Knowing which are the Mexican startups that are revolutionizing the Latin American market will help you to have a notion of the difficult process of consolidating a company. There are dozens of companies that appear daily and few of them manage to consolidate in the market of their interest, either for lack of consistency, discipline or because it was not the most convenient business.
As the years go by, it is more complicated to create a startup that is innovative and functional; however, there are some startups in Mexico that are responding to major current problems and that can serve as inspiration for you.
According to Yoel Chlimper in the online course Entrepreneurship to be happy, the act of entrepreneurship “implies investing time in something that nourishes us, not only monetarily, but also intangibly”. However, these innovative companies in Mexico have managed to turn intangible satisfactions into big businesses that generate a lot of money.
are startups in Mexico really that good? In today’s article, you will learn about 23 Mexican startups that are innovating in the country. At the end, we are sure you will have new knowledge to found your own startup. Don’t miss this spectacular journey!
1. Kavak
Kavak is one of the most successful Mexican startups par excellence. With only 4 years of life, to mention Kavak, “unicorn” among the most successful startups, is to talk about a platform highly specialized in buying and selling used cars online.
Founded by Carlos García Ottati, Loreanne García Ottati and Roger Laughlin, Kavak obtained a round of investment from SoftBank, DST Global, Kaszek Ventures, Greenoaks and General Atlantic, which allowed it to raise some 400 million dollars.
With this, Kavak became one of the fastest-growing Mexican startups, reaching a valuation of more than 1.15 billion dollars, a factor that makes it the first unicorn company in the country.
Kavak is one of the Mexican startups that has already begun its expansion process, confirming its arrival in the Argentine market after the acquisition of the company Checkars. Not bad for a Mexican “unicorn” startup.
2. Clip
If we are talking about Mexican startups, Clip is another of those companies that does not stop growing. In fact, it was competing with Kavak for the title of “best unicorn startup in Mexico”. Although Clip has not yet been named as such, it is very close to becoming one of the Mexican unicorn companies, according to Mexican specialists and entrepreneurs.
Clip is a Mexican startup that belongs to the Fintech category. Founded by entrepreneur Adolfo Babatz, the company came to solve the problems of small businesses, which did not accept card payments.
So, thanks to Clip, now everyone can accept card payments with just a smartphone. Ranked as one of the best startups in Mexico (and certainly one of the famous startups), this company is the most recognized brand for accepting mobile payments in the country.
This company has been characterized by following, faithfully, the most important rules when you have a startup
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3. Sofia
Sofia is one of the Mexican startups that has experienced the greatest growth, especially since 2020, a year that was marked by the health crisis produced by COVID-19.
Sofia is a startup that offers medical advice through video consultations conducted by specialists. And particularly this year it has had a great activity because of all the consultations that were related to COVID-19.
Founded by Arturo Sanchez, Sofia is one of the startups in Mexico that has contributed the most during this juncture by attending more than 2,500 free video consultations, from which more than 60 possible cases of COVID-19 could be detected.
Sofia aims to make healthcare easily accessible to everyone through a personalized plan. This includes the following:
Preventive care.
Videoconsultations with specialists.
Coverage of medical expenses.
All this through the app. Undoubtedly, one of the Mexican startups that contributes to the world of health in the best way.
4. Jüsto
The concept of this successful Mexican startup oriented to make purchases online, is already something that is seen very often. However, Jüsto totally innovated this, becoming the first fully virtual supermarket. This made it one of the most famous startups in Mexico.
Jüsto founder and CEO Ricardo Weder said in an interview:
“We want to use technology to change the operating model and take advantage for producers. A traditional supermarket has a 35% shrinkage and we aim to have a shrinkage of only 3%”.
Jüsto’s value proposition is to provide high quality products at a competitive price. Thanks to this proposal, this Mexican startup received an investment round of US$12 million, an amount that will serve to initiate its expansion process in the region.
Soon, and after having established itself as one of the best startups in Mexico, it will reach countries such as Colombia, Chile and Peru.
Image: Jüsto
5. Konfío
Another fintech appears on the list of Mexican startups that can serve as an inspiration to entrepreneurs. It is Konfío, a company whose mission is to help small and medium-sized enterprises (SMEs) obtain financing.
Founded in 2013, Konfío identified that SMEs have difficulty finding capital. This, taking into account that banks seek collateral to grant loans to SMEs.
Konfío is one of the startups in Mexico that believes that a data analysis of transactions provides enough information for companies to obtain a loan in just 24 hours.
In seven years in the market, Konfío already has more than 400 collaborators and different plans for both entrepreneurs and SMEs. On its own merit, it has become one of the best startups in Mexico.
6. WePow
If you have a company or lead a Human Resources team, WePow is one of the Mexican startups on this list that you will undoubtedly like.
