Latam Startups
Many of Them Are Replicable in The MENA Region: A Look at the Strongest Startups in Mexico
An analytical overview of Mexico’s top-funded startups, highlighting leading companies across fintech, mobility, retail and enterprise services, and examining their business models and funding.
In recent years, Mexico has become a major hub for startup funding in Latin America. Various sources report that in the second quarter of 2025 alone, Mexico-based startups raised approximately US$437 million, representing a sharp increase compared with prior quarters.
Mexico’s startup ecosystem benefits from a large domestic market, growing investor interest, and active local venture capital firms that support early- and growth-stage ventures. (Startup Genome) These conditions have helped produce several high-valued private companies, some reaching “unicorn” status (valuation above US$1 billion).
The following is a selection of prominent Mexican startups that have secured substantial funding, representing a cross-section of sectors — from fintech and mobility to enterprise services and commerce.
1. Kavak – Online Marketplace for Pre-Owned Cars
Sector: E-commerce / Automotive Marketplace
Total Funding / Valuation Context: Kavak is widely cited among Mexico’s unicorns; at one point its valuation reportedly reached as high as US$8.7 billion. (Wikipedia)
Founded in 2016 and headquartered in Mexico City, Kavak operates an online marketplace for buying and selling used cars. (Wikipedia) The platform attempts to provide greater transparency and trust compared to informal used-car markets, offering services including inspection, refurbishment, financing and warranties. (Wikipedia)
Kavak expanded rapidly beyond Mexico, entering several Latin American markets. (Wikipedia) Its growth and funding history have positioned it among the most valuable privately held startups in Latin America. (Altios)
2. Clara – Corporate Expense and Payment Management Platform
Sector: Fintech / B2B Financial Services
Total Funding: Clara completed a Series B round and raised additional financing; in 2024 it reportedly secured US$80 million.
Launched in 2020 by founders including Gerry Giacomán Colyer and Diego García Escobedo, Clara provides corporate and virtual credit cards, digital payment accounts, and tools for expense management, reimbursements, and financial reporting. Its headquarters were originally in Mexico before expansion efforts across Latin America.
Clara’s platform targets businesses and organizations needing streamlined payment and expense workflows, aiming to replace manual expense processes. The additional financing in 2024 reflects continued investor interest in business-oriented fintech solutions in the region.
3. Konfio – Financial Services Platform for SMEs
Sector: Fintech / SME Lending and Payments
Total Funding: Reportedly among the most funded startups in Mexico as of 2025.
Founded in 2013 and based in Mexico, Konfio offers financial services tailored to small and medium enterprises (SMEs), including working capital loans, corporate credit cards, and payment solutions intended to support SME growth and productivity.
The company operates in a context where many SMEs in Mexico lack access to traditional financing or corporate banking services. By addressing liquidity and transactional needs, Konfio seeks to fill a gap in formal financial services for mid-sized businesses and merchants.
4. Stori – Consumer Credit Card and Fintech Platform
Sector: Fintech / Consumer Financial Services
Total Funding / Valuation Context: Stori reportedly reached unicorn status after a US$150 million financing round in 2022, valuing the company at approximately US$1.2 billion.
Stori provides consumer credit card services and related financial products, targeting underbanked or underserved segments of the population in Mexico. The startup combines technology-driven underwriting with digital onboarding and aims to extend access to credit cards where traditional banking may have limited reach.
By 2025, Stori had established a footprint in Mexico’s consumer finance market, benefiting from growing demand for alternative credit and digital financial solutions.
5. Clip – Digital Payments for Merchants and SMEs
Sector: Fintech / Payments Infrastructure
Total Funding: Active recipient of venture capital; among frequently cited recipients in Mexico’s fintech sector.
Founded in Mexico, Clip provides payment processing solutions for merchants and small businesses, enabling card payments, point-of-sale capabilities, and other digital payment services. This addresses a need among SMEs and informal merchants for accessible payment infrastructure in a market where cash remains common.
By reducing friction in card and digital payments, Clip aims to include more SMEs into formal financial flows, offering them tools that previously were mainly available to larger enterprises.
6. Jüsto – E-Grocery and Retail E-Commerce Platform
Sector: E-commerce / Grocery Retail
Total Funding / Positioning: As of 2025, among the top funded startups in Mexico alongside Konfio.
Jüsto operates an online grocery and retail delivery platform, aiming to serve consumers in Mexico looking for digital alternatives to traditional retail shopping. The platform’s business model involves inventory management, fulfillment, and last-mile delivery services tailored to urban and suburban customers.
Rising funding and usage reflect growing consumer demand for convenience and digital retail solutions in Mexico, especially in regions with increasing internet penetration and changing shopping habits.
7. Rappi (Mexican-Rooted Operations in a Regional Super-App)
Sector: On-demand Delivery & Super-App Services
Total Funding / Valuation Context: While originally founded in Colombia, Rappi has significant operations and investment presence in Mexico; it remains among Latin America’s highest-valued startups, contributing to the regional startup ecosystem.
