Latitud, a technological entrepreneurship platform, announced a seed round of 11.5 million dollars to expand its platform and reach more entrepreneurs in Latin America.
The round was led by Andreessen Horowitz (a16z). And it also had the participation of NFX, Endeavor, Canary, FJ Labs and some of the founders of startups in the region, such as David Vélez, from Nubank; Carlos and Loreanne GarcÃa, from Kavak, and Sebastián MejÃa from Rappi.
“With this seed round, Latitude will continue to build fully integrated tools for early-stage founders to launch a company, raise capital from strategic investors, and subsequently manage their capital and cap table in one place,” said Yuri Danilchenko, CTO of Latitude.
Today more than ever the entrepreneurial ecosystem in Latin America is growing by leaps and bounds. In the first half of 2021 alone, venture investment reached $6.4 billion in the region, 56% more than in all of 2020, according to the Latin America Private Equity and Venture Capital Association (LAVCA), but although each time there is more capital, there is still a lack of support for entrepreneurs, which is why Latitud focuses precisely on addressing and solving the biggest friction points for early-stage entrepreneurs starting companies in Latin America.
Latitud aims to connect early-stage technology entrepreneurs in Latin America and create a community that helps them with business formation, access to international capital, cap table management and access to world-class mentoring by of accomplished technology leaders and operators.
“The infrastructure that exists in Latin America to support ambitious startups is outdated and manual, I saw firsthand how this barrier can kill very promising solutions,” said Brian Requarth, CEO and co-founder of Latitud.
The company has the support of entrepreneurs such as David Arana from Konfio and Oscar Hjertonsson from Cornershop. In addition, “the unicorn founders, Gerry Colier de Clara and Daniel Vogel de Bitso, are part of the first group of the Latitud Angel Fellowship,” the firm said in a statement.
Latitud Ventures, the company’s investment arm, manages the first “Rolling Fund” in the region, which has already invested pre-seed and seed checks in more than 70 companies, of which 15 are Mexican, including Yuno, Flexio, Boss, Reworth and Castor.
