With a 46% growth since the last publication of Fintech Radar in May 2019, the Insurtech segment stands out from the rest, which allows us to see that 2020 may finally be the year of the “boom” of Insurtech startups in Mexico.
In the review of the undisputed growth of the Fintech sector in Mexico, it is important to mention the mortality rate. From the last update of Fintech Radar Mexico in May 2019, only 4.5% of enterprises ceased operations, representing the closing for only 18 companies.
We found that 70% of the sector’s ventures have their main operations in Mexico City, consolidating the capital as the most dynamic Fintech hub in the country and one of the most relevant in Latin America.