Latitud Secures $11.5 Million in Seed Funding to Scale Next Generation of Tech Startups in Latin America
Summary
As one of the largest seed rounds in the region, Latitud will use the funding to scale its tech 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/ -- , 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. Founded in 2020 by Brian Requarth, Gina Gotthilf and Yuri Danichenko, Latitud launched amidst a period of immense growth in the Latin American startup ecosystem which saw more than in the last five years. "The infrastructure that exists in Latin America to support ambitious startups is outdated and manual, and Ive seen first-hand how this barrier can kill very promising solutions," said Brian Requarth, CEO and co-founder of Latitud. "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. "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.