50 startups in Peru ready to take-off

Recently announced successful rounds in Peruvian startups have highlighted the quality of local startup founders. They are also validation that Lima offers a great starting point for launching regional tech businesses. Examples of startups that have raised significant rounds of capital over the last twelve months are: Crack the Code, Crehana, Chazki, Favo, Leasy, and Turbodega. Add to these startup rounds the recent acquisition of Freshmart by Justo, and you have a multiple examples of capital entering Peru across a range of sectors and stages. Importantly, the capital is coming from top tier venture capital funds across Latin America, including Tiger Global, Elevar Equity, General Atlantic, and Kaszek.

The good news for investors is that this is the tip of the iceberg in terms of Peru’s startup potential. There is a growing list of up-and-coming startups in Peru. Most of these companies have achieved product market fit, raised a solid seed stage round and are growing fast. They have been supported by local seed investors including, AVP, Inca Ventures, The Board, UTEC Ventures, and Winnipeg Capital, all funded by private capital. In addition, local programs EmprendeUP, Endeavor ScaleUP, and USIL Ventures, have all provided essential support to get startups to the seed stage in a position of strength. These local sources of funding and support open up new paths to success for Peru’s startups.

Peru’s startups are on par with the best in the region, with many having achieved regional and global recognition by entering international accelerator programs including, 500, Latitud, Parallel 18, Techstars, and Y Combinator. 

This progress has put them in prime position ready for take-off. Watch out! 

• Agendalo
• Agente BTC
• Agros
• Aimo
• Alfi
• Altag
• Apurata
• Arcux
• Arisale
• B89
• Doctor CV
• ebombo
• ema
• Emptor
• Equip Industry
• eVolta
• Fitco
• Fitia
• Gamarra Click
• GetLavado
• Get on Board
• GoJom
• Hapi
• Joinnus
• Kambista
• Kashin
• KashIO
• Keynua
• Kurios
• Leasein
• Life Fitness Pass
• Lima Linen
• Linkminers
• Manzana Verde
• Maximo
• Medlink
• Megabite
• Mesa247
• MiBolsillo
• MiTienda
• Monkey Fit
• Moventi
• MyPay
• niewTech
• Nirex
• Ordery
• Peru Kitchens
• Preauth
• Prestamype
• Proximity
• qAIRa
• Qempo
• Quantum Talent
• Rebajatuscuentas
• Rextie
• Rita
• Riqra
• SeguroSimple
• Silabuz
• Skill Mapper
• Smart Doctor
• Somos Moto
• SpaceAG
• Sugo
• Talently
• Tenmas
• Terapy Go
• TiendaDa
• TuRuta
• Tumi Robotics
• UDocz
• Valia
• Wabu
• Wait n’ Rest
• Whipay

(I don’t think this is an exhaustive list. If you are aware of more, please add them to the comments below!)

All of the startups in this list more than fulfill most seed investors’ basic investment criteria of solid team and market validation. They are also solving real problems for people and companies in Peru and across Latin America.

Starting in Peru has given them a great beachhead market to learn and iterate. The limited capital supply locally means they have had to be more scrappy and bootstrapped than peers in better funded markets.

The good news for investors is that the excellent quality of early stage pipeline in Peru more than outpaces current investor interest.  Peru’s development bank recently launched a fund of funds with the objective of closing the local financing gap and putting money into fund managers that will help these startups reach the next step. It doesn’t need to look far to make high potential investments in the growing number of startups that are building the future of Peru.