In November 2018, Brazilian delivery startup iFood raised more capital than Latin American startups raised in all of 2016. The round, which Forbes called Latin America’s largest funding round ever, was a high point of the accelerating pace of innovation in the region and confirmation of international investor interest in Latin American startups.
For the Latin American startup ecosystem, 2018 was also a year of new unicorns and new records. The first of these unicorns emerged after Didi Chuxing’s acquisition of Brazilian rideshare app 99 in January.
Hardly a day goes by now without a breaking story about a new Latin American tech deal. As international VC money pours into the region, Latin America’s tech revolution is starting to feel unstoppable. In 2010, the year I arrived in Chile, venture capitalists invested less than US$200M in Latin American startups. In the past two months, Latin American startups have raised more than US$1B, nearly matching what Latin American startups raised in 2017 (US$1.1B)