It is aplatform that will allow you to find the ideal candidate for the position and that will not only benefit you, but also the applicant because, in addition to having a friendly interface, it will also allow you to save travel costs and all that a conventional job interview implies.
This whole process is done through personalized videoconferences, which optimizes the choice of the candidate because you can evaluate other parameters that are not usually asked in a conventional process.
It is one of the startups in Mexico with the greatest potential. Currently, WePow is one of the Mexican startups that also operates in the U.S. market.
7. Urbvan
According to the INRIX portal, Mexico City is one of the cities in the world with the worst vehicular traffic and while Urbvan does not aim to combat it, it does seek to improve the user experience through an interesting proposal for shared private transportation.
Urbvan is one of the Mexican startups that has more acceptance in the market, thanks to an experience that includes:
A van with a professional driver.
Comfortable seats.
WiFi and plugs to charge any electronic device.
This Mexican startup does not intend to compete with the most famous cab apps, but rather to complement them by offering a cheaper service, although slightly more expensive than public transportation. It is among the best startups in Mexico, and definitely one of the most useful.
Although they are currently only operating in Mexico City, in the medium term they are looking to enter other Latin American cities with complicated traffic, such as Bogota, Sao Paulo or Lima.
8. Klar
Mexican startups that belong to the fintech ecosystem are the ones that have been experiencing the most growth, and Klar is one of them.
Klar is a fully digital alternative to traditional debit and credit transactions, which even gives you cash for making purchases with its card.
In fact, Klar, with only a few years in the market, is one of the Mexican startups that grew the most during the health crisis, with more than 200,000 customers and 25,000 loans granted.
This growth can be seen reflected in the investment round it closed for 15 million dollars, a budget that will serve not only to increase its operations in Mexico, but also in Berlin, where it has a team of engineers.
9. Bitso
Cryptocurrencies are here to stay and Bitso, one of the technology startups in Mexico, knows it. It was one of the first companies to recognize that the process to exchange some cryptocurrency for real money is somewhat tedious for many, so it saw the need and made this its business model.
Founded in 2014, Bitso offers an intuitive platform to perform this currency exchange through its app, from which you can not only buy, sell or exchange cryptocurrencies, but also make payments in commercial establishments that allow it.
In addition, according to the StartUp Ranking platform, Bitso is one of the Mexican startups with the highest recognition worldwide. In 2019, the company was awarded for being the safest cryptocurrency exchange house in the region and one of the 20 most trusted in the world.
10. Moons
Moons is one of Mexico’s startups that was born out of a purely personal experience of its founder, Tommaso Tomba, who was going for a treatment with invisible dental aligners in London for a price that hovered around $7,000.
Due to the high cost, Tomba began to investigate the market for dental aligners and identified that the demand was quite high in Mexico. This is how Moons was born, a platform that manufactures invisible brackets with the help of 3D printing at a cost up to 65% lower than conventional treatments on the market.
It all starts with a fairly simple evaluation that Moons performs for you from its platform, to then contact you and start with the treatment.
This is one of the Mexican startups that has concrete plans for expansion, with short-term objectives in Peru and Chile, where they will arrive in January of next year. They are even evaluating their entry into the United States.
11. Oyster Financial
On the other hand, in this list of innovative startups from Mexico, we have Oyster Financial. This startup is oriented to the “financial technology” sector. what does that mean? It seeks to satisfy solutions and/or alternatives to financial organization problems through technology.
Being precise, Oyster is a startup from Mexico that works as a smart wallet and, at the same time, as a debit card. It is oriented towards:
Freelancers,
Entrepreneurship and
MYPES (Micro and Small Enterprises).
The operation is based on a mobile app with tools oriented to financial control and advice for your business, such as expense reports, budgets, etc. The Mexican startup has had such an important growth that in 2020 it partnered with MasterCard to issue a new debit card.
This innovative startup of Mexican origin has managed to stand out because, although many financial applications have been created in Mexico, they were all oriented to large companies and to issue good sums of money in credit. However, Oyster advocates for smaller businesses and helps them to continue growing, keeping order in their economy.
without a doubt, it is one of the best examples of Mexican startups that are emerging!
12. GuruHotel
GuruHotel is a Mexico startup founded in 2019 by Jorge Flores, Josue Gio and Stiven Martinez. The raison d’être of this startup is to function as an ecommerce platform for independent hotels, or hotels that have just started, in order to optimize the newest hotel sector in Mexico.
It has a web page where all the corresponding reservations are made. In addition, it has a series of extra management tools and relevant data of the hotel in which you plan to stay. It is one of the most relevant startups in Mexico, since independent hotels have felt backed and supported by this venture.
