Latino Startups That Are Crushing It During the Pandemic

Latin America has been characterized by its resilient and hard-working spirit. People use their creativity to tackle many of the daily problems faced by the majority of our population. This is why it is no secret that entrepreneurial spirit in the midst of monumental crises is common and even favorable.

In this region, the main ventures are in the education, finance, retail, and logistics industries, as well as services. Success stories such as the Argentine Mercado Libre or the Colombian Rappi are proof that today most of them have found their main ally in technology.

We take a tour of the startups that have been growing and which ones you should track for investment purposes. 

Ayenda Hoteles

This Colombian low-cost hotel chain is the Latin American hotel chain with the highest growth in recent months. In addition, it is currently the chain with the largest number of properties in the country.

Its model is franchising, small hotels in the main cities to guarantee quality to guests in one of the countries with the highest hotel growth in the region. Ayenda Hotels also provides software for hotels that guarantees better customer service and quality. For example, the payment of reservations can be made virtually with a purse that is recharged at strategic points in almost any neighborhood in the country.

Ayenda currently has hotels in 17 urban centers in Colombia, in Peru (Lima and Arequipa), and in Mexico City. Obviously, the pandemic was not good for the company, but better moments will come. In addition, they were in charge of offering low-cost rooms for employees of the health sector during the pandemic.

Ualá

This Argentine finance (fintech) application is one of the main startups in this sector of the southern country. Its campaign in the midst of the pandemic to donate to the Argentine Red Cross gave it a lot of recognition. 

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The company also has a credit card that you can get almost immediately and with which you can enter the financial world. The company was created in 2017 with the idea of increasing financial inclusion in the country and today it has millions of clients.

Kambista

This Peruvian currency exchange platform is one of the sensations of the Inca country. It allows users to exchange, quote, transfer, and receive money from soles to dollars. It has more than 650 thousand successful transactions and 142 thousand registered users, and it is an excellent option for tourists who want to discover the secrets of Peru.

The company was created in 2016 and won in 2018 the award for the Best Start-Up in Peru, the international James McGuire Business Plan Competition. In 2019 they opened offices in Argentina with the intention of internationalizing the company and increasing its services.

Atexto

This Mexican start-up wants to revolutionize customer service in Latin American companies with the use of bots. Atexto uses Machine Learning so that its bots can interact in 25 languages, including Spanish, French, English, and German.

Its algorithm identifies patterns of texts and conversations in order to provide a timely, efficient and cheap response to the public of its client companies. It is expected that it will soon be able to compete with multiple companies using Artificial Intelligence across the planet.