2024年拉丁美洲科技报告

A look into LatAm's tech futurefrom the eyes of its builders It's the third year of The LatAm Tech Report. And once again, we see the expansion of Latin America. From Tijuana to Tierradel Fuego, our GDP now surpasses US$ 7T, as we're inching closer and closer to 700 million inhabitants. But we aren't dedicating this year to expansion.We're dedicating it to beginnings. We hope here to value our differenceswhile bonding through similarities. Abig one we love to state time and timeagain: LatAm founders just find a way tomake it work, due to their capacity totransform challenges that seem asinsurmountable as Aconcagua intoopportunities as vast as the Amazonriver. Add into that journey a longstartup winter that taught us all to beeven more resourceful, and you seefounders who are just a force to bereckoned with. Each Latin American country, startup, andfounder is carving their own path ofvalidation, traction, scale, and maturity.Throughout this report, we spottedasymmetries across regions, sectors,ideas, and entrepreneurs. Banking,payment methods, software, e-commerce, regulations: cross frontiersand you'll find a different opportunitystory at every corner. Understanding localnuances is a privilege we have as localfounders and investors. Yet as we read between the lines, wealso found commonalities. We all seehow much we still need to do to bringefficiency to fragmented sectors; butwe also see just how much we canleapfrog if we're smart about what wehave in our hands – from WhatsAppmessages to AI models. You'll find plenty of them in the next pages – and many more in your travels across Latin America.Hit us up when you're around, and Vamos LatAm!

 The Latitud Team OPENING LETTER The LatAm Tech Report looks into Latin America's tech future from the eyes of its builders. Through the Latitud Founder & Investor Survey 2024, dozens of early-stage founders (up to Series A), investors, andoperators across the region shared their perception of the fundraising environment, the maturity of their markets in LatAm vsthe world, the adoption of artificial intelligence, and segmented trends, opportunities, and challenges. This ecosystemperception was paired with a look at LatAm's most recent data and deeper conversations with another 50+ founders andinvestors. The LatAm Tech Report 2024 starts with the state of the general startup market in LatAm. We then explored four segmentsin more detail: Fintech, SaaS, E-commerce/Logistics, and (of course) AI. We asked ourselves three main questions: The Trends: what's changing and how are startups leveraging it? Taking into account market movements and the state of tech adoption of each sector, we highlight the macro and micro trends that already presented sizeable growth and will continue to do so. The Opportunities: what can we and startups expect in the medium term?
For founders and investors looking at 3+ years, we have also explored future movements in each sector: new consumer behaviors and demands, remaining underserved markets with pressing needs, and gaps that can turn into opportunities in thehands of the right entrepreneurs. The Challenges: how should we prepare? We also present some present and future challenges that founders and investors in each sector will have to overcome to see traction, expansion, and maturity. Latitud is the first-check partner for LatAmfounders building good sh*t. We invest in topemerging founders from ideation to conviction. Go from zero to one Meet some of our portfolio companies Raise your pre-seed round, getting the capitaland guidance to validate key hypotheses withoutdiluting too much equity.

 Get the transformational fundraising advice andnetwork that'll lead you to your best next round. INDEX Introduction: The LatAm Startup Market in 2024The Future of FintechThe Future of SaaSThe Future of E-commerce and LogisticsThe Future of AITeam, Data & Insights Partners, For More Content THELATAMTECHREPORTIntroduction: The LatAm Startup Market in 2024 SOURCES The startup winter continues in 2024 YTD 2024's slowdown, even in relation to the also tough previous year, was somewhat expected. Many fundsfocused on raising capital this year, limiting their ability to invest. We see a continuation from last year in 2024, yet with asignificant uptick in later rounds and a more diversifiedmix of global investors in the second half of the year, asseen in the rounds of QI Tech, Cayena, and Ualá.
 We’re entering a decreasing cycle of rates in the US,which should positively impact capital flows to LatinAmerica. Yet there’s a lagging effect from public tolate-stage private to early-stage private markets, not tomention a lack of liquidity. And so, in LatAm we’ll see not a cyclical but a seculargrowth, driven by fundamentals: founders doing theirjob of building world-class companies. Mexico inches closer to Brazil in venture capitalvolume in 2024 Venture capital funding to startups in selected LatAm countries, 2022 to Q3 2024 ($M