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1. TRACXN TOP BUSINESS MODELS REPORT
March 17, 2022
LATAM TECH

2. Latam Tech - Top Business Models Report Copyright © 2022, 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 © 2022, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Funding in last 1 year
3
E-Commerce Enablers $2.0B
Auto E-Commerce & Content $1.3B
Residential Real Estate Tech $1.0B
HRTech $767M
Cryptocurrencies $514M
Social Commerce $489M
Y-o-Y Funding
Top Investors by Funding Rounds
Seed
Stage
Y Combinator
Bossa Nova
DOMO Invest
67
11
9
Early
Stage
Kaszek Ventures
Monashees
FJ Labs
19
16
16
Late
Stage
Kaszek Ventures
SoftBank
Tiger Global Management
9
8
8
Funding by Geography
Top Feeds by $ Funding
Top Funding Rounds
$ Funding # Rounds
Nubank
(2013, )
$750M - Series G
Kavak
(2016, )
$700M - Series E
Nuvemshop
(2011, )
$500M - Series E
Rappi
(2015, )
$500M - Series F
Tiendanube
(2010, )
$500M - Series E
Kavak
(2016, )
$485M - Series D
Loft
(2018, )
$425M - Series D
EBANX
(2012, )
$400M - Series C
Uala
(2016, )
$350M - Series D
QuintoAndar
(2012, )
$300M - Series E
Neon
(2016, )
$300M - Series D
Creditas
(2012, )
$260M - Series F
Sao Paulo (39%)
Mexico City (12%)
Buenos Aires (9%)
Bogota (8%)
Lerma De Villada (8%)
Others (25%)

4. Copyright © 2022, 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▼1 Digital Native Banks $758M 2 Nubank | $750M | Series G Link
3▲139 iBuying Platforms $545M 3 Loft | $425M | Series D Link
4<> 0 B2C Hyperlocal Delivery $507M 2 Rappi | $500M | Series F Link
5▲37 Group Buying Platforms $489M 4 Facily | $250M | Series D Link
6▲13 Cryptocurrency Trading Platforms $450M 2 Bitso | $250M | Series C Link
7▲63 Internet First Residential Real Estate Brokers $446M 4 QuintoAndar | $300M | Series E Link
8-- Business Payments Solutions $400M 1 EBANX | $400M | Series C Link
9▼6
Internet First Retail Banks with Partner Bank's
License
$377M 5 Neon | $300M | Series D Link
10-- Internet First NFC Prepaid Cards $350M 1 Uala | $350M | Series D Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

5. Copyright © 2022, 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-- E-Commerce Rollups $345M 5 Merama | $225M | Series B Link
12-- Merchant Acquirer Companies $340M 2 CloudWalk | $190M | Series B Link
13▲67 Internet First Business Loans $272M 5 Konfío | $125M | Series E Link
14-- Blockchain in Financial Services $250M 3 2TM | $200M | Series B Link
15▲86 POS Payment Terminals $250M 1 Clip | $250M | Series D Link
16▼3 Plant Based Seafood Substitutes $246M 2 NotCo | $236M | Series D Link
20▲7 Internet First Point of Sale Financing $210M 6 Addi | $80.0M | Series C Link
21▲3 Online Pet Products Retailers $210M 3 Pet Love | $150M | Series C Link
22▲1 Marketplaces Software Suite $209M 2 Olist | $186M | Series E Link
23▲15 Open Banking API Providers $189M 7 Pismo | $108M | Series B Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

6. Copyright © 2022, 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
24▲7 B2B Building Materials Marketplaces $188M 3 Tul | $181M | Series B Link
25▲14 Health Insurance Marketplace For Employers $185M 2 Betterfly | $125M | Series C Link
26-- B2B Farm Produce Marketplaces $184M 6 Frubana | $94.1M | Series C Link
27-- B2B Fruits and Vegetables Marketplaces $163M 3 Frubana | $94.1M | Series C Link
28▼13 KYC for Financial Institutions $161M 2 Unico | $121M | Series C Link
29-- B2B Fruits and Vegetables Marketplace $159M 2 Frubana | $94.1M | Series C Link
32--
Internet First Banks for Businesses with Partner
Bank's License
$147M 3 Cora | $116M | Series B Link
35▼7 Internet First Credit Cards $135M 2 Stori | $125M | Series C Link
36▲117 Financial Planning & Analysis Software $125M 2 isaac | $125M | Series B Link
40-- Online Agriculture Payments $120M 1 Ectare | $120M | Series D Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

