Who’s building Latin America’s next unicorn?
And why Chile might be your smartest hiring move this year
Hey there,
I couldn’t be happier as I write this.
We just wrapped our strongest quarter ever at Lupa. I spent the Fourth of July back home in the US with friends and family. The Gallagher brothers reformed.
And, over the weekend, I played my favorite golf tournament.
Two days. Four-man teams. Brutal heat. Out of 23 teams, ours came out on top.
I was the captain, which meant hitting my own shots but also reading greens for my teammates, calculating yardages, and keeping the group steady when things got tough.
(For the non-golfers: sometimes you’re the one making the winning shot. Other times, you’re helping teammates stay focused and figure out the next move. Either way, you win as a team.)
It’s a lot like being a founder.
People ask me how we’ve grown at this rate. My answer is simple: my Latin American team.
They’re some of the most driven, creative, and resilient people I’ve ever worked with. They solve problems without waiting for permission. They care about the details. And they show up every day, even when things get messy.
If you’re building something ambitious, don’t overlook this region. I’d bet on these operators any day.
Anyway, golf and emotional words are over. Back to the news.
Let’s get into it.
🌐 News Shortlist
1. Klar raises $190M to build “the bank Mexico never had”
Recap: Mexican fintech Klar closed a $190M Series C, led by General Atlantic, pushing its valuation past $800M. CEO Stefan Moller says they’re not just digitizing banking, they’re rethinking how people relate to money. An IPO could follow in 2026.
I listened to Stefan on the Startupeable podcast. Two things stuck with me.
First, Klar didn’t jump into a wide-open market.
By the time they launched, there were already 40+ fintechs handing out flashy cards.
But Stefan, who’s not a banker, understood that in Mexico, access to credit and fair banking isn’t a convenience, it’s a privilege most people never had.
Second, Klar’s strategy isn’t chasing trends. They built a tech stack that can run 10-20 times more efficiently than traditional banks, then focused relentlessly on execution.
That’s why they’ve stayed relevant while so many peers disappeared or pivoted for the hundredth time.
They’re not just digitizing banking. They’re rethinking how people relate to money.
And now they’re going multi-product, multi-segment, proving that focus and discipline are what actually scale in Latin America.
Advice:
If you’re building in fintech, remember: slick branding and big valuations will only take you so far.
The real moat is knowing your local customer and delivering the product they actually need, not just the one investors want to hear about.
2. Mercado Libre becomes a Time100 company, plans 25% workforce growth
Recap: Mercado Libre just landed on Time’s list of the 100 Most Influential Companies worldwide and it’s the only Latin American firm to make the cut. They’re not slowing down: the company plans to grow its headcount by 25% this year, adding around 28,000 people and taking its team past 112,000.
Mercado Libre isn’t just another unicorn. It’s a $100B company that survived political chaos, currency crashes, and 20+ years of a market many thought impossible.
Marcos Galperin built it from scratch in Argentina. He didn’t have YC. Or a flood of Silicon Valley cash. Just a belief that Latin America could build something world-class.
And now the baton is passing to Ariel Szarfsztejn, a guy who started as an HR analyst. In eight years at “MELI”, he climbed from strategy to logistics to commerce… and now the entire business. How? Executing.
This is why Mercado Libre is special. It’s proof that world-class tech and leadership exist here. That talent here doesn’t just “save costs.” It builds giants.
And now, they’re hiring ~30,000 more people.
That’s not just expansion. That’s a signal to every founder and investor that LatAm is still one of the world’s biggest growth stories.
Advice:
Don’t dismiss Latin America as cheap talent.
The people who built Mercado Libre can help you build your business too.
If you want to win here, study how they operate and hire people who know how to handle chaos and still ship.
3. Chile’s unemployment hits 8.9%, the highest in 18 months
Recap: Chile’s jobless rate rose to 8.9% between March and May, marking its worst level since late 2023. The labor force grew nearly four times faster than new jobs were created. While industries like mining and financial services posted gains, the surge in people actively searching for work, especially first-time job seekers, pushed overall unemployment up.
