
In Latin America, buying a used car, renting an apartment, or opening a bank account is a real nightmare. It's all about paperwork, apathetic officials and legal risks.
With start-ups enabling people to avoid these problems, the region is emerging as a leader in technological growth in emerging markets. According to the International Private Equity Association, last year it was flooded with venture capital: the volume of funds raised by local companies amounted to $4.1 billion and exceeded the amount of investments in Southeast Asia ($3.3 billion), as well as in Africa, the Middle East , Central and Eastern Europe combined.
In the first half of 2021, Latin America raised $6.5 billion in venture capital, just short of the $8.3 billion that Indian companies raised.