Nubank and Rappi were the only two Latin American companies named in TIME100’s Most Influential Companies of 2024.
Rappi, founded in 2015, made its first appearance on the TIME100 list. The super app was named in the leaders section beside category-defining companies like Pinterest and Reddit.
“This reminds us that Colombians can achieve anything when we focus on building and creating with a clear purpose. Over these 9 years, our journey has been filled with great joys but also immense challenges that have taught us that with a mix of humility, ambition, and hard work, we can create opportunities for millions,” said Simón Borrero, Co-founder and CEO of Rappi.
Nubank was featured for the third time since its founding in 2013, ranking in the titans section alongside Amazon and Microsoft. The neobank was previously mentioned as a titan in 2022 and as a leader in 2021, but was absent in the 2023 list.
“This recognition is a testament to the profound impact we are making in the lives of our over 100 million customers across Latin America. Since launching Nubank over a decade ago, our thesis was that technology companies could revolutionize the financial services industry by fostering competition, innovation, and efficiency to expand access and empower people to recover control over their money. Our ability to help customers save over $11B in fees in just one year exemplifies our commitment to this mission,” said David Vélez, Nubank’s Founder and CEO.
Despite being founded in Colombia and Brazil respectively, both Rappi and Nubank have Colombian CEOs, and both are backed by Sequoia Capital and DST Global.
Rappi is fresh off its first break-even year and has over 30 million users across 9 different countries and over 250 cities, while Nubank hit $1B in profit in 2023 and was the first neobank outside of Asia to amass over 100 million customers in 2024.
Read more on Nubank’s newsroom and Forbes Colombia.
