Andreessen Horowitz and NFX led a USD11.5m seed round for Latitud, a US and Brazil-based enterprise platform for Latin American startups’ company formation, cap table and cross-border capital management, with participation from Canary, Endeavor Catalyst, FJ Labs and Ganas Ventures. Latitud was founded by VivaReal Co-Founder Brian Requarth. Angels investing included David Velez (Nubank), Carlos and Loreanne Garcia (Kavak), Sebastian Mejia (Rappi), Sergio Furio and Ann Williams (Creditas), Sergio Fogel (dLocal), Daniel Vogel (Bitso), Matias Woloski (Auth0) and Dani Undurraga (Cornershop). Latitud will open a USD1.5m extension to accredited investors in an online event on April 5th at 6pm ET.
(Press Release) – Latitud, the fastest growing tech entrepreneurship platform in Latin America, today announced a $11.5 million seed round co-led by Andreessen Horowitz (a16z) and NFX with participation from Endeavor, Canary, FJ Labs, Ganas Ventures and top startup leaders across Latin America like David Vélez (founder of Nubank), Sebastian Mejia (founder of Rappi) and others. The new funding will enable Latitud to help tackle the highest friction points for early-stage entrepreneurs starting companies in Latin America which include company formation, cross-border capital, cap table management and access to world-class advice from accomplished operators and tech leaders.
Founded in 2020 by Brian Requarth, Gina Gotthilf and Yuri Danilchenko, Latitud launched amidst a period of immense growth in the Latin American startup ecosystem which saw more than 12x growth in startup funding in the last five years. While a record number of startups are getting funding, many of them lack the tools, knowledge, and ecosystem needed to survive. These problems were discovered first hand by Requarth when he sold his last company, Viva Real, for $550 million and lost more than $100 million due to incorporation errors made early on. 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“The infrastructure that exists in Latin America to support ambitious startups is outdated and manual, and I’ve seen first-hand how this barrier can kill very promising solutions,” said Brian Requarth, CEO and co-founder of Latitud. “Latitud is paving entrepreneurship dirt roads into superhighways for tech startups in Latin America.”
“Building a company is hard work and founders benefit tremendously from having an experienced and supportive community around them,” said Angela Strange, General Partner at a16z. “Latitud has built not only a valuable community of builders in Latin America – but has also created a unique and meaningful product offering that will accelerate time to market, starting with Latitud Go. We’re excited to join the Latitud team on this mission to accelerate the growth of world-class tech solutions made in Latin America.”
The company’s first product, Latitud Go allows any founder to intelligently incorporate a venture-backable company ready for global scale at the click of a button and at a price five times less expensive than what exists in the market today. The company has also seen tremendous success with Latitud Fellowships, a world-class educational programme and curriculum taught by accomplished operators at top tech companies around the world. The program has attracted more than 800 entrepreneurs who have gone on to raise $250 million at a total valuation of over $1.5 billion collectively. The company also has a venture arm, the Latitud Ventures, led by Tomas Roggio, which has invested in over 80 companies including Pomelo, BHub and Alinea.
“There are huge opportunities in Latin America right now, but many great solutions will fail because of bureaucratic friction points,” said David Vélez, founder of Nubank. “Latitud is building the infrastructure I wish I had when I started Nubank.”
The seed round also included numerous other key investors that will add tremendous value to Latitud’s network of startups. The investors include including David Vélez (founder of Nubank), Carlos Garcia (co-founder of Kavak), Loreanna Garcia (co-founder of Kavak) Sebastian Mejia (founder of Rappi), Ann 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 $1.5 million investment opportunity will be opened to the public in an online event that will take place on April 5th 2022 at 3:00pm PDT / 6:00pm 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 (early employee and former VP Growth at Duolingo, leading the company from 3 to 200 million users) and Yuri Danichenko (former CTO at a leading B2B tech platform in Brazil), Latitud is building infrastructure that will support the next generation of tech startups in Latin America.
The company is creating a suite of solutions to help tackle the highest friction points for early-stage entrepreneurs starting companies in Latin America: company formation, cross-border capital and cap table management. The company’s flagship offerings and programs include; Latitud Go, a tech platform for early company formation; Latitud Fellowships, an educational and networking program for entrepreneurs; and Latitud Ventures, which includes a rolling venture fund that has already invested in 80 startups. Latitud is a fully distributed company born at the beginning of the COVID pandemic and has no physical headquarters. Learn more at: www.latitud.com
For Ventures-related inquiries, please contact [email protected].