Another advantage to mention is the possibility for GuruHotel to maintain direct contact with larger platforms such as Booking, Airbnb, Expedia, etc. Undoubtedly, one of the fastest growing startups in Mexico in the last 2 years, with an increase of 48% per month.
During the context of the health crisis, GuruHotel has been a lifesaver for small hotel businesses, which is why the Mexican startup is not only an example of business, but also of solidarity.
13. Crabi
Continuing with these innovative startups from Mexico, we bring a startup oriented to vehicle insurance: Crabi.
This startup company allows you to quote and purchase vehicle insurance from an app, where you will find different options (depending on your needs), at a more affordable price than in other insurance companies.
According to data from the Mexican startup Crabi, its customers save 15%, which is equivalent to charging agents in other insurance companies.
One aspect that currently limits this Mexican startup is that it only serves clients in certain Mexican states; however, the insurance policies issued have coverage throughout the country, so it is still a great option.
What makes this business different is that Crabi managed to become the first full-stack insurtech startup, which means that they take care of the entire process of acquiring and applying for vehicle insurance. They also managed to reduce the prices that customers were used to. a very successful business that is still paying off big time today!
14. Kichink
Kichink is a Mexican startup led by Claudia de Heredia, one of Mexico’s leading entrepreneurs, and Claudia del Conde. In simple words, it is one of the many startups in Mexico oriented to the e-commerce of clothing and clothing accessories.
Its main target is small startups that want to get more reach for their products, which they can achieve through Kichink.
The startup business in Mexico has a website and a mobile app, both of which are easy to use and have a very intuitive interface. Precisely, the simple and straightforward design allows any entrepreneur to sell their products without any problem.
What probably made Kichink become one of the most famous startups in Mexico is that its access is free for any entrepreneur and provides the possibility to connect with the networks of each company.
Something we cannot overlook is that it is one of the few startups in Mexico with international recognition. Specifically, it was named as one of Google’s top startups in the last Demo Day for Entrepreneurs Women ‘s Edition.
If you are interested in e-commerce and you are thinking of founding a startup in Latin America, you can take as a reference this great initiative that is giving a lot to talk about in Mexico.
5. Calii
Now we will tell you about one of the most important Mexican startups that found in e-commerce an opportunity to stand out: Calii. Unlike GuruHotel, this startup found its business opportunity in Mexico’s fruit and vegetable market.
It sounds amazing how from something as basic as selling fruits and vegetables, you can generate such an ambitious startup business that supports both producers and end customers. It is precisely the latter that has led Calii to stand out from other produce businesses.
The company automates and advises producers, providing them with different technologies to better manage their food production. Also, in the Mexican startup application, customers can schedule their orders in advance so that they can be delivered to their doorstep.
Another advantage of Calii is that it allows customers to shop in groups, which saves them money on all their purchases.
In terms of figures, not only consumers get facilities and great savings, but it is estimated that fruit and vegetable producers get 3 times more than their usual profits. A business that, without a doubt, cares about everyone and has managed to be one of the main Mexican startups of 2021.
It is one of Mexico’s startups with the best value proposition, which instead of limiting itself to an existing logistics chain, decided to build its logistics from scratch by directly connecting the countryside and the city.
16. Nowports
are you interested in logistics? you’re in luck! Meet Nowports, a startup in Mexico that seeks to digitize and simplify freight service, through a platform powered by Internet of Things, Artificial Intelligence and Big Data.
Probably, you don’t understand much what all those programs are, but, in simple words, Nowports is in charge of identifying shipping routes, better shipping schedules, etc. Let’s say that this Mexican startup works as a courier service.
If we are more specific, Nowports focuses on three aspects:
Calculate the actual shipping time.
Solve and collect the necessary documents at customs.
Make the respective reports of the containers shipped.
Although it is a Mexican digital enterprise, by working with different countries, it has managed to establish international offices in countries such as Chile, Colombia, United States, among others.
It is important that, although there are many companies dedicated to the export and import of products, all of them are in charge of providing you with dates of departure and arrival. The customer pays without knowing exactly what processes are carried out so that the goods arrive safely. What Mexico-based startup Nowports offers, with its big data system, is that the customer knows all the processes.
17. Atexto
Now, in this great list of innovative and successful startups from Mexico, we will introduce you to Atexto. This startup was born with the initiative to improve the artificial intelligence of different websites, so they began to develop chatbots and voice recognition through Machine Learning, a program that allows training the bots to understand complex conversations in different languages.
Currently, the clients of one of the best Mexican startups are those oriented to customer service, such as call centers, companies looking for predetermined text answers and audio messages.
What has allowed them to become a startup in Mexico very attractive to people is their ability to offer well-designed artificial intelligence, with accurate and meaningful answers. All this was thanks to the crowdsourcing model, which was implemented by the company itself.
