Peru Startup Ecosystem in 2025: A Year of Resilience and Transformation

Posted On 02 February, 2025

Peru, known for its rich cultural heritage and biodiversity, has been quietly but steadily evolving into a vibrant startup hub in Latin America. With its growing digital economy, a burgeoning entrepreneurial spirit, and government-backed initiatives, Peru’s startup ecosystem has become a critical player in addressing local and regional challenges. The year 2024 was transformative for Peru, marked by record-breaking investments, advancements in fintech, agritech, healthtech, and e-commerce, and a stronger presence in international markets. As we move into 2025, Peru’s startup ecosystem showcases resilience, adaptability, and a commitment to driving sustainable growth and innovation.

Record-Breaking Funding in 2024

Peruvian startups raised $850 million in 2024, a 55% increase compared to the previous year. Lima, the capital, remained the hub of innovation, but secondary cities like Arequipa, Trujillo, and Cusco began making their mark, particularly in agritech, green tech, and tourism tech sectors.

The surge in funding was driven by fintech, agritech, healthtech, and e-commerce, with early-stage investments growing by 60%. Notable funding rounds included $200 million for a fintech startup addressing financial inclusion, $150 million for an agritech company leveraging AI for sustainable farming, and $120 million for an e-commerce logistics platform.

Government programs like Startup Peru, the Innovate Peru Initiative, and international collaborations through the Pacific Alliance have played a pivotal role in fostering the ecosystem’s growth.

Fintech: Catalyzing Financial Inclusion

Fintech has become the backbone of Peru’s startup ecosystem, raising $300 million in 2024. With over 50% of the population underbanked, fintech startups are addressing significant gaps in financial services, offering innovative solutions for digital payments, credit access, and financial literacy.

Key players like Kambista, a currency exchange platform, and Culqi, a payments gateway, continued to expand their reach. Emerging startups like FintechLab, focusing on SME lending, and Finka, an AI-driven financial planning platform, gained traction. The government’s support through the National Financial Inclusion Strategy and partnerships with the Central Reserve Bank of Peru have created a favorable regulatory environment for growth.

Agritech: Empowering Sustainable Agriculture

Agritech startups raised $250 million in 2024, leveraging AI, IoT, and blockchain to address challenges in food security, sustainable farming, and export supply chains. Agriculture remains a cornerstone of Peru’s economy, making agritech innovation a key driver of growth.

Notable startups like Agros, which connects farmers to markets through digital platforms, and Nanovida, focusing on nanotechnology for crop health, are transforming the sector. Emerging companies like Cultivando Futuro, providing data-driven solutions for crop optimization, and BioAndes, specializing in organic fertilizers, are addressing critical needs. Government programs under the National Agricultural Innovation System (SNIA) and collaborations with international agritech accelerators have bolstered the sector.

Healthtech: Bridging Gaps in Healthcare Access

Healthtech startups in Peru raised $200 million in 2024, focusing on telemedicine, digital health platforms, and AI-driven diagnostics. Peru’s vast geography and disparities in healthcare access make healthtech a crucial sector for innovation.

Startups like Smart Doctor, a telemedicine platform, and Salud en Casa, providing at-home healthcare services, are addressing access issues. Companies like Auna Digital, focusing on digital health records, and Medix, specializing in AI-powered diagnostics, are gaining international attention. Investments under the Universal Health Insurance Law and government support for telemedicine have accelerated the adoption of digital health solutions.

E-Commerce and Logistics: Scaling Local and Regional Markets

E-commerce and logistics startups in Peru raised $150 million in 2024, driven by the growing demand for online shopping and improvements in delivery infrastructure.

Companies like PlazaVea Online, an e-commerce giant, and Chazki, a last-mile delivery service, continued to dominate the market. Emerging startups like Rappi Peru, focusing on food and grocery delivery, and Urbaner, a logistics solutions provider, addressed supply chain inefficiencies. The government’s investment in digital infrastructure under the National Broadband Plan has enabled these startups to scale rapidly.

