A recent study was carried out by the open innovation platform Distrito, which showed the 20 startups with the greatest potential to become unicorns by the end of 2023.
The criteria was based only on companies that have raised above-average levels in investment rounds and have not yet made an IPO.
These companies are making headlines in the speed of light. In April, Stark Bank became the first Brazilian startup to receive an investment from Jeff Bezos. The Amazon founder’s family fund is part of a Series B round led by Ribbit Capital. The fintech, which has QuintoAndar, Loft and Daki as clients, raised a total of $45 million on a valuation of $250 million.
Digital bank Neon was on the list earlier this year when it started developing the ranking – but in February 2022 it raised $426 million for a market cap of $1 billion. It is no longer a candidate to be another Brazilian unicorn.
Among the main candidates we can find:
In this list, Fintech is the highlight segment representing 35% of the total with 7 startups. AgFoodtech is next with 15% followed by SaaS, Transportation and Marketing/Media, with a 10% share each. Edtech, Heathtech, Pettech and Retailtech represent 5% each with one startup in each category.
Although the concentration in fintech and AgFoodtech, it is noticeable that the unicorn potential is well diverse in Brazil, which is the outcome of a mature ecosystem for tech compannies.
GMC Partners has been approached by either Brazilian and Foreign ecosystem enablers to exchange knowledge, experience and business in the coming months. Brazil is ready for global connections in which their unicorns can fly.