Rappi offers a mix of services including on-demand delivery of groceries, meals, and convenience products, as well as financial and payment features, effectively operating as a super-app across several Latin American markets including Mexico.
Its widespread use in Mexico and investment backing highlight the demand for integrated services platforms that combine convenience, logistics and digital payment infrastructure — a model that has scaled across urban areas in Latin America.
Conclusion
The profiles above indicate that Mexico’s startup funding environment supports a range of business models, particularly those focused on fintech, payments infrastructure, retail commerce, mobility, and digital services. Several of the most capitalized companies address structural market gaps: limited access to formal credit, inefficiencies in retail and commerce, fragmented payment systems, and demand for alternative mobility or asset markets.
Funding trends in 2025 suggest renewed investor confidence in late-stage and growth-stage deals, as evidenced by the US$437 million raised in a single quarter. At the same time, active venture capital networks and local funds continue supporting early- and mid-stage startups across diverse sectors.
Despite the number of high-valuation startups, challenges remain. Competing in sectors such as used-car marketplaces, consumer credit, and e-commerce in Mexico requires navigating regulatory frameworks, volatility in demand, and market dynamics that may vary significantly across regions. The ability to scale often depends on balancing capital intensity with disciplined operations and adaptability to local customer behavior.
Overall, Mexico’s startup landscape demonstrates both breadth and depth: a diverse set of sectors attracting capital, a sizable domestic market, and a growing infrastructure of investors. Continued developments may depend on macroeconomic conditions, regulation, and execution capabilities within these companies.
Latam Startups
Brazilian FinTech Startup Stay Raises $5.7M Funding Led by Citrino to Expand Corporate Pension and Employee Benefits Platform
led by Citrino to expand employer-sponsored retirement plans, strengthen corporate partnerships and increase access to long-term financial benefits across Brazil.
The round also attracted participation from Norte, 17Sigma and BTV, strengthening Stay’s investor base as it develops technology infrastructure connecting employers with private pension providers. The company previously secured R$15 million (approximately $2.85 million) in an earlier financing round backed by MAYA Capital and Better Tomorrow Ventures.
Led by Founder and CEO Tsai Chi-yu, Stay provides corporate retirement benefit solutions and long-term employee incentive programmes. The startup currently serves nearly 100 companies and tens of thousands of employees, with clients including Claro, iFood, Milky Moo and Hospital de Câncer Araújo Jorge.
Stay Secures $5.7M Funding Led by Citrino
The R$30 million investment will support Stay’s efforts to expand its corporate pension infrastructure and reach more employers across Brazil.
Citrino led the financing round, joined by Norte, 17Sigma and BTV. The lead investor’s relationships with major Brazilian business families and experience in long-term asset management align with Stay’s focus on retirement products that require sustained financial commitments.
Tsai Chi-yu described Citrino’s participation as an important endorsement of the company’s business model, emphasizing the role of trust in retirement planning. He noted that managing retirement savings over several decades requires credibility and long-term relationships with investors, insurers and corporate clients.
The new financing follows Stay’s previous R$15 million funding round and comes as the company seeks to strengthen its position in Brazil’s employer-sponsored retirement benefits market.
Stay Connects Employers With Private Pension Providers
Stay operates as a technology intermediary between employers and insurance companies offering private pension products. Its platform enables businesses of different sizes to provide retirement benefits to employees without independently developing the infrastructure required to administer pension programmes.
The company also offers long-term incentive programmes, known in Brazil as Incentivos de Longo Prazo (ILPs), designed to encourage employee retention and align financial benefits with longer-term employment relationships.
In 2024, Stay established a partnership with Zurich Seguros, expanding its ability to distribute corporate pension products through an established insurance provider. The collaboration supports the startup’s strategy of combining technology infrastructure with existing financial services networks.
By integrating retirement planning and employee incentive solutions, Stay aims to make corporate pension benefits more accessible to businesses that may lack the resources to manage these programmes independently.
Stay Expands Corporate Client Base Across Brazil
Stay has reported significant growth in its corporate customer base, serving nearly 100 companies and tens of thousands of employees through its pension and incentive programmes.
Its clients include telecommunications company Claro, food delivery platform iFood, dessert brand Milky Moo and Hospital de Câncer Araújo Jorge, demonstrating adoption across different sectors of the Brazilian economy.
According to the company, assets under management have increased more than 30-fold since its founding. Although Stay did not disclose the current value of those assets, the reported growth reflects the expansion of its corporate retirement business.
The startup has established a target of exceeding 100 corporate clients by December 2026. Reaching that milestone would support its efforts to broaden employer participation and extend access to retirement benefits across additional industries.
Addressing Brazil’s Employer-Sponsored Pension Gap
Stay is targeting a market where access to corporate retirement benefits remains limited. According to Tsai Chi-yu, fewer than 3% of Brazilian workers currently participate in employer-sponsored pension plans, compared with estimated participation levels of 70% to 90% in selected markets across Europe, Asia and the United States.