7. Copyright © 2022, 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
41-- Loan Life Cycle Management $115M 2 Open Co | $115M | Series D Link
44-- Internet First Personal Loans $105M 3 Kueski | $102M | Series C Link
45-- Station Based Intercity Car Rentals $104M 1 Kovi | $104M | Series B Link
46▲23 Internet First Corporate Credit Card Issuers $100M 3 Clara | $70.0M | Series B Link
47▲26 HRMS for SMBs $100M 1 Solides | $100M | Series B Link
48▲6 Applicant Tracking System $93.2M 1 Gupy | $93.2M | Series C Link
51▲2 Internet First Revenue Based Financing $69.9M 5 A55 | $35.0M | Series A Link
52▲51 Online Accounting Services $63.0M 2 Contabilizei | $63.0M | Series D Link
53▼16 Employee Healthcare Benefits Administration $60.0M 1 Betterfly | $60.0M | Series B Link
54▼13 Online B2B Horizontal Retailers $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.

8. Copyright © 2022, 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
55▼12 Fractional Share Trading Platforms $57.0M 1 Flink | $57.0M | Series B Link
56-- HRMS for Enterprises $51.2M 2 Buk | $50.0M | Series A Link
57▼47 Whiteboarding Software $50.7M 1 MURAL | $50.7M | Series C Link
58-- Online Home Furnishing Products Retailers $50.0M 2 GAIA | $50.0M | Series C Link
59-- Banking as a Service Platforms $50.0M 1 QI Tech | $50.0M | Series A Link
60▼20 Conversational Analytics $50.0M 1 Yalo | $50.0M | Series C Link
61▲89 Online IT Education Courses $50.0M 1 Digital House | $50.0M | Series B Link
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1 year.

9. Copyright © 2022, 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 (Nexu)
(# Cos: 316 | $1.7B)
Second Hand Vehicles (InstaCarro)
(# Cos: 78 | $1.5B)
Cars (Volanty)
(# Cos: 49 | $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 © 2022, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Digital Native Banks - Latam
02
10
Back to index
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$758M (▲8.3%)
2( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$2.3B
4
1
13
1
Banking Tech (Klar)
(# Cos: 322 | $3.9B)
Internet First Banks (Neon)
(# Cos: 142 | $3.5B)
Digital Native Banks (Conta Simples)
(# Cos: 33 | $2.4B)
Diversified (Nubank)
(# Cos: 13 | $2.3B)
Nubank
(2013, $2.3B)
FV Bank
(2019, $8.0M)
Jeitto
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
FV Bank (2019)
$8.0M - Series A - Aug 2021

11. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
iBuying Platforms - Latam
03
11
Back to index
Residential Real Estate Tech (QuintoAndar)
(# Cos: 154 | $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 (▲ >10K%)
3(▲200%)
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

12. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
B2C Hyperlocal Delivery - Latam
04
12
Back to index
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$507M (▲66.8%)
2(▼33.3%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$2.9B
18
-
119
4
Logistics Tech (99minutos.com)
(# Cos: 1309 | $4.2B)
Parcel (Rappi)
(# Cos: 440 | $3.4B)
Hyperlocal Delivery (Loggi)
(# Cos: 245 | $3.4B)
B2C (iFood)
(# Cos: 119 | $2.9B)
iFood
(2011, $592M)
Rappi
(2015, $2.3B)
Mensajeros Urbanos
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Rappi (2015)
$500M - Series F - Jul 2021
Cargamos.com (2018)
$7.0M - Seed - Sep 2021

13. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Facily (2018)
$250M - Series D - Nov 2021
Facily (2018)
$135M - Series D - Dec 2021
Facily (2018)
$63.0M - Series C - Jun 2021
Facily (2018)
$41.0M - Series B - Apr 2021
Group Buying Platforms - Latam
05
13
Back to index
Social Commerce (Renova Tu Vestidor)
(# Cos: 38 | $514M)
Group Buying (Pigit)
(# Cos: 4 | $501M)
Diversified (Facily)
(# Cos: 4 | $501M)
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$489M (▲3975%)
4(▲300%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$501M
3
-
4
1
Facily
(2018, $501M)
Pigit BuyOnSocial
(2011, $296K)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

14. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Cryptocurrency 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
$450M (▲352%)
2( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$569M
6
-
53
2
Cryptocurrencies (Ripio protocol)
(# Cos: 655 | $650M)
Financial Services (Lemon)
(# Cos: 458 | $646M)
Investment Industry (FOXBIT)
(# Cos: 345 | $606M)
Online Trading Platforms (Mercado
Bitcoin)
(# Cos: 101 | $583M)
Regular Trading (Bitso)
(# Cos: 53 | $569M)
Bitso
(2014, $331M)
Mercado Bitcoin
(2013, $238M)
Volabit
(2014, $250K)
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

15. Copyright © 2022, 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: 154 | $1.7B)
Online Brokers (QuintoAndar)
(# Cos: 12 | $785M)
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$446M (▲ >10K%)
4(▲300%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$785M
6
-
12
2
QuintoAndar
(2012, $755M)
EmCasa
(2017, $24.6M)
Tu Canton
(2013, $1.2M)
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
Homelend (2016)
$4.5M - Series A - Oct 2021

16. Copyright © 2022, 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: 752 | $3.2B)
Business Payments (Clip)
(# Cos: 358 | $1.3B)
Diversified (EBANX)
(# Cos: 50 | $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
12
-
50
1
EBANX
(2012, $430M)
Sr. Pago
(2010, $5.0M)
Efecty
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

17. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Internet First Retail Banks with Partner Bank's
License - 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
$377M (▼3.2%)
5(▼16.7%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$934M
11
-
52
6
Banking Tech (Cuenca)
(# Cos: 322 | $3.9B)
Internet First Banks (Nubank)
(# Cos: 142 | $3.5B)
Through Bank Partnerships (Klar)
(# Cos: 105 | $1.2B)
Retail Banking (Neon)
(# Cos: 52 | $934M)
Neon
(2016, $720M)
Klar
(2019, $92.5M)
Cuenca
(2018, $9.6M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Neon (2016)
$300M - Series D - Feb 2022
Klar (2019)
$70.0M - Series B - Jul 2021
alt.bank (2019)
$5.5M - Series A - May 2021
CondoConta (2018)
$1.2M - Seed - Mar 2021
Bankaya (2019)
Undisclosed - Seed - Oct 2021

18. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Internet First NFC Prepaid Cards - 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
$350M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$589M
2
1
9
1
Payments (Clip)
(# Cos: 752 | $3.2B)
Consumer Payments (RecargaPay)
(# Cos: 344 | $1.2B)
Payment Cards (Stori)
(# Cos: 121 | $941M)
Prepaid Cards (Z1)
(# Cos: 90 | $660M)
General Purpose (Pagseguro)
(# Cos: 54 | $615M)
Reloadable (DM Card)
(# Cos: 53 | $615M)
NFC (Uala)
(# Cos: 9 | $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

19. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
E-Commerce Rollups - Latam
11
19
Back to index
Brands Tech (Algramo)
(# Cos: 11 | $534M)
Tech First Ecommerce Brand Acquirers
(Merama)
(# Cos: 3 | $525M)
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$345M ( -- )
5( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$525M
3
-
3
3
Merama
(2020, $345M)
Valoreo
(2020, $160M)
Wonder Brands
(2020, $20.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Merama (2020)
$225M - Series B - Sep 2021
Valoreo (2020)
$80.0M - Series B - Feb 2022
Merama (2020)
$60.0M - Series B - Dec 2021
Merama (2020)
$60.0M - Series A - Apr 2021
Valoreo (2020)
$30.0M - Series A - Jul 2021

20. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Merchant Acquirer Companies - Latam
12
20
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 (Clip)
(# Cos: 752 | $3.2B)
Enablers (Cielo)
(# Cos: 50 | $653M)
White Label Solutions (Zoop)
(# Cos: 14 | $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

21. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Internet First Business Loans - 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
$272M (▲ >10K%)
5(▲400%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$580M
6
-
14
4
Alternative Lending (Guiabolso)
(# Cos: 529 | $2.8B)
Online Lenders (Creditas)
(# Cos: 433 | $2.6B)
Business Loans (BizCapital)
(# Cos: 114 | $887M)
Diversified (Credijusto)
(# Cos: 33 | $608M)
Direct Lender (Konfío)
(# Cos: 14 | $580M)
Konfío
(2014, $378M)
Credijusto
(2014, $42.0M)
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

22. Copyright © 2022, 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
Aligned (2020)
$34.0M - Series C - Feb 2022
Blockchain in Financial Services - Latam
14
22
Back to index
Blockchain Infrastructure (Ethereum Classic)
(# Cos: 51 | $288M)
Blockchain Network (RSK Labs)
(# Cos: 16 | $288M)
Finance (2TM)
(# Cos: 6 | $284M)
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
-
$284M
3
-
6
2
2TM
(2013, $250M)
Ethereum Classic Aligned
(2020, $34.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

23. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
POS Payment Terminals - 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
$250M (▲ >10K%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
3
$401M
12
1
73
2
Payments (Stori)
(# Cos: 752 | $3.2B)
Business Payments (EBANX)
(# Cos: 358 | $1.3B)
POS Payments (Getnet)
(# Cos: 95 | $402M)
POS Payment Terminal (Clip)
(# Cos: 73 | $401M)
Clip
(2012, $396M)
Getnet Billpocket
(2011, $125K)
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

24. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Plant Based Seafood Substitutes - Latam
16
24
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: 510 | $1.3B)
Novel Foods (Kernel)
(# Cos: 17 | $501M)
Food Products (Fazenda Futuro)
(# Cos: 14 | $501M)
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

25. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Internet First Point of Sale Financing -
Latam
17
25
Back to index
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$210M (▲501%)
6(▲500%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$265M
8
-
22
3
Alternative Lending (Guiabolso)
(# Cos: 529 | $2.8B)
Online Lenders (BizCapital)
(# Cos: 433 | $2.6B)
Consumer Loans (Creditas)
(# Cos: 272 | $1.6B)
Point of Sale Financing (Koin)
(# Cos: 35 | $271M)
Direct Lender (Addi)
(# Cos: 22 | $265M)
Addi
(2018, $203M)
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)
$80.0M - Series C - Dec 2021
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

26. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Online Pet Products Retailers - 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
$210M (▲296%)
3( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
2
$292M
6
-
40
1
Pet Tech (DogHero)
(# Cos: 188 | $309M)
Pet Supplies Ecommerce (Zee Now)
(# Cos: 54 | $292M)
Horizontal (Petsy)
(# Cos: 47 | $292M)
Retailer (Laika)
(# Cos: 43 | $292M)
Cats and Dogs (Petz)
(# Cos: 40 | $292M)
B2C (Pet Love)
(# Cos: 40 | $292M)
Pet Love
(1999, $226M)
Petz Laika
(2017, $65.2M)
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
Laika (2017)
$48.0M - Series B - Jan 2022
Laika (2017)
$12.0M - Series A - Jun 2021

27. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Olist (2015)
$186M - Series E - Dec 2021
Olist (2015)
$23.0M - Series D - Apr 2021
Marketplaces Software Suite - Latam
19
27
Back to index
E-Commerce Enablers (Hotmart)
(# Cos: 317 | $2.3B)
Ecommerce Software Suite (Nuvemshop)
(# Cos: 81 | $1.7B)
Marketplaces (Olist)
(# Cos: 14 | $320M)
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$209M (▲259%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$320M
7
-
14
1
Olist
(2015, $314M)
Brasil/CT Digital Commerce Group
(2007, $5.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

28. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Pismo (2016)
$108M - Series B - Oct 2021
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
Open Banking API Providers - Latam
20
28
Back to index
Banking Tech (Nubank)
(# Cos: 322 | $3.9B)
Open Banking (Pomelo)
(# Cos: 44 | $262M)
Banking APIs (Pismo)
(# Cos: 32 | $258M)
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$189M (▲911%)
7(▲16.7%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$258M
17
-
32
5
Pismo
(2016, $109M)
Pomelo
(2021, $55.0M)
SWAP
(2020, $28.3M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

29. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
B2B Building Materials 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
$188M (▲530%)
3(▼40%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$218M
5
-
15
1
B2B E-Commerce (Gro Direto)
(# Cos: 210 | $580M)
Home Construction & Improvement (CAPP)
(# Cos: 24 | $218M)
Building Supplies (Sooper)
(# Cos: 23 | $218M)
Diversified (Oico)
(# Cos: 23 | $218M)
Marketplace (Tul)
(# Cos: 15 | $218M)
Tul
(2020, $210M)
Oico
(2019, $7.1M)
Sooper
(2021, $1.1M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Tul (2020)
$181M - Series B - Jan 2022
Oico (2019)
$5.5M - Series A - Jan 2022
Sooper (2021)
$1.1M - Series A - Jan 2022

30. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Health Insurance Marketplace For
Employers - 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
$185M (▲957%)
2( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$203M
1
-
1
1
Employee Health IT (1DOC3)
(# Cos: 96 | $335M)
Healthcare Benefits Administration (Bamba)
(# Cos: 16 | $283M)
Benefits Marketplace (4Uno)
(# Cos: 2 | $203M)
Health Insurance (Betterfly)
(# Cos: 1 | $203M)
Betterfly
(2018, $203M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Betterfly (2018)
$125M - Series C - Feb 2022
Betterfly (2018)
$60.0M - Series B - Jun 2021

31. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
B2B Farm Produce Marketplaces - Latam
23
31
Back to index
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$184M ( -- )
6( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$219M
9
-
18
2
B2B E-Commerce (Gro Direto)
(# Cos: 210 | $580M)
Food & Beverages (Clubbi)
(# Cos: 33 | $234M)
Groceries (Mayoreo Total)
(# Cos: 33 | $234M)
Farm Products (Cayena)
(# Cos: 27 | $229M)
Marketplace (Frubana)
(# Cos: 18 | $219M)
Frubana
(2018, $194M)
Cayena
(2004, $21.0M)
Poupachef
(1970, $3.8M)
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)
$17.5M - Series A - Mar 2022
Poupachef (1970)
$3.8M - Series A - Sep 2021
Cayena (2004)
$3.5M - Series A - Sep 2021
Pantore (2021)
$125K - Seed - Feb 2022

32. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
B2B Fruits and Vegetables Marketplaces
- 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
$163M ( -- )
3( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$198M
4
-
19
1
Crop Tech (Taranis)
(# Cos: 603 | $583M)
ECommerce (Agrofy)
(# Cos: 102 | $265M)
Farm Produce (Perfekto)
(# Cos: 51 | $199M)
B2B (Gro Direto)
(# Cos: 29 | $199M)
Fruits and Vegetables (Poupachef)
(# Cos: 21 | $198M)
Marketplace (Frubana)
(# Cos: 19 | $198M)
Frubana
(2018, $194M)
Poupachef
(1970, $3.8M)
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
Poupachef (1970)
$3.8M - Series A - Sep 2021

33. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
KYC for Financial Institutions - Latam
25
33
Back to index
RegTech (41st Parameter)
(# Cos: 44 | $351M)
KYC (idwall)
(# Cos: 18 | $291M)
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$161M (▲49.9%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$291M
5
-
18
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

34. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
B2B Fruits and Vegetables Marketplace -
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
$159M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$194M
3
-
10
1
Online Grocery (Merqueo)
(# Cos: 342 | $641M)
B2B Ecommerce (Mayoreo Total)
(# Cos: 41 | $235M)
Farm Produce (Gro Direto)
(# Cos: 27 | $195M)
Fruits and Vegetables (Cultivando Futuro)
(# Cos: 12 | $195M)
Marketplace (Frubana)
(# Cos: 10 | $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

