Argentina is a nation of entrepreneurs, and its capital, Buenos Aires, is vibrant and charming. This colorful city, with its distinctive neighborhoods that blend European elegance with South American vibrancy, remains inviting, safe and always interesting. All these factors have helped the city boast the highest number of startups in Argentina, reaching 248 by 2020, according to Statista.
Is Buenos Aires a good place for a startup?
Buenos Aires is the largest startup hub in Argentina. The region’s fintech ecosystem has spawned unicorns such as Ualá, with Buenos Aires being one of its main centers. However, entrepreneurs face some challenges, mainly due to economic instability. Notably, however, Argentina’s GDP grew significantly, registering an increase of 10.4% in 2021 and 5.2% in 2022. Still, according to the World Bank, inflation increased by more than 100% annually by February 2023.
10 startups to watch in Buenos Aires
From Ualá’s innovative approach to personal financial management to Boostribe’s revolutionary team collaboration tools, these 10 startups are set to redefine the future of startups in Buenos Aires in 2024 and beyond.
1. Uala
Uala is a mobile app for personal finance management. Since being acquired by Ualá, it has become a unicorn fintech platform, disrupting traditional approaches by offering an innovative mobile app that is changing the way people manage their personal finances.
2. Buntan
Founded in 2021, Pomelo currently employs around 300 people and specializes in building technology infrastructure for fintechs and financial service providers by providing advanced development tools, web solutions and data storage technologies. Pomelo helps drive growth and efficiency for both startups and traditional financial institutions.
Funding: The company has raised $60 million to date and is looking to expand into Mexico, Peru and Colombia while strengthening its operations in Argentina and Brazil.
3. Calvi
Karvi was founded in 2017 and currently has around 70 employees. Headquartered in Buenos Aires, Karvi is a digital platform that connects car buyers with dealers, making it easier for people to buy a car by cutting out the middleman.
Presence: Partnerships with 150 dealers in Argentina and over 1,000 in Brazil have significantly increased Karvi’s market reach and influence.
4. Sprout HR
Sprout HR is an innovative talent management technology startup that provides cutting edge HR solutions to make talent management easy. The company has created recruiting tools, employee engagement software, and other insights to help businesses manage their workforce efficiently.
5. Henry
The idea behind Henley’s online education platform is to provide equal access to technology-related careers. Founded just a few years ago in 2020, the company now has around 110 employees. Students only pay if they get a job teaching through this model curated by the platform. This makes learning technical subjects easier and means there are no conflicts between schools and those who study there over personal issues like money or grades.
6. Osana Salud
Osana is a healthcare startup aiming to improve the accessibility of medical services. Headquartered in Buenos Aires, Osana Salud leverages technology to provide comprehensive healthcare solutions that are affordable and efficient, improving the overall health experience of its users.
7. Workana
Introducing Workana, a dynamic site that connects freelancers with companies for a variety of projects. It is an open marketplace where companies can find specialized freelancers to handle issues like web development and graphic design, making project timelines flexible and productive.
8. VU Security
VU Security is a leading cyber security company providing first class protection for businesses against internet criminals, offering a wide range of products including identity authentication, fraud prevention and access control management to provide the highest level of protection for its customers.
9. Test Gorilla
Test Gorilla is a platform that streamlines the hiring process through pre-employment testing. Through numerous assessments, Test Gorilla helps employers quickly identify the best candidates and make evidence-based hiring choices.
10. Boost Live
Boostribe, on the other hand, aims to make teams more productive and cohesive through collaboration. These tools aid in communication during projects, allowing organizations to collaborate effectively and manage well, saving more time than ever before to achieve organizational goals.
Buenos Aires continues to be a vibrant center of innovation and entrepreneurship, and the selection of this startup is exemplary of how this vibrant city is pushing the boundaries across various industries, contributing to an ever-expanding and fascinating ecosystem.
