The most innovative companies in Latin America for 2024
Why Nubank, Alice, Farmacias Similares, and LATAM Airlines are among Fast Company’s Most Innovative Companies in Latin America for 2024.
In 2024, Latin American companies have continued to develop comprehensive solutions for the region’s specific challenges while creating impactful tools that resonate worldwide.
Health remains a top priority, given the under-resourced healthcare systems. Brazilian digital insurance company Alice has tackled high cesarean birth rates, the second-highest globally, by creating patient-oriented solutions. Their efforts have improved vaginal birth rates from 20% to 70%, aligning more closely with the World Health Organization (WHO) recommendations.
In Chile, where only 20% of the population has access to private healthcare, Examedi has introduced digital, in-person, and hybrid services at a fraction of the price. This offers an alternative to the overwhelmed public healthcare system and enhances patient care.
Farmacias Similares has shown that healthcare can be both entertaining and accessible. After its mascot Dr. Simi gained worldwide popularity, the company tripled its demand, expanding efforts to employ and cater to people with disabilities.
Financial solutions were also a priority. Brazilian fintech Nubank has been recognized for developing new security measures based on users’ needs and suggestions for the second year. Unico developed an identification tool to eliminate the 50% rate of rejected credit-card transactions, helping businesses recover more than $400 million in purchases that would have otherwise been rejected.
Latin American companies experienced robust growth, with Mexican convenience store Oxxo seeing expanded revenue. Their financial solutions led to a 105% growth in users for their financial product, Spin. Laborit’s B2B software has fueled digital development for major companies, driving more than $600 million in revenue for banking institution Santander.
In the Amazon rainforest, Brazil-based solar investment platform Solfácil has brought solar power to more than 60,000 customers. Meanwhile, Colombian unicorn Habi, the largest buyer and seller of used housing in Mexico and Colombia, integrated notary services into their platform, reducing transaction times by 15% and tripling the company’s size. Additionally, LATAM Airlines opened the doors of Latin America to the United States with a partnership with Delta Airlines, marking the first profit-sharing agreement between U.S. and Latin American carriers.
For transforming bank security into a covetable set of features
For birthing a better way to ensure healthy pregnancies
For putting a face to digital credit-card transactions to boost sales and eliminate fraud
For bringing digital convenience to the convenience store
For connecting Latin America to American hubs
For making its drugstores more accessible—and fun
For fast-tracking healthcare access in Chile
For transforming Brazilian industry with software
For propelling solar power across Brazil
For simplifying buying and selling a home
Explore the full 2024 list of Fast Company’s Most Innovative Companies, 606 organizations that are reshaping industries and culture. We’ve selected the firms making the biggest impact across 58 categories, including advertising, artificial intelligence, design, sustainability, and more.