For decades, Chile was seen as Latin America’s most reliable economy: stable currency, strong infrastructure, and a magnet for tech investment.
Big global players like IBM and Google set up shop there early, helping Chile build a deep bench of skilled professionals.
But in recent years, the story has shifted. President Gabriel Boric’s election sparked ambitious plans to reform pensions and forgive student debt, but those promises collided with tight budgets and a wary business sector.
Investment cooled. Growth slowed. And hiring stalled.
Today, many local companies are fighting to hold onto talent. As uncertainty drags on, more Chilean professionals are exploring international roles that offer steadier pay and stronger currencies.
Why should this matter to you?
Because Chile still has some of the best-prepared talent in Latin America.
Professionals here often have excellent English, international experience, and a reputation for precision and reliability.
And while salaries used to be higher than the regional average, economic pressures are closing that gap.
Advice:
If you’re looking to hire in LatAm, Chile deserves a second look.
You’ll find candidates who’ve thrived in demanding environments and bring serious expertise to the table.
It might not be the cheapest option, but if you value skill and maturity, it’s a market worth exploring right now.
🔎 Remote Jobs Shortlist
These are the hot new openings of this week.
Even if you’re not on the hunt, it’s worth seeing what roles great companies are opening and what that says about where things are headed. Check out the full list here.
1. Marketing Director
This brand is leveling up its marketing game. Now they’re hiring a hands-on leader who can build the function from scratch.
You’ll be the first marketing hire, architecting strategy and rolling up your sleeves to execute across every channel. Think SEO, paid ads, social, email, content, website optimization, and more. Once the foundation is solid, you’ll grow and lead your own team.
Ideal fit: 8+ years in marketing, with at least 3 in leadership roles at retail, e-commerce, or consumer goods companies. You know how to run the whole stack, analyze results, and drive revenue.
This is a role for a builder, someone ready to turn a blank slate into a marketing machine.
💵 $3,500 - $4,500 USD
📍LatAm Remote
2. Social Media Manager
This team is building the next generation of toys, content, and kids’ entertainment, and they need someone who can make it all shine online.
They’re looking for a creative Social Media Manager to run the show across TikTok, Instagram, YouTube, and beyond. You’ll own strategy, storytelling, and short-form video creation for bold original IPs and big licensed brands.
This isn’t just posting and praying. You’ll craft social-first content, run paid campaigns, spot trends before they break, and work side-by-side with marketing, creative, and licensing teams to build campaigns that actually connect with kids and families.
Ideal for: Someone who knows how to script, shoot, and edit killer short-form videos, lives and breathes pop culture, and can back up their creative instincts with data. Bonus points if you’ve worked with kids’ brands, toys, or entertainment IPs.
💵 $2,500 - $3,000 USD
📍Mexico City
3. Junior Fullstack Engineer
One of the fastest-growing AI startups we’ve seen is on a mission to help women turn hormonal health into a source of power instead of a struggle.
They’re looking for a Junior Fullstack Engineer who’s hungry to learn fast, ship real features, and grow under strong mentorship. You’ll be building new functionality alongside senior devs and designers, working across the full stack in Ruby on Rails, JavaScript, Tailwind, Hotwire, and ideally bringing some Swift UI chops for mobile.
This is B2C work with real users and meaningful problems to solve.
Perfect for someone early in their career who’s curious, collaborative, and excited about product. Bonus if you’re the kind of dev who loves reverse-engineering apps just to see how they tick.
💵$2,000 - $2,500 USD
📍LatAm Remote
That’s it for this week.
If anything here caught your interest, feel free to reach out. I always like talking to new people, even if it takes me a bit to reply.
And if you’re thinking about hiring in Latin America, or just want to talk business or golf, I’m always here.
Until next time,
Joseph Burns
CEO & Founder, Lupa