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Latin startups continue to gain momentum on Y Combinator

In wanting to create Latin American companies for a global market, entrepreneurs launch products that are increasingly desired.

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Y Combinator is a company that provides initial funding for startups, emphasizing the seed round, which is the earliest and highest risk stage. It takes care of paying a startup's expenses while it begins operation.

Y Combinator has also begun to look closely at the technological landscape in Latin America, where several startups have already gained important recognition. This has led them to be part of its select list, which includes the most valuable companies supported by Y Combinator, headquartered in the Silicon Valley.

Colombian Entrepreneurs

On this year's list, among different companies in the region, there are three of Colombian origin. Rappi, a platform for home deliveries and recently for financial services; Frubana, a company that supplies restaurants; and Platzi, the largest technology school in Latin America. All have valuations over $150 million and are projected to continue increasing their presence in different countries.

“We found that when we finance successful companies, like Brex and Rappi, there is a flywheel effect where they inspire locals to launch a startup, and we are seeing this in Latin America. We also believe that the distance due to the pandemic contributed. Founders who may not have been able to temporarily move to Mountain View for three months (something we previously needed) now apply to Y Combinator,” Stephanie Simon, director of admissions for the accelerator firm, told Forbes.

Mountain View, California

Out of the total companies that debuted this year on the list, 28% are startups located outside the United States. The greatest growth occurred in Latin America, a region that contributed seven new companies, two more than Africa.

The surprise of the list was the Venezuelan company Yummy, which managed to make the cut for the select group, and was joined by three Mexican and two Chilean companies.

It is important to note that this valuation is not the only way to measure a company’s worth, but the metric used is the most common to compare startups.

The five best-valued startups on this year's list are: Airbnb, Stripe, Instacart, Coinbase and DoorDash, public and private companies of American origin with a value exceeding $150 million.

Latin America’s Finest

Rappi (21)

This Colombian platform already has a presence in nine countries. In addition to connecting businesses and users through home orders, it also provides financial services. It is valued at $5.25 billion.

Frubana (102)

With operations in Colombia, Mexico and Brazil, this app, which supplies restaurants with an online marketplace, has raised $202 million from investors and could become the next unicorn.

Kovi (142)

With more than 100,000 affiliated drivers in Brazil and Mexico, and a fleet of more than 20,000 cars, this Brazilian platform rents vehicles for drivers who work for services such as Uber, Didi and Beat.

Nowports (159)

This digital cargo agent from Mexico already has a presence in eight countries. Thanks to its personalized logistics solutions services, its investors have contributed close to $100 million since its inception.

Platzi (171)

This is the largest Spanish language digital platform for technology education. To date, they have offered courses to more than 3 million students, raising more than $78 million.

Fondeadora (179)

This Mexican mobile application, linked to a debit card, allows its customers to send, spend and save money. So far it has more than 150,000 users.

Fintual (226)

This Chilean platform with more than 89,000 users, which also operates in Mexico, invites you to invest in funds with low fees and no minimum amounts.

Houm (230)

Also of Chilean origin, this real estate application helps to sell and rent properties with a faster process. In addition to its presence in Chile, it is also in Mexico and Colombia.

Yummy (246)

After conquering its home market in Venezuela, the firm already has a presence in Peru, Chile and Bolivia.

Belvo (254)

Originating in Mexico and Brazil, this is an Open Banking API platform that allows any application developer to easily access the data of their end users.

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