Green Tech: Advancing Sustainability Goals

Green tech startups raised $150 million in 2024, focusing on renewable energy, waste management, and sustainable urban development. With its vast natural resources and vulnerability to climate change, Peru has prioritized green innovation.

Key players like Energreen, specializing in solar and wind energy projects, and EcoCiclo, focusing on sustainable waste management, are leading the charge. Emerging companies like Andes Solar, which develops microgrid solutions for rural areas, and Biodiversa, a platform promoting sustainable forestry, are gaining traction. Government initiatives under the National Climate Change Strategy have supported innovation in this sector.

Tourism Tech: Revitalizing a Key Industry

As one of the most popular tourist destinations in Latin America, Peru saw tourism tech startups raise $100 million in 2024. With the recovery of global travel, startups are leveraging technology to enhance tourist experiences and promote sustainable tourism.

Notable players like Exploor Peru, a digital platform for guided tours, and LlamaTrip, focusing on personalized travel planning, are redefining the industry. Startups like EcoTour Andino, promoting eco-tourism, and Qhatu, integrating local artisans into the tourism economy, are gaining recognition. Investments under the National Tourism Development Plan 2025 have supported smart tourism initiatives.

Digital Infrastructure and Smart Cities

Peru made significant advancements in digital infrastructure in 2024, including expanded broadband access to underserved regions and the rollout of 5G networks. These developments have enabled startups to innovate in IoT, cloud computing, and smart city solutions.

Lima and Arequipa are implementing smart city initiatives focusing on sustainable urban planning, AI-driven traffic management, and digital public services. Programs like Smart Peru 2025 and investments in cybersecurity have strengthened the country’s position as a tech leader in the region.

Global Collaborations and Market Expansion

Peruvian startups increasingly entered international markets in 2024, with over 75 companies establishing a presence in North America, Europe, and Asia. Initiatives like Startup Peru’s Global Expansion Program and partnerships with international accelerators such as Techstars and Plug and Play have facilitated cross-border collaborations.

Peru’s growing reputation for innovation and its skilled workforce have made it an attractive destination for international investors and a launchpad for startups seeking regional expansion.

Mergers and Acquisitions (M&A): Strengthening the Ecosystem

M&A activity in Peru reached new heights in 2024, with 15 deals valued at $200 million. Startups in fintech, agritech, and healthtech were the primary targets for acquisitions by global corporations seeking innovative solutions.

A notable deal included the acquisition of a Peruvian healthtech platform by a multinational telemedicine giant, highlighting the ecosystem’s maturity and global relevance.

Employment and Talent Development

Peruvian startups created over 15,000 new jobs in 2024, with strong demand for professionals in fintech, AI, and healthtech. Collaborations between startups and universities, as well as government programs like the National STEM Initiative, have ensured a steady pipeline of skilled talent.

Investments in digital education and upskilling initiatives have empowered local professionals and attracted international talent to the ecosystem.

Challenges and Opportunities

Despite its growth, Peru’s startup ecosystem faces challenges such as regulatory complexities, limited late-stage funding, and infrastructure gaps in rural areas. However, opportunities lie in leveraging its strategic location, rich natural resources, and growing global partnerships. Emerging sectors like renewable energy, healthtech, and agritech are poised to drive the next wave of growth.

The government’s commitment to fostering innovation, sustainability, and global outreach will be critical in addressing these challenges and sustaining momentum in 2025.

Looking Ahead to 2025

As Peru’s startup ecosystem advances into 2025, it is poised for continued growth and global recognition. Key focus areas include scaling fintech and healthtech solutions, advancing green tech technologies, and fostering deeper international collaborations.

With its strong commitment to digital transformation, sustainability, and entrepreneurship, Peru is well-positioned to lead Latin America’s innovation economy and make a lasting global impact.

The Peruvian startup ecosystem in 2025 exemplifies resilience, creativity, and transformation. By leveraging its strengths in technology, sustainability, and international collaboration, Peru is shaping its future as a leader in the global innovation landscape. Startups in the country are not only addressing local challenges but are also paving the way for a sustainable and prosperous future for Latin America and beyond.