Undoubtedly, it is an example that if you really want to improve a product or service of your business, you can help you with these incredible startups in Mexico.
18. Robin
When we talk about the best startups in Mexico, we cannot leave Robin out of the list, one of the most interesting projects of all those mentioned. Mainly, because this company appears to solve one of the main shortcomings within the current educational system: financial education from an early age.
This application is ideal for children from 8 to 14 years old, as it teaches them everything they need to know about topics such as the following:
Saving methods
Budgets
Investments to generate income
Credit requests
Although these are topics that are usually avoided until adulthood, this Mexican startup makes them accessible so that, from a very early age, people know how to handle these types of procedures. And if you think it must be a boring application with boring theoretical concepts and definitions, get ready to be surprised.
Through playful activities and given that the application simulates a digital piggy bank, this Mexican startup has brought to the forefront a very accessible experience that promotes financial education among young people. It also serves as a way to start training future entrepreneurs.
9. Modebo
This is one of the Mexican startups that is oriented to reduce energy consumption in large buildings and, in this way, save costs and take care of the environment. All this has made it one of the most innovative and successful Mexican companies.
Through the use of digital technology, Modebo is responsible for developing a monitoring system that works with a wireless meter, whose function is to check the electricity consumption of the building.
how does this Mexican startup work? We explain the whole process of the application:
First, the meter is installed in the building.
Subsequently, the data is sent to a platform, where the data is sorted and analyzed.
The data is reflected, focusing specifically on energy wastage in appliances such as lighting or heating.
Once the information is reviewed, the user can make real-time decisions about energy waste.
This system created by this Mexican startup works especially well in shopping malls, schools or offices, allowing these facilities to reduce energy consumption and save costs, in addition to contributing to the environment.
20. Strap Technologies
If we talk about Mexican startups that are in the line of innovation and revolution, it is impossible that we do not mention Strap Technologies. this company has managed to consolidate itself as one of the most interesting options to take into consideration for the public on which it is focused: the visually impaired.
For this sector of the population, this Mexican startup put at the service of the latest technology: the strap. This device is responsible for detecting any possible obstacle or possibility of collision, through vibrations.
the cane has already taken a back seat! And not content with this enormous boost, the company is determined to help people with disabilities achieve the autonomy they need, both personally and professionally. That makes this organization one of the most socially committed startups in Mexico, which is why it deserved a place on this list.
21. Credijusto
Credijusto is a Mexican startup that works for other companies and helps them operate. Credijusto is a fintech that has become a very reliable and stable credit alternative for corporations.
What is really beneficial about this company is that it is a completely digital alternative, which has various plans and benefits to favor other companies that require it. This company offers services such as the following:
Factoring
Fair credit
Agile credit
Leasing
This is one of Mexico’s longest running startups on this list, dating back to 2014 and currently employing some 270 people.
22. Minu
This company, specialized in financial technology, has one of the greatest endorsements of the entire list: Minu is, no more and no less, the first company that has received investment from QED Investors, a fund that has as partners entrepreneurs and illustrious personalities such as Bill Gates, Jeff Bezos or Mark Zuckerberg.
Thanks to this Mexican startup, waiting for payroll is a thing of the past. Minu offers multiple advantages, both for workers and for the company itself:
Employees will have access to their salary (already worked) whenever they require it, 24 hours a day, 7 days a week. No loans or interest are involved, withdrawals are made from their payroll account.
Companies will not have any type of installation or maintenance cost, besides being free of any financial risk. It has a quick and easy implementation and does not affect payroll processes.
Founded in 2019, this company, with a little more than 76 employees, has become a viable alternative to improve the financial health of thousands of people. For this reason, it is one of the startups in Mexico with the greatest possibilities for growth in the short and medium term.
23. Homie
One of the most outstanding startups in Mexico within the real estate sector. This company, founded in 2015, is a platform that is responsible for facilitating the process of renting real estate throughout the country, ensuring greater simplicity in the process.
what does Homie allow Homie to do? This company offers a reliable, fast and secure experience, in which large expenses are eliminated, as well as bureaucracy or signatures on lease contracts.
The process is simple: once you locate the place of your dreams, you proceed to make your application and set it aside. After that, you make the first payment (in order to generate the rental contract) and that’s it! You proceed to sign your contract, instantly receiving the keys to your home.
The Mexican business market has always been characterized by creative people and born entrepreneurs who seek to get ahead by creating the best companies, which are useful for their compatriots. It is precisely the support of other Mexicans that allows Mexican startups to be visible on an international level.
As you can see, Mexican startups are becoming increasingly important not only in the region, but also in the world. And many emerged at the moment they recognized a need and devised the way in which it could be solved.
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