Emerging Market Disruptors

Digital companies from fast-growing economies outside the US, Europe, and China that reshaped an industry in their own market before expanding. Home-market strength comes first here, global scale second.

7 reports

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MercadoLibreMELI

Latin America's integrated e-commerce, payments, lending, logistics, and wallet ecosystem.

Market cap: $97B
Revenue CAGR proj.: 32%
Operating margin: 11%
Growth-adj. P/E proj.: 0.8

Nasdaq · United States

Kaspi.kzKSPI

Kazakhstan's super-app for payments, shopping, and banking.

Market cap: $18B
Revenue CAGR proj.: 21%
Operating margin: 55%
Growth-adj. P/E proj.: 0.4

Nasdaq · Kazakhstan

StoneCoSTNE

A Brazilian payments and banking fintech for small and midsized merchants.

Market cap: $2.4B
Revenue CAGR proj.: 5.3%
Operating margin: 46%
Growth-adj. P/E proj.: 0.6

Nasdaq · Brazil

NuNU

A digital bank serving Latin American consumers.

Market cap: $73B
Revenue CAGR proj.: 71%
Operating margin: 55%
Growth-adj. P/E proj.: 0.3

Nyse · Brazil

GrabGRAB

Southeast Asia's superapp for rides, delivery, and fintech.

Market cap: $12B
Revenue CAGR proj.: 22%
Operating margin: 2.4%
Growth-adj. P/E proj.: 0.4

Nasdaq · United States

SeaSE

A Southeast Asian internet group spanning e-commerce, gaming, and digital finance.

Market cap: $66B
Revenue CAGR proj.: 24%
Operating margin: 8.7%
Growth-adj. P/E proj.: 0.7

Nyse · United States

dLocalDLO

One API letting global merchants accept and pay out money across emerging markets.

Market cap: $4.4B
Revenue CAGR proj.: 30%
Operating margin: 20%
Growth-adj. P/E proj.: 0.5

Nasdaq · Uruguay