When it comes to Latin American startup hubs, Brazil takes the first prize. Ranking among the top five economies with the highest start-up rate in the world, Brazil has managed to produce over 10 thousand startup companies in the past decade. The South American country is also home to eight unicorn companies – privately held startups valued at one billion U.S. dollars or more. In fact, Brazil is the only Latin American nation listed in the ten leading global unicorn markets.
Unicorns made in Brazil
Nubank, a neobank headquartered in São Paulo, is currently the highest valued unicorn in Latin America, at a staggering 10 billion U.S. dollars. This worth also makes it the only decacorn in the region to date. In 2019, the digital banking platform amassed a revenue of almost 570 million Brazilian reals (some 140 million U.S. dollars at December 2019 exchange rates). Nubank is also one of the Brazilian startups employing the largest workforce, with over 2,000 workers. Other seven unicorn companies from Brazil rank among the most valued in Latin America. These thriving businesses include São Paulo-based mobile gaming giant, Wildlife Studios, delivery app iFood, and digital real estate platforms QuintoAndar and Loft.
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In the following 6 chapters, you will quickly find the 35 most important statistics relating to "Startups in Brazil".