Mexico, a nation with a rich history of innovation and entrepreneurship, has witnessed an incredible surge in the number of unicorns – privately held start-up companies valued at over $1 billion – in recent years. With the rapid growth of the Mexico economy and the rise of disruptive technologies, these 8 unicorn companies have become the driving force behind the nation’s rise as a global powerhouse.
So without any delay, let’s get started and discover the world of Mexico’s unicorn companies!
List of 8 Unicorns in Mexico
1. Kavak
A Mexican online platform that provides used car sales and financing services to customers.
Company Details:
- Valuation: $8.70B
- Investors Name: DST Global, SoftBank Group, Mountain Nazca
- City: Lerma de Villada
- Industry: E-commerce & direct-to-consumer
- Total Funding Raised: $1.188B
- Founded Year: 2016
- Joined Unicorn Club: 10/1/2020
- Total Investors:
- Total Deal Terms: 4
- Website: https://www.kavak.com/
2. Bitso
A Mexican cryptocurrency exchange that allows users to buy, sell, and trade cryptocurrencies.
Company Details:
- Valuation: $2.20B
- Investors Name: Pantera Capital, QED Investors, Coinbase Ventures
- City: Mexico City
- Industry: Fintech
- Total Funding Raised: $314.66M
- Founded Year: 2014
- Joined Unicorn Club: 5/5/2021
- Total Investors:
- Total Deal Terms: 2
- Website: https://www.bitso.com/
3. Clip
A Mexican fintech company that offers a mobile payments platform for small businesses.
Company Details:
- Valuation: $2B
- Investors Name: Alta Ventures Mexico, General Atlantic, SoftBank Group
- City: Mexico City
- Industry: Fintech
- Total Funding Raised: $397.36M
- Founded Year: 2012
- Joined Unicorn Club: 6/10/2021
- Total Investors:
- Total Deal Terms: 4
- Website: https://www.clip.mx/
4. Konfio
A Mexican fintech company that provides loans to small and medium-sized businesses.
Company Details:
- Valuation: $1.30B
- Investors Name: Kaszek Ventures, QED Investors, International Finance Corporation
- City: Mexico City
- Industry: Fintech
- Total Funding Raised: $824.59M
- Founded Year: 2013
- Joined Unicorn Club: 9/29/2021
- Total Investors:
- Total Deal Terms: 3
- Website: https://konfio.mx/
5. stori
A Mexican e-commerce platform that allows users to buy and sell products online.
Company Details:
- Valuation: $1.20 B
- Investors Name: Vision Plus Capital, Source Code Capital, Lightspeed Venture Partners
- City: Juarez
- Industry: Fintech
- Total Funding Raised: –
- Founded Year: –
- Joined Unicorn Club: 7/15/2022
- Total Investors:
- Total Deal Terms: –
- Website: https://stori.com.mx/
6. Merama
A Latin American e-commerce brand that partners with sellers to grow their businesses.
Company Details:
- Valuation: $1.20B
- Investors Name: SoftBank Latin America Fund, Advent International, Balderton Capital
- City: Mexico City
- Industry: E-commerce & direct-to-consumer
- Total Funding Raised: $445M
- Founded Year: 2020
- Joined Unicorn Club: 12/9/2021
- Total Investors:
- Total Deal Terms: 3
- Website: https://merama.com/
7. Nowports
A Mexican logistics and supply chain management platform that provides real-time tracking.
Company Details:
- Valuation: $1.10 B
- Investors Name: Monashees+, Foundation Capital, Base10 Partners
- City: Monterrey
- Industry: Supply chain, logistics, & delivery
- Total Funding Raised: –
- Founded Year: –
- Joined Unicorn Club: 5/24/2022
- Total Investors:
- Total Deal Terms: –
- Website: https://www.nowports.com/
8. Clara
A Brazilian proptech company that uses technology to simplify the real estate buying process.
Company Details:
- Valuation: $1B
- Investors Name: DST Global, General Catalyst, Monashees+
- City: Mexico City
- Industry: Fintech
- Total Funding Raised: $108.5M
- Founded Year: 2020
- Joined Unicorn Club: 12/6/2021
- Total Investors:
- Total Deal Terms: 2
- Website: https://www.claraso.com.br/
Conclusion
In conclusion, Mexico’s top 8 unicorns showcase the nation’s innovative power and economic growth. These companies are making a global impact and reshaping industries. Keep an eye on these trailblazers, as they continue to redefine success in the ever-evolving world of innovation.