The company views this gap as an opportunity to expand private retirement savings through employer partnerships, particularly as Brazilian households face increasing financial pressures.
Tsai has highlighted rising household defaults and the growing influence of betting-related spending as factors affecting personal financial stability. Against this backdrop, Stay aims to encourage long-term savings by making retirement planning part of employee compensation and benefits packages.
The company’s approach also reflects growing interest in financial wellness programmes that extend beyond conventional workplace benefits. Employer-sponsored pensions and long-term incentives could become part of broader employee financial support strategies as businesses seek to improve retention and financial security.
Stay Targets Further Expansion in Brazil’s Pension Market
With R$30 million in new funding, Stay plans to expand its corporate distribution network, strengthen relationships with insurance providers and increase adoption of its retirement and incentive products.
Its growth strategy combines technology-enabled pension administration with partnerships that provide access to established financial infrastructure. The company will also focus on attracting additional corporate clients as it works toward exceeding 100 employers by the end of 2026.
As Brazil’s corporate pension market develops, Stay’s expansion will depend on its ability to establish long-term partnerships with employers and insurers while demonstrating the value of retirement benefits to businesses and their employees.
The latest investment positions the startup to continue developing its pension technology platform and broaden access to employer-sponsored retirement savings across Brazil.
Latam Startups
Brazilian Startup Plinq Raises $250K in Seed Funding to Expand Background Check App for Women
Led by Spectra Investments, the funding will support Plinq’s mobile app and its move from individual searches to a subscription service.
Brazilian startup Plinq has raised about $250,000 in its first funding round, led by Spectra Investments. Angel investors also participated, including Anton Osika, Liana Selles, Fernando Montera and José Gerardo Carrero. The dollar amount is an approximate conversion of the R$1.3 million round announced in August 2026.
Plinq helps women search publicly available judicial records when checking the background of a potential romantic partner. Founded in 2025 by CEO Sabrine Matos, the company plans to use the investment to develop its mobile app and expand its ten-person team.
How Plinq’s Background Checks Work
Users enter a person’s name and phone number, and Plinq searches public sources, including court records and official publications, to compile a report. The company says its web platform attracted more than 60,000 users and processed nearly 85,000 searches during its first year.
Matos founded Plinq after learning of a femicide case in which the perpetrator had faced multiple domestic violence proceedings that the victim reportedly did not know about. The startup’s aim is to make existing public information easier to find and understand before a relationship begins.
Plinq says 10% of the risk alerts identified by its platform relate to domestic violence records. Those alerts reflect information found in public databases; a search result alone cannot establish a person’s current conduct or guarantee someone’s safety.
Mobile App and Subscription Plans
When the round was announced, Plinq said it planned to launch a women-only mobile app in early September 2026 and replace one-off web searches with a monthly subscription. The proposed app includes identity checks using facial recognition. The launch date was a company plan at the time of the funding announcement; the cited report does not confirm that the app has since launched.
Plinq aims to reach one million active users within six months of the app’s launch. For 2027, it has outlined further features, including a way for users to alert nearby women if they feel at risk during a date. It is also considering services for Brazilian women living abroad. These remain expansion targets rather than existing features or user figures.
Latam Startups
Brazil-Based AI Startup Nuvia Raises $1.8M to Expand AI Sales Agents Across Latin America
Amador Capital and Nascent led the round, which will support product development and commercial growth.
Brazilian startup Nuvia has raised $1.8 million in a funding round led by Amador Capital and Nascent. Existing investor NXTP participated alongside Crivo Ventures, Delusional Capital and investors brought together through Spectra Investimentos. Nuvia plans to use the capital to develop its platform, strengthen its team and expand in Brazil and other Latin American markets.
Nuvia develops AI agents for sales and customer service. Its platform brings conversations from WhatsApp, Instagram, voice calls, websites and email into one system and connects them with customer relationship management tools. The aim is to help businesses respond to enquiries, qualify prospective customers and carry conversations through more complex sales processes.
Building a presence beyond Brazil
Nuvia is focusing on markets where companies handle large volumes of customer conversations, particularly through WhatsApp. Most of its customers are currently in Brazil, but the company also serves clients in Mexico, Colombia and the Iberian Peninsula. The new funding will help it grow its sales and marketing operations as it pursues a wider Latin American customer base.
The startup says its agents can support tasks that extend beyond answering routine questions. In one example cited by the company, retailer Chocolat Du Jour handled approximately 25,000 customer interactions during an eight-day Easter period, with AI agents managing 91% of the conversations. These figures describe that customer’s reported use of the platform, rather than a result Nuvia has demonstrated for every deployment.
Founded in 2024, Nuvia is led by CEO John Paz, a former Brazil general manager at fintech Pomelo. The latest round follows an earlier raise of about $1.7 million, bringing its disclosed funding to approximately $3.5 million. Reports differ on the date of that earlier round, so the total is more useful here than assigning it a specific month.
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