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Startup Funding Triples to a Record $15 Billion in Latin America

  • Surge of venture capital created 17 new unicorns last year
  • Fintech firms were favored investments, LAVCA’s data show
Traffic moves along Paulista Avenue in Sao Paulo.

Traffic moves along Paulista Avenue in Sao Paulo.

Photographer: Paulo Fridman/Bloomberg

Tech investors poured a record amount of funding into Latin America last year, minting a new class of billion-dollar startups in a region rapidly becoming a target for venture capitalists. 

Startups attracted $15.3 billion last year, more than triple the previous record of $4.9 billion in 2019, according to preliminary data released Sunday by the Association for Private Capital Investments in Latin America, or LAVCA. Funding in every major country hit a record, led by Brazil, and financial technology, or fintech, garnered more than any other sector, the New York-based association said.