☀️ Good morning!
After an almost year-long hiatus, we're introducing our revamped newsletter. From now on you'll get the latest updates on Latam's entrepreneurial and VC ecosystem straight in your inbox every Thursday.
We're not kicking things off with predictions for 2022; we asked a few regional investors to give us their solid insights instead. Rather, we're keeping an eye on what's already happening:
- 1. A new generation of startups that are vying to solve problems created by veteran disruptors –or, the ones cleaning up what broke when pioneers moved too fast. One example: the gig economy fueled by Uber, Rappi, and other ride-hailing or delivery startups has created 1.1 billion gig workers worldwide. Bankuish is a new fintech offering a credit score for the underbanked –gig workers, mainly– based on their work reputation. Mexico City-based Ozon offers loans for delivery workers to buy their own motorcycles.
- 2. While VC money is vastly flowing to feed the entrepreneurial appetite in Latam, it's sparked another competition: the one for talent. Highly skilled tech professionals in industries like e-commerce, fintech, and AI are scarce in Latam. It is a problem that has long been simmering for several reasons. And while edtech companies are trying to bridge the skills gap and create a new tech talent pool, companies like Ecuador-based Kushki are bringing in big names from large corporations to lead as they grow.
- One of Latam's prominent VC firms is forcing the ecosystem to stop pushing uncomfortable discussions under the rug. Yesterday, finally, ALLVP's cofounder and remaining partner broke the silence regarding Fernando Lelo de Larrea's departure from the firm after allegations of harassment went public in December. We're looking for more info on this, but in the meantime, we are aware that abuse of power, gender discrimination, and sexual harassment are vices that come with the startup/VC industry. It's only now that people, both in funds and startups, are starting to speak up. It is a stark but much-needed reminder of the long road the Latam ecosystem still has to walk to truly mature.
Thoughts? Announcements? Interesting things you want to share? Shoot us an e-mail at staff.contxto@gmail.com!
–Daniela Dib
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