Fintech companies are a rapidly growing sector both globally and in Latin America in particular. In 2021, Latin American startups received a record $13.5 billion in funding.
Mexico is now home to over 440 fintechs, including Nubank, Kavak, and Clip, which provide over 60,000 jobs. And Mexico City is becoming the fintech hub of Latin America, attracting countless established and startups.
The bulk of venture capital is heading to Brazil and Mexico. This is evident not only in the movement of the venture dollar, but also in the number of unicorns — startups with valuations above $1 billion.
Most of the capital comes from countries outside of Latin America. To gain access to the region, foreign funds usually invest in partnership with local ones. The industry offers a significant advantage — everyone can develop a business without fear of competition — and this ensures that investment is constantly increasing.