In 2020, fintech was the leading sector among technology-based startups in Latin America (also called Tecnolatinas), with a total of 202 businesses. More than half of these companies had raised less than 10 million U.S. dollars, meaning they were in the initial stage of capital investments. The e-commerce market was the second most prevalent sector among Tecnolatinas, with 93 startups.
Number of startups in the tech industry in Latin America as of 2020, by sector and capital raised
Tecnolatinas refers to technology-based private companies born in Latin America and the Caribbean and owned by founders from the region. It includes companies that have raised more than one million U.S. dollars of capital and with an estimated value of six million U.S. dollars or more.
Supplementary notes
Various sources include Surfing Tsunamis, Tecnolatinas, LAVCA, Crunchbase, Pitchbook, Techcrunch, Research Reports and Media Reports.
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Inter-American Development Bank. (March 25, 2021). Number of startups in the tech industry in Latin America as of 2020, by sector and capital raised [Graph]. In Statista. Retrieved November 10, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/1227877/latin-america-number-startups-tech-industry-sector-capital/
Inter-American Development Bank. "Number of startups in the tech industry in Latin America as of 2020, by sector and capital raised." Chart. March 25, 2021. Statista. Accessed November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1227877/latin-america-number-startups-tech-industry-sector-capital/
Inter-American Development Bank. (2021). Number of startups in the tech industry in Latin America as of 2020, by sector and capital raised. Statista. Statista Inc.. Accessed: November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1227877/latin-america-number-startups-tech-industry-sector-capital/
Inter-American Development Bank. "Number of Startups in The Tech Industry in Latin America as of 2020, by Sector and Capital Raised." Statista, Statista Inc., 25 Mar 2021, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1227877/latin-america-number-startups-tech-industry-sector-capital/
Inter-American Development Bank, Number of startups in the tech industry in Latin America as of 2020, by sector and capital raised Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1227877/latin-america-number-startups-tech-industry-sector-capital/ (last visited November 10, 2024)
Number of startups in the tech industry in Latin America as of 2020, by sector and capital raised [Graph], Inter-American Development Bank, March 25, 2021. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/1227877/latin-america-number-startups-tech-industry-sector-capital/
