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Unicorn corporations are named as such due to the perceived rarity of a privately-held startup reaching a valuation of USD 1 billion. However as time goes on, these “legendary creatures” have gotten an increasing number of frequent, even in Brazil. The nation has already recorded its first unicorn of 2022, when fintech Neon crossed the USD 1 billion threshold after receiving bumper funding from Spanish financial institution BBVA.
Journey-hailing app 99 turned Brazil’s first unicorn in January 2018, being joined later that yr by fintech Nubank and supply startup iFood. Three years later, the variety of startups to succeed in unicorn standing…
Entry all of The Brazilian Report
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