Brazilian startups have raised a record $9.43 billion in funding rounds in 2021, more than doubling the figure seen in the previous year, said a report published by innovation platform Distrito on Wednesday.

The country’s fintechs raised the highest volume of investments in 2021, reaching $3.7 billion, followed by retail startups, which got $1.3 billion in funding.

During the year, 10 Brazilian companies got the unicorn status, reaching a valuation of more than $1 billion. Brazil now has 21 companies with that status, according to the report.

Read more/Source: Reuters