Mexico, hub of fintech startups in Latin America

In Mexican territory there are additional than 150 fintech startups, which are targeted on the crowdfunding segment, fiscal instruction, small business finance, between other folks.

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This posting was translated from our Spanish edition utilizing AI technologies. Mistakes may possibly exist due to this system.

Mexico has positioned by itself as the new hub for fintech startups in Latin The usa, even surpassing international locations this kind of as Brazil, Colombia and Chile, in accordance to the 2nd version of the Fintech Radar well prepared by Finnovista .

The examination reveals that in Mexican territory there are 158 fintech companies , Brazil is in the next situation with 130, in third location Colombia with 77, while in Chile there are 56 startups in this section.

As opposed to the first version of the Fintech Radar , this calendar year Mexico registered an increase of 24% in the selection of providers.

The most notable will increase by phase have happened in crowdfunding financial education and learning and price savings payments and remittances, and eventually in enterprise finance administration.

“The 158 fintech startups recognized in this next Fintech Radar Mexico are changing the regulations of the activity in all segments of the money expert services sector,” the report mentioned.

In this feeling, he stated that the 158 current startups are competing to seize up to 30% of the Mexican banking marketplace in the future 10 years, which is valued at much more than 30,000 million pounds .

The 158 businesses of the Fintech Radar Mexico are divided by area as follows:

(Simply click on the graphic to enlarge it)

Fintech Law

For various months now, the Countrywide Banking and Securities Commission (CNBV), for instance, has recognized that Fintech companies could enable fix challenges that have embraced the country for quite a few many years, this kind of as fiscal inclusion.

Even so, with the modify of operator in the Ministry of Finance and Public Credit score (SHCP), the advertising and launch of the Fintech Law has been postponed for a couple of weeks.

In this regard, Gerardo Obregón , founder of Prestadero , expressed in a assertion that when this initiative is authorised, Mexico will develop into the initial state in the American continent to have a particular regulation to control monetary crowdfunding.

“If we want to make improvements to the predicament in the place, one of the core details is to maximize selection, and make Mexico the new fintech hub. With no a doubt, this is a very good initiative to realize it.”

Do you know any Mexican fintech startup that is not incorporated? Convey to us on our social networks which a person you would include to the list.