10 Unicorns From Argentina

Argentina, culturally vibrant, laden with history and stunning environments is making a name for itself as one of the hottest startup destinations in the world. The country beckons travellers with tango, an internationally accredited wine industry and breathtaking landscapes that range from the Andes’ peaks to the vast Pampas. Buenos Aires, being Argentina’s capital city, beats at the heart of its start-up ecosystem. It was here that Mercado Libre came bursting forth in 1999 as Argentina’s first unicorn heralding a new dispensation of innovation and entrepreneurship.

 

What is the Biggest Industry in Argentina?

The world of agriculture still remains to be a leading sector in Argentina. In fact, Argentina is the world’s number one exporter of soy products. In other words, two-thirds of all Argentine exports come from the agricultural sector. Thereby, we can look forward to the country’s strong position in AgTech, which also looks good for up-and-coming startups.

 

What Does a Unicorn Company Mean?

A unicorn company refers to a privately held start-up that has been valued at over $1 billion (USD). These are rare enterprises indicating a significant achievement because they have witnessed rapid growth and attracted huge investments. Argentina boasts one of the highest rates of unicorns per capita in Latin America making it a reference point for entrepreneurship and ecosystem development.

 

 

Keep an Eye on These Argentinian Unicorns

 

Argentina has a booming startup community that demonstrates many of the characteristics seen in a highly dynamic economy. These ten unicorns from Argentina showcase the country’s robust and innovative startup ecosystem, affirming its commitment to technological development and entrepreneurialism:

 

 

1. Uala

 

 

Uala is a fintech firm that wants to help Latin Americans with their ecosystem of financial solutions and offer a free app on mobiles which is connected to a prepaid Mastercard system. Ualá, created in 2017 by Pierpaolo Barbieri has received major investments including $150m from multiple investors. 

 

2. Mercado Libre

 

 

Mercado Libre stands as the biggest e-commerce and payment platform in Latin America. The company operates an online marketplace where businesses can sell their products while offering other services that support e-commerce activities on its website. Founded by Marcos Galperin in 1999, Mercado Libre has raised significant values of money from investors like Goldman Sachs, among others.

 

3. Globant

 

 

Digital transformation is at the heart of Globant´s work as an IT & software development company. It works with companies globally, to introduce innovative solutions and improve customer experience levels. Globant was launched more than 20 years ago by Martín Migoya, Guibert Englebienne Néstor Nocetti Martín Umaran in 2003. The company experienced growth through substantial financial aid from key firms such as FTVCapital and Riverwood Capital. 

 

4. Olx

 

 

OLX is among the leading platforms for classified ads and online trading globally having established itself as an online marketplace operating worldwide enabling users to buy or sell items within their locality. Since it was established by Fabrice Grinda with Alec Oxenford back in 2006 OLX has had great investment from Nasers helping it expand all over the world.

 

5. Despegar

 

Despegar is one of Latin America’s largest online travel agencies offering a variety of travel services such as flight bookings, hotel reservations and vacation packages. Launched by Roberto Souviron in 1999, Despegar raised over $500m through an IPO in 2017 to consolidate its position within the tourism sector.

 

 

6. Auth0

 

 

Auth0 provides developers with a platform that manages authentication and handling authorisation for them so that they do not have to worry about security when developing applications. Auth0 was started by CTO and Matias Woloski in 2013 and was sold to Okta at approximately $6.5bn in 2021.

 

7. Vercel

Frontend hosting service with speed and rapid deployment is what Vercel (formerly known as Zeit) catered for developers. Founded in 2015 by Guillermo Rauch, Vercel has raised more than $150m from investors including Accel CRV GV.

 

8. Mural

 

 

Mural is a digital workspace where teams can collaborate visually online: brainstorm together or plan out work processes in a participatory way. Mural was started by Mariano Suarez-Battan & Patricio Jutard in 2011 with investors like Insight Partners and Tiger Global investing.

 

9. Bitfarms

 

 

Bitfarms is the world’s largest block-chain computing power producer focusing on Bitcoin mining amongst other cryptocurrencies that aid decentralised finance globally. Bitfarms was established in 2017 by Emiliano Grodzki & Nicolas Bonta.

 

10. Infobae

 

 

Infobae is one of the most influential digital media companies in Latin America offering comprehensive news coverage and analysis. Beginning back in 2002 by Daniel Hadad, Infobae has grown through strategic investments and alliances, capable of reaching out across the globe – now reaching Spain.