Nubank's number of customers in Brazil 2016-2022
Startup categories
Startups are defined as new innovative business created by entrepreneurs aiming to make an impact and take over a market. According to their value, successful startups can be divided into three main categories: unicorns, decacorns, and hectacorns. Unicorns are privately-owned startups valued at one billion U.S. dollars or more. Meanwhile, decacorns and hectacorns are also privately-held companies that have reached a market value of over 10 and 100 billion U.S. dollars, respectively. As of 2022, there were more than 1,000 unicorn startups worldwide, most of them located in the United States and China.
Entrepreneurship in Latin America
With only 24 startups valued at over one billion U.S. dollars as of 2022, Latin America is one of the regions with the lowest number of unicorns worldwide. However, it is one of the most active regions for entrepreneurial activity. For instance, more than three out of 10 Colombians in the working age population are actively involved in setting up new businesses, as compared to an average of 9.4 percent in Asian countries.