As one of the largest funding rounds in the region, Latitud will use the funding to expand its technology platform and educational programs that have already helped 800 founders raise $250 million at a collective value of $1.5 billion
SAN FRANCISCO, March 28, 2022 /PRNewswire/ — Latitudethe fastest growing tech entrepreneurship platform in Latin Americatoday announced a $11.5 million seed round co-led by Andreessen Horowitz (a16z) and NFX with participation from Endeavour, Canary, FJ Labs, Ganas Ventures and startup leaders across Latin America like David Vélez (founder of Nubank), Sebastien Mejia (founder of Rappi) and others. The new funding will allow Latitud to help address the biggest pain points for start-up entrepreneurs building businesses in Latin America which include company formation, cross-border capital, capital table management and access to world-class advice from accomplished operators and technology leaders.
Founded in 2020 by Brian Requarth, Gina Gotthilf and Yuri Danichenko, Latitud was launched amid a period of immense growth in the Latin American startup ecosystem that saw more than 12x growth in startup funding over the past five years. While a record number of startups are securing funding, many lack the tools, knowledge, and ecosystem needed to survive. These issues were discovered first hand by Requarth when he sold his last business, Viva Realfor $550 million and lost more than $100 million due to incorporation errors made at the beginning. Through its platform and suite of software products, Latitud provides founders with the tools they need to avoid these mistakes and thrive.
“The infrastructure that exists in Latin America supporting ambitious startups is outdated and manual, and I’ve seen firsthand how this barrier can kill very promising solutions,” said Brian Requarth, CEO and co-founder of Latitud. “Latitud opens up dirt roads from entrepreneurship to highways for tech startups in Latin America.”
“Building a business is hard work and founders benefit immensely from having an experienced and supportive community around them,” said strange angela, general partner at a16z. “Latitud has built not only a valuable community of builders in Latin America – but also created a unique and meaningful product offering that will accelerate time to market, starting with Latitud Go. We are excited to join the Latitud team in this mission to accelerate the growth of class-leading technology solutions. worldwide manufactured in Latin America.”
The company’s first product, Latitude Go empowers any founder to smartly incorporate a global-ready business with one click and at a price five times cheaper than what’s on the market today. The company has also had tremendous success with Latitude Scholarships, a world-class educational program and curriculum taught by accomplished operators at top technology companies around the world. The program has attracted over 800 entrepreneurs who have continued to elevate $250 million at a total valuation of over $1.5 billion collectively. The company also has a venture capital branch, the Latitude Venturesdirected by Tomás Roggiowhich has invested in more than 80 companies, including Pomelo, BHub and Alinea.
“There are huge opportunities in Latin America right now, but many great solutions will fail due to bureaucratic sticking points,” said David Vélez, founder of Nubank. “Latitud is building the infrastructure that I wish I had when I launched Nubank.
The round also included many other key investors who will add tremendous value to Latitud’s network of startups. Investors include David Vélez (founder of Nubank), Carlos Garcia (co-founder of Kavak), Loreanna Garcia (co-founder of Kavak) Sebastien Mejia (founder of Rappi), Anne Williams (COO of Creditas), Sergio Fogel (co-founder of dLocal), Sergio Furio (founder of Creditas), Daniel Vogel (founder of Bitso), Matias Woloski (co-founder of Auth0), Dani Undurraga (co-founder of Cornershop) and others.
An additional amount of $1.5 million the investment opportunity will be open to the public in an online event which will take place on April 5 2022 to 3:00 p.m. PDT / 6:00 p.m. EDT. Sign up to join at: futuro.latitud.com.
Latitud is the fastest growing tech entrepreneurship platform in Latin America. Founded in 2020 by Brian Requarth, Gina Gotthilf (first employee and former VP of Growth at Duolingo, growing the company from 3 to 200 million users) and Yuri Danichenko (former CTO of a leading B2B technology platform in Brazil), Latitud is building an infrastructure that will support the next generation of tech startups in Latin America.
The company is creating a suite of solutions to help solve the highest sticking points for start-up entrepreneurs starting businesses in Latin America: business creation, cross-border capital and capitalization table management. The company’s flagship offerings and programs include; Latitude Goa technology platform for early business creation; Latitude Scholarships, an education and networking program for entrepreneurs; and Latitude Ventures, which includes a venture capital fund that has already invested in 80 startups. Latitud is a fully distributed company born at the start of the COVID pandemic and has no physical headquarters. Learn more about: www.latitude.com
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