Latin America Roundup: XP’s chart-topping IPO, Wildlife becomes a unicorn, SoftBank backs Konfio

Gaming startup Wildlife raised a $60 million Series A round led by U.S.-investor Benchmark Capital at a $1.3 billion valuation to become the country’s eleventh unicorn.

Konfio provides small business loans in Mexico through an online platform to help SMEs gain liquidity and grow their operations.

These small businesses are often overlooked by banks in Mexico and Latin America, which do not know how to price risk for businesses that process less than $10 million per year.

Brazil’s Creditas and Colombia’s OmniBnk are among the other startups providing innovative products that calculate risk more effectively than banks in Latin America’s complex lending environment.

Albo plans to use the capital to develop new products, including savings and credit services, in the coming year.

Brazilian cloud-kitchen startup Mimic raised $9 million in a seed round led by Monashees to develop a more efficient food delivery model in Brazil.

An early-stage online lending startup in Brazil, Rebel, recently raised $10 million from Monashees and Fintech Collective to provide unsecured loans to middle-class Brazilians at affordable rates.

Given the arrival of the SoftBank Innovation Fund, Latin American startup investment in 2019 will likely more than double the $2 billion invested in 2018.

Record-breaking rounds and Brazilian unicorns: In 2019, Rappi raised $1 billion from SoftBank, beating iFood’s previous record-breaking $500 million from Naspers in 2018.

Asian investment in Latin American fintechs: Nubank received $400 million -plus in 2019 from investors that included TCV, Tencent, Sequoia, Dragoneer and Ribbit Capital.

SoftBank has been investing in Brazilian and Mexican fintechs including Creditas, Konfio and Clip, throughout the year.

Latin America’s startup and investment ecosystem has likely more than doubled this year as compared to 2019.

These startups will continue to scale in 2020, taking on a regional presence to provide services to Latin America’s 650 million population.

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