2014, $435K)
Hometeka
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
MadeiraMadeira (2009)
$190M - Series E - Jan 2021

30. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
B2B E-Commerce > Food & Beverages > Groceries > Farm
Products > Marketplace - Latam
22
30
Back to index
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$163M (▲550%)
3(▲200%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$198M
5
-
13
2
B2B E-Commerce (Gro Direto)
(# Cos: 175 | $345M)
Food & Beverages (Mercê do Bairro)
(# Cos: 26 | $208M)
Groceries (Mayoreo Total)
(# Cos: 26 | $208M)
Farm Products (Cayena)
(# Cos: 21 | $208M)
Marketplace (Frubana)
(# Cos: 13 | $198M)
Frubana
(2018, $194M)
Cayena
(2004, $4.0M)
Cultivando Futuro
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Frubana (2018)
$94.1M - Series C - Nov 2021
Frubana (2018)
$65.0M - Series B - Jun 2021
Cayena (2004)
$3.5M - Series A - Sep 2021

31. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
KYC for Financial Institutions - Latam
23
31
Back to index
RegTech (41st Parameter)
(# Cos: 42 | $344M)
KYC (idwall)
(# Cos: 17 | $291M)
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$161M (▲37.6%)
2( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$291M
4
-
17
2
idwall
(2016, $53.9M)
Unico
(2007, $237M)
CPqD
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Unico (2007)
$121M - Series C - Aug 2021
idwall (2016)
$40.1M - Series C - Jun 2021

32. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
B2B Fruits and Vegetables Marketplace -
Latam
24
32
Back to index
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$159M (▲536%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$194M
3
-
9
1
Online Grocery (Cornershop)
(# Cos: 319 | $562M)
B2B Ecommerce (Mayoreo Total)
(# Cos: 36 | $208M)
Farm Produce (Gro Direto)
(# Cos: 25 | $195M)
Fruits and Vegetables (Cultivando Futuro)
(# Cos: 10 | $194M)
Marketplace (Frubana)
(# Cos: 9 | $194M)
Frubana
(2018, $194M)
Cultivando Futuro Agree Market
(2017, $100K)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Frubana (2018)
$94.1M - Series C - Nov 2021
Frubana (2018)
$65.0M - Series B - Jun 2021

33. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Internet First Credit Cards - Latam
25
33
Back to index
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$158M (▲1475%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$168M
4
-
24
1
Payments (Clip)
(# Cos: 672 | $3.1B)
Consumer Payments (RecargaPay)
(# Cos: 309 | $1.1B)
Payment Cards (Uala)
(# Cos: 110 | $911M)
Credit Cards (Clara)
(# Cos: 27 | $271M)
General Purpose (Stori)
(# Cos: 24 | $168M)
Stori
(2019, $168M)
Digio Nu Mexico
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Stori (2019)
$125M - Series C - Nov 2021
Stori (2019)
$32.5M - Series B - Feb 2021

34. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Online Pet Products Retailers - Latam
26
34
Back to index
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$150M (▲183%)
1(▼66.7%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$232M
6
-
33
0
Pet Tech (DogHero)
(# Cos: 141 | $249M)
Pet Supplies Ecommerce (Zee Now)
(# Cos: 45 | $232M)
Horizontal (Petsy)
(# Cos: 40 | $232M)
Retailer (Petz)
(# Cos: 36 | $232M)
Cats and Dogs (Laika)
(# Cos: 33 | $232M)
B2C (Pet Love)
(# Cos: 33 | $232M)
Pet Love
(1999, $226M)
Laika
(2017, $5.2M)
Petz
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Pet Love (1999)
$150M - Series C - Aug 2021

35. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Internet First Banks for Businesses with Partner
Bank's License - Latam
27
35
Back to index
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$143M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$153M
2
-
17
1
Banking Tech (Klar)
(# Cos: 304 | $3.5B)
Internet First Banks (Nubank)
(# Cos: 137 | $3.2B)
Through Bank Partnerships
(Fondeadora)
(# Cos: 101 | $863M)
Business Banking (Cora)
(# Cos: 17 | $153M)
Cora
(2019, $153M)
Banco Topazio Linker
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Cora (2019)
$116M - Series B - Aug 2021
Cora (2019)
$26.7M - Series A - Apr 2021

36. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Bus Aggregators - Latam
28
36
Back to index
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$138M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$138M
1
-
2
1
Online Travel (Hurb)
(# Cos: 562 | $492M)
Transportation (Kovi)
(# Cos: 105 | $303M)
Bus (ClickBus)
(# Cos: 26 | $149M)
Aggregator (Buser)
(# Cos: 2 | $138M)
Buser
(2017, $138M)
Encar
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Buser (2017)
$138M - Series C - Jun 2021

37. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Online Shuttle Aggregators - Latam
29
37
Back to index
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$138M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$148M
3
-
10
2
Road Transport Tech (Estapar)
(# Cos: 905 | $1.3B)
Mass Transit (ClickBus)
(# Cos: 111 | $169M)
Shuttle (Urbvan)
(# Cos: 19 | $148M)
Aggregator (Buser)
(# Cos: 10 | $148M)
Buser
(2017, $138M)
Urbvan
(2016, $9.9M)
Bussi
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Buser (2017)
$138M - Series C - Jun 2021

38. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Internet First Point of Sale Financing -
Latam
30
38
Back to index
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$130M (▲272%)
5(▲400%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$202M
6
-
19
4
Alternative Lending (Guiabolso)
(# Cos: 481 | $2.3B)
Online Lenders (BizCapital)
(# Cos: 390 | $2.2B)
Consumer Loans (Stori)
(# Cos: 253 | $1.3B)
Point of Sale Financing (Koin)
(# Cos: 31 | $208M)
Direct Lender (Addi)
(# Cos: 19 | $202M)
Addi
(2018, $140M)
Nelo
(2019, $25.6M)
Aplazo
(2020, $35.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Addi (2018)
$75.0M - Series B - Sep 2021
Aplazo (2020)
$27.0M - Series A - Nov 2021
Nelo (2019)
$20.0M - Series A - Oct 2021
Aplazo (2020)
$5.3M - Seed - Jun 2021
Nelo (2019)
$3.0M - Seed - Apr 2021

39. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
E-Commerce Software Suite - Latam
31
39
Back to index
E-Commerce Enablers (Nuvemshop)
(# Cos: 314 | $2.0B)
Ecommerce Software Suite (Olist)
(# Cos: 71 | $250M)
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$130M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$250M
22
1
71
2
Olist
(2015, $114M)
Hotmart
(2011, $130M)
Infracommerce
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Hotmart (2011)
$130M - Series C - Mar 2021
Olist (2015)
$23.0M - Series D - Apr 2021

40. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
isaac (2020)
$125M - Series B - Nov 2021
Chipax (2016)
$125K - Seed - Sep 2021
Financial Planning & Analysis Software -
Latam
32
40
Back to index
Finance & Accounting Tech (Sidetrade)
(# Cos: 531 | $285M)
Financial Planning & Analysis (Accountfy)
(# Cos: 52 | $136M)
Suite (Chipax)
(# Cos: 17 | $125M)
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$125M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$125M
6
-
17
1
Chipax
(2016, $125K)
isaac
(2020, $125M)
InterFuerza
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

41. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Physiological Biometrics - Latam
33
41
Back to index
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$121M (▲3.2%)
1(▼50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$237M
2
-
9
1
Cybersecurity (PSafe)
(# Cos: 297 | $758M)
IAM (Auth0)
(# Cos: 55 | $645M)
Biometrics (BigData)
(# Cos: 13 | $237M)
Physiological (Unico)
(# Cos: 9 | $237M)
Unico
(2007, $237M)
BigData FullFace Biometric Sol..
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Unico (2007)
$121M - Series C - Aug 2021

42. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Facial Biometric Systems - Latam
34
42
Back to index
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$121M (▼48.4%)
1(▼75%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$354M
4
-
14
2
Security & Surveillance Technology (CityCop)
(# Cos: 309 | $369M)
PIAM (Inngresa)
(# Cos: 57 | $355M)
Biometrics System (Unico)
(# Cos: 26 | $355M)
Facial Biometrics (Acesso)
(# Cos: 14 | $354M)
Acesso
(2007, $117M)
Unico
(2007, $237M)
BigData
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Unico (2007)
$121M - Series C - Aug 2021

43. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Facial Recognition - Latam
35
43
Back to index
Image Recognition (CyberLabs)
(# Cos: 17 | $359M)
Facial Recognition (Acesso)
(# Cos: 10 | $354M)
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$121M (▲3.2%)
1(▼75%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$354M
4
-
10
2
Acesso
(2007, $117M)
Unico
(2007, $237M)
BiometryCloud
(2012, $40.0K)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Unico (2007)
$121M - Series C - Aug 2021

44. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Ectare (2017)
$120M - Series D - Sep 2021
Online Agriculture Payments - Latam
36
44
Back to index
Crop Tech (Agrosmart)
(# Cos: 565 | $518M)
Finance (Agryo)
(# Cos: 18 | $125M)
Payments (Ectare)
(# Cos: 3 | $120M)
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$120M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$120M
2
-
3
1
Ectare
(2017, $120M)
Pago Rural Agrocoin
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

45. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Omie (2013)
$112M - Series C - Aug 2021
AgendaPro (2012)
$2.0M - Series A - Oct 2021
AgendaPro (2012)
$300K - Seed - May 2021
ERP for SMBs - Latam
37
45
Back to index
ERP (Superlogica)
(# Cos: 657 | $227M)
Multi-Industry (TOTVS)
(# Cos: 347 | $141M)
SMB-Focused (Omie)
(# Cos: 176 | $141M)
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$114M ( -- )
3( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
4
$141M
15
-
176
1
Omie
(2013, $138M)
AgendaPro
(2012, $2.4M)
Bind
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

46. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Omie (2013)
$112M - Series C - Aug 2021
CRM for SMB - Latam
38
46
Back to index
Sales Force Automation (Sirena)
(# Cos: 280 | $263M)
CRM (RD Station)
(# Cos: 141 | $245M)
SMB Suite (Omie)
(# Cos: 45 | $141M)
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$112M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$141M
4
-
45
1
Omie
(2013, $138M)
Sirena
(2016, $3.0M)
Apptonomy
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

47. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Banking Software Suite - Latam
39
47
Back to index
Banking Tech (Nubank)
(# Cos: 304 | $3.5B)
Banking Software Suite (Pismo)
(# Cos: 22 | $109M)
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$108M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$109M
5
-
22
1
Pismo
(2016, $109M)
Modyo Efisys
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Pismo (2016)
$108M - Series B - Oct 2021

48. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Station Based Intercity Car Rentals -
Latam
40
48
Back to index
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$104M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$148M
5
-
20
1
Online Travel (Hurb)
(# Cos: 562 | $492M)
Transportation (Buser)
(# Cos: 105 | $303M)
Car (Awto)
(# Cos: 45 | $148M)
Rental (Moobie)
(# Cos: 42 | $148M)
Own Fleet (Turbi)
(# Cos: 22 | $148M)
Station Based (Kovi)
(# Cos: 20 | $148M)
Kovi
(2018, $145M)
Turbi
(2016, $987K)
Awto
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Kovi (2018)
$104M - Series B - Aug 2021

49. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Internet First Corporate Credit Card
Issuers - Latam
41
49
Back to index
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$104M ( -- )
3( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$104M
1
-
3
1
Payments (Clip)
(# Cos: 672 | $3.1B)
Consumer Payments (RecargaPay)
(# Cos: 309 | $1.1B)
Payment Cards (Uala)
(# Cos: 110 | $911M)
Credit Cards (Stori)
(# Cos: 27 | $271M)
Corporate Cards (Clara)
(# Cos: 3 | $104M)
Clara
(2019, $104M)
Lendix Visa Business Credit C..
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Clara (2019)
$70.0M - Series B - Dec 2021
Clara (2019)
$30.0M - Series A - May 2021
Clara (2019)
$3.5M - Seed - Mar 2021

50. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Online Test Preparation Tutoring - Latam
42
50
Back to index
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$84.5M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$115M
1
-
1
1
Test Preparation Tech (Gran Cursos Online)
(# Cos: 57 | $115M)
Digital Learning (Estuda)
(# Cos: 55 | $115M)
Diversified (Kultivi)
(# Cos: 9 | $115M)
Instructor-Led (Descomplica)
(# Cos: 1 | $115M)
Descomplica
(2011, $115M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Descomplica (2011)
$84.5M - Series E - Feb 2021

51. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Online K-12 Academic Courses - Latam
43
51
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Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$84.5M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$115M
6
-
19
1
K-12 EdTech (Agenda Edu)
(# Cos: 449 | $147M)
B2C Learning Solutions (PleIQ)
(# Cos: 143 | $116M)
School Curriculum (meSalva!)
(# Cos: 75 | $116M)
Multi Subject (Stoodi)
(# Cos: 67 | $116M)
Online Courses (Descomplica)
(# Cos: 19 | $115M)
Descomplica
(2011, $115M)
Stoodi meSalva!
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Descomplica (2011)
$84.5M - Series E - Feb 2021

52. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
QI Tech (2018)
$50.0M - Series A - Nov 2021
Pomelo (2021)
$45.0M - Series A - Oct 2021
SWAP (2020)
$25.0M - Series A - Oct 2021
Pomelo (2021)
$9.0M - Seed - May 2021
Pomelo (2021)
$1.0M - Seed - Jun 2021
Fitbank (2016)
$666K - Seed - Mar 2021
Fintoc (2020)
$125K - Seed - Jan 2021
Open Banking API Providers - Latam
44
52
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Banking Tech (Nubank)
(# Cos: 304 | $3.5B)
Open Banking (SWAP)
(# Cos: 39 | $153M)
Banking APIs (Pomelo)
(# Cos: 28 | $149M)
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$80.8M (▲336%)
7( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$149M
14
-
28
4
Pomelo
(2021, $55.0M)
SWAP
(2020, $28.3M)
Dock
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

53. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Card Linked Digital Wallets - Latam
45
53
Back to index
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$80.1M ( -- )
4( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$156M
7
-
24
2
Payments (Clip)
(# Cos: 672 | $3.1B)
Consumer Payments (Stori)
(# Cos: 309 | $1.1B)
Wallets (MOVii)
(# Cos: 124 | $162M)
Card Linked (RecargaPay)
(# Cos: 24 | $156M)
RecargaPay
(2010, $133M)
MOVii
(2002, $15.0M)
Moni
(2013, $7.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
RecargaPay (2010)
$70.0M - Series C - Feb 2021
MOVii (2002)
$15.0M - Series B - Oct 2021
RecargaPay (2010)
$10.0M - Series C - Nov 2021
Pagaloop (2019)
$125K - Seed - Jan 2021

54. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Station Based Electric Bike Rentals -
Latam
46
54
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Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$80.0M (▲70.2%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$127M
1
-
6
1
Electric Vehicles (Yellow)
(# Cos: 120 | $276M)
Vehicle as a Service (Grin Scooters)
(# Cos: 33 | $274M)
Bicycles (Muvo)
(# Cos: 10 | $129M)
Station Based (Tembici)
(# Cos: 6 | $127M)
Tembici
(2010, $127M)
Electric Bike Tours Nomad
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Tembici (2010)
$80.0M - Series C - Sep 2021

55. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Bicycle Rentals Software - Latam
47
55
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Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$80.0M (▲70.2%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$127M
1
-
4
1
Road Transport Tech (Estapar)
(# Cos: 905 | $1.3B)
Self Drive Rentals (Kovi)
(# Cos: 107 | $422M)
Tech Enablers (InfoSistemas)
(# Cos: 10 | $127M)
Micromobility (Eycon)
(# Cos: 5 | $127M)
Bicycle (Tembici)
(# Cos: 4 | $127M)
Tembici
(2010, $127M)
Eycon S2BIKE
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Tembici (2010)
$80.0M - Series C - Sep 2021

56. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Betterfly (2018)
$60.0M - Series B - Jun 2021
Betterfly (2018)
$9.0M - Series A - Dec 2020
Betterfly (2018)
$1.2M - Series A - Mar 2021
Employee Healthcare Benefits
Administration - Latam
48
56
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Employee Health IT (1DOC3)
(# Cos: 85 | $132M)
Healthcare Benefits Administration (AllCare)
(# Cos: 14 | $80.0M)
Benefits Management (Betterfly)
(# Cos: 9 | $80.0M)
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$70.2M (▲726%)
3(▲200%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$80.0M
4
-
9
1
Betterfly
(2018, $80.0M)
AllCare Klivo
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

57. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Fractional Investment Platforms - Latam
49
57
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Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$69.0M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$70.0M
1
-
1
1
Investment Tech (Guiabolso)
(# Cos: 522 | $796M)
Online Trading Platforms (Nelogica)
(# Cos: 217 | $193M)
Stocks (Toro Investimentos)
(# Cos: 43 | $87.2M)
Fractional Investing (Flink)
(# Cos: 1 | $70.0M)
Flink
(2015, $70.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Flink (2015)
$57.0M - Series B - Aug 2021
Flink (2015)
$12.0M - Series A - Feb 2021

58. Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Adelco (1976)
$57.0M - Series C - Nov 2021
B2B E-Commerce > Horizontal > E-
Distributor - Latam
50
58
Back to index
B2B E-Commerce (Gro Direto)
(# Cos: 175 | $345M)
Horizontal (Zax)
(# Cos: 26 | $92.5M)
E-Distributor (Chiper)
(# Cos: 6 | $69.0M)
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$57.0M (▲375%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$69.0M
3
-
6
2
Chiper
(2017, $12.0M)
Adelco
(1976, $57.0M)
Emonk
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

59. Latam Tech - Top Business Models Report Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
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Latam Tech - Top Business Models Report
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