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Radares

Mexico’s Fintech ecosystem experienced an impressive 18.4% compounded growth from 2019 to 2023, reaching 773 startups

16 February 2024

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Fintech Radar Mexico

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  • Mexico’s Fintech ecosystem experienced an impressive 18.4% compounded growth from 2019 to 2023, reaching 773 startups

In this eighth edition, Finnovista has identified 234 new startups originating from Mexico, along with 217 foreign companies now operating within the country, bringing the total to nearly a thousand solutions.

Of particular note is that 44.6% of the products and services offered by Fintech cater to segments of underbanked or unbanked individuals and businesses.

Furthermore, around 14% of Fintech firms currently provide savings products, with an average rate of 12.9%, and in some cases, reaching as high as 17%.

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