35. Copyright © 2022, 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
$147M ( -- )
3( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$157M
3
-
18
2
Banking Tech (Klar)
(# Cos: 322 | $3.9B)
Internet First Banks (Nubank)
(# Cos: 142 | $3.5B)
Through Bank Partnerships (Neon)
(# Cos: 105 | $1.2B)
Business Banking (Cora)
(# Cos: 18 | $157M)
Cora
(2019, $153M)
Trace Finance
(2020, $4.3M)
Banco Topazio
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
Trace Finance (2020)
$4.3M - Seed - Feb 2022

36. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Internet First Credit Cards - 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
$135M (▲315%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$178M
4
-
26
1
Payments (Clip)
(# Cos: 752 | $3.2B)
Consumer Payments (RecargaPay)
(# Cos: 344 | $1.2B)
Payment Cards (Uala)
(# Cos: 121 | $941M)
Credit Cards (Clara)
(# Cos: 31 | $281M)
General Purpose (Stori)
(# Cos: 26 | $178M)
Stori
(2019, $178M)
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)
$10.0M - Series C - Mar 2022

37. Copyright © 2022, 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
29
37
Back to index
Finance & Accounting Tech (Sidetrade)
(# Cos: 591 | $465M)
Financial Planning & Analysis (Mendel)
(# Cos: 58 | $171M)
Suite (Chipax)
(# Cos: 20 | $125M)
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$125M (▲ >10K%)
2(▲100%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$125M
6
-
20
1
Chipax
(2016, $185K)
isaac
(2020, $125M)
Soften Sistemas
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

38. Copyright © 2022, 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
30
38
Back to index
Crop Tech (Taranis)
(# Cos: 603 | $583M)
Finance (Farmfolio)
(# Cos: 19 | $139M)
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.

39. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Open Co (2021)
$115M - Series D - Dec 2021
Verde (2021)
$125K - Seed - Sep 2021
Loan Life Cycle Management - Latam
31
39
Back to index
Banking Tech (Nubank)
(# Cos: 322 | $3.9B)
Loan Life Cycle Management (Zinobe)
(# Cos: 49 | $116M)
Suite (Open Co)
(# Cos: 15 | $115M)
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$115M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$115M
3
-
15
0
Open Co
(2021, $115M)
Zinobe Verde
(2021, $125K)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

40. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Internet First Personal Loans - Latam
32
40
Back to index
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$105M ( -- )
3( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$118M
7
-
31
1
Alternative Lending (Guiabolso)
(# Cos: 529 | $2.8B)
Online Lenders (BizCapital)
(# Cos: 433 | $2.6B)
Consumer Loans (Creditas)
(# Cos: 272 | $1.6B)
Personal Loans (Yotepresto)
(# Cos: 82 | $167M)
Direct Lender (Kueski)
(# Cos: 31 | $118M)
Kueski
(2012, $114M)
Baubap
(2018, $3.1M)
ConFiar
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Kueski (2012)
$102M - Series C - Dec 2021
Baubap (2018)
$3.0M - Seed - Mar 2021
Baubap (2018)
$125K - Seed - Jul 2021

41. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Station Based Intercity Car Rentals -
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
$104M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$148M
5
-
21
1
Online Travel (Hurb)
(# Cos: 624 | $492M)
Transportation (Buser)
(# Cos: 114 | $303M)
Car (Carengo)
(# Cos: 48 | $148M)
Rental (Alkilautos)
(# Cos: 45 | $148M)
Own Fleet (Turbi)
(# Cos: 24 | $148M)
Station Based (Kovi)
(# Cos: 21 | $148M)
Kovi
(2018, $145M)
Turbi
(2016, $987K)
Zazcar
(2009, $2.3M)
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

42. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Internet First Corporate Credit Card
Issuers - 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
$100M (▲2662%)
3(▲50%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$104M
3
-
5
1
Payments (Clip)
(# Cos: 752 | $3.2B)
Consumer Payments (RecargaPay)
(# Cos: 344 | $1.2B)
Payment Cards (Uala)
(# Cos: 121 | $941M)
Credit Cards (Stori)
(# Cos: 31 | $281M)
Corporate Cards (Clara)
(# Cos: 5 | $104M)
Clara
(2019, $104M)
delt.ai
(2019, $125K)
Kapital
(2021, $125K)
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
Kapital (2021)
$125K - Seed - Jan 2022

43. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
HRMS for SMBs - Latam
35
43
Back to index
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$100M (▲3233%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$110M
4
-
13
2
HRTech (Konfío)
(# Cos: 721 | $1.1B)
HRMS (Worky)
(# Cos: 80 | $161M)
Suite (LG place of people)
(# Cos: 50 | $161M)
SMB (Solides)
(# Cos: 13 | $110M)
Solides
(2008, $104M)
Worky
(2017, $3.0M)
Runa
(2017, $3.5M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Solides (2008)
$100M - Series B - Feb 2022

44. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Gupy (2015)
$93.2M - Series C - Jan 2022
Applicant Tracking System - Latam
36
44
Back to index
HRTech (Konfío)
(# Cos: 721 | $1.1B)
Applicant Tracking System (Apli)
(# Cos: 67 | $144M)
Suite (Gupy)
(# Cos: 32 | $111M)
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$93.2M (▲1270%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$111M
6
-
32
1
Gupy
(2015, $104M)
Apli
(2016, $1.5M)
Kenoby
(2014, $5.9M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

45. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Internet First Revenue Based Financing -
Latam
37
45
Back to index
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$69.9M (▲899%)
5(▲150%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$76.9M
3
-
5
3
Alternative Lending (Guiabolso)
(# Cos: 529 | $2.8B)
Online Lenders (Creditas)
(# Cos: 433 | $2.6B)
Business Loans (BizCapital)
(# Cos: 114 | $887M)
Revenue Based Financing (Divibank)
(# Cos: 5 | $76.9M)
Direct Lender (A55)
(# Cos: 5 | $76.9M)
A55
(2019, $58.3M)
Divibank
(2020, $3.6M)
Fairplay
(2019, $15.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
A55 (2019)
$35.0M - Series A - May 2021
A55 (2019)
$16.3M - Series B - Jan 2022
Fairplay (2019)
$15.0M - Series A - Jan 2022
Divibank (2020)
$3.6M - Seed - May 2021
Divibank (2020)
Undisclosed - Seed - Jun 2021

46. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Contabilizei (2013)
$63.0M - Series D - Mar 2022
BackStartup (2014)
Undisclosed - Seed - May 2021
Online Accounting Services - Latam
38
46
Back to index
Finance & Accounting Tech (Sidetrade)
(# Cos: 591 | $465M)
Tech-Enabled Services (BackStartup)
(# Cos: 44 | $96.7M)
Accounting & Bookkeeping (Contabilizei)
(# Cos: 27 | $96.6M)
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$63.0M (▲5150%)
2( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
1
$96.6M
3
-
27
1
Contabilizei
(2013, $94.6M)
BackStartup
(2014, $2.0M)
MEI Easy
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

47. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Betterfly (2018)
$60.0M - Series B - Jun 2021
Employee Healthcare Benefits
Administration - Latam
39
47
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Employee Health IT (1DOC3)
(# Cos: 96 | $335M)
Healthcare Benefits Administration (Bamba)
(# Cos: 16 | $283M)
Benefits Management (Betterfly)
(# Cos: 11 | $80.0M)
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$60.0M (▲221%)
1(▼66.7%)
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$80.0M
4
-
11
1
Betterfly
(2018, $80.0M)
Bamba Klivo
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

48. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Adelco (1976)
$57.0M - Series C - Nov 2021
Online B2B Horizontal Retailers - Latam
40
48
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B2B E-Commerce (Gro Direto)
(# Cos: 210 | $580M)
Horizontal (Inventa)
(# Cos: 29 | $118M)
E-Distributor (Chiper)
(# Cos: 7 | $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
-
7
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.

49. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Fractional Share Trading Platforms -
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
$57.0M (▲375%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$70.0M
1
-
1
1
Investment Tech (Guiabolso)
(# Cos: 602 | $818M)
Online Trading Platforms (Nelogica)
(# Cos: 260 | $193M)
Stocks (Toro Investimentos)
(# Cos: 48 | $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

50. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
HRMS for Enterprises - 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
$51.2M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$51.2M
7
-
37
1
HRTech (Konfío)
(# Cos: 721 | $1.1B)
HRMS (Worky)
(# Cos: 80 | $161M)
Suite (Solides)
(# Cos: 50 | $161M)
Enterprise (LG place of people)
(# Cos: 37 | $51.2M)
LG place of people Buk
(2016, $50.0M)
Ahgora
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Buk (2016)
$50.0M - Series A - Oct 2021
Qüilo (2016)
$1.2M - Seed - May 2021

51. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Whiteboarding Software - Latam
43
51
Back to index
Enterprise Collaboration (Todoist)
(# Cos: 261 | $207M)
Whiteboarding Platform (MURAL)
(# Cos: 2 | $199M)
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$50.7M (▼59%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$199M
2
-
2
1
MURAL
(2011, $199M)
Duuca
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
MURAL (2011)
$50.7M - Series C - Jul 2021

52. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Online Home Furnishing Products
Retailers - Latam
44
52
Back to index
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$50.0M ( -- )
2( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$363M
7
2
22
1
Home Improvements (GAIA)
(# Cos: 139 | $685M)
B2C Commerce (MadeiraMadeira)
(# Cos: 111 | $685M)
Horizontal (Mobly)
(# Cos: 34 | $682M)
Retailer (Dafiti)
(# Cos: 22 | $363M)
Dafiti
(2011, $275M)
Mobly
(2011, $20.0M)
GAIA
(2014, $67.8M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
GAIA (2014)
$50.0M - Series C - Sep 2021
Urucuna (2020)
Undisclosed - Seed - Jun 2021

53. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Banking as a Service Platforms - Latam
45
53
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Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$50.0M ( -- )
1( -- )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$50.0M
1
-
1
1
Banking Tech (Nubank)
(# Cos: 322 | $3.9B)
Open Banking (Pomelo)
(# Cos: 44 | $262M)
Banking APIs (Pismo)
(# Cos: 32 | $258M)
With Banking License (QI Tech)
(# Cos: 1 | $50.0M)
QI Tech
(2018, $50.0M)
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
QI Tech (2018)
$50.0M - Series A - Nov 2021

54. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Yalo (2015)
$50.0M - Series C - May 2021
Conversational Analytics - Latam
46
54
Back to index
MarketingTech (Rock Content)
(# Cos: 883 | $425M)
Marketing Intelligence (Cortex)
(# Cos: 33 | $117M)
Conversational Analytics (Yalo)
(# Cos: 2 | $75.0M)
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$50.0M (▲233%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$75.0M
1
-
2
1
Yalo
(2015, $75.0M)
Mobcall
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.

55. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
Recent Funding Rounds
Online IT Education Courses - Latam
47
55
Back to index
Taxonomy
$ Invested in last 1 year in Latam Tech
Key Stats
# Funding Rounds in last 1 year in
Latam Tech
$50.0M (▲ >10K%)
1( <> 0% )
Funded Companies
Companies
Acquisitions
Total $ Invested
IPOs
Soonicorn Club
-
$80.1M
6
-
27
1
Continued Learning (Slang App)
(# Cos: 536 | $161M)
Professional (Alura)
(# Cos: 272 | $134M)
Online Learning (eduK)
(# Cos: 268 | $134M)
IT Education (Digital Innovation One)
(# Cos: 63 | $96.0M)
Diversified (Coderhouse)
(# Cos: 30 | $95.9M)
Online Courses (Digital House)
(# Cos: 27 | $80.1M)
Digital House
(2015, $80.0M)
Alura myexcelonline.com
Note: The last node in the Taxonomy represents the Business Model addressed in the title of the slide.
Digital House (2015)
$50.0M - Series B - Mar 2021

56. Latam Tech - Top Business Models Report Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
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57. Latam Tech - Top Business Models Report Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
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58. Copyright © 2022, Tracxn Technologies Limited. All rights reserved.
Latam Tech - Top Business Models Report
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