{"id":4432,"date":"2018-02-26T18:07:50","date_gmt":"2018-02-26T18:07:50","guid":{"rendered":"https:\/\/www.finnovista.com\/?p=20765&lang=en"},"modified":"2020-04-20T04:59:39","modified_gmt":"2020-04-20T04:59:39","slug":"fintechradarforeignstartupslatam2018","status":"publish","type":"post","link":"https:\/\/www.finnosummit.com\/en\/fintechradarforeignstartupslatam2018\/","title":{"rendered":"Latin America: Opportunity for International Fintech. Over 85 foreign Fintech companies active in the region."},"content":{"rendered":"

Mexico, Brazil and Colombia position themselves as the main Latin American destinations for foreign Fintech startups mainly from Europe and the United States. The segments of Payments and Remittances, Lending, Scoring, Identity and Fraud and Enterprise Technologies for Financial Institutions lead the offer of foreign Fintech in the region. <\/strong><\/h4>\n

In recent years Latin American Fintech entrepreneurship has grown at a rate of <\/span>50%<\/a><\/strong> and <\/span>60%<\/a><\/strong> and has drawn the attention of international <\/span>investors<\/a><\/strong> and <\/span>corporates<\/a><\/strong> through investment rounds in startups or strategic partnerships. But at Finnovista we ask ourselves, how appealing does the Latin American Fintech ecosystem result for foreign Fintech startups? <\/span><\/p>\n

Since 2016 Finnovista has conducted different Fintech Radars about the most representative Fintech ecosystems in the Latin American region in order to create a comprehensive data source of the Fintech enterprises, evaluate the sector\u2019s progress in the region, and give visibility and recognition to a movement that will lead the region towards an ubiquitous and inclusive digital finance landscape. So far, Finnovista has published over 15 studies about <\/span>Argentina<\/a>, Brazil<\/a>, Chile<\/a>, Colombia<\/a>, Ecuador<\/a>, M\u00e9xico<\/a>, Per\u00fa<\/a> \u00a0<\/strong>and Spain<\/a><\/strong>, as well as a regional study with the <\/span>IDB<\/a><\/strong>. <\/span><\/p>\n

On this occasion, Finnovista has conducted a study that, for the first time, aims to <\/span>identify foreign Fintech startups that are currently offering their services in Latin America, <\/b>in order to examine the most appealing regional markets for foreign companies and the reasons behind these trends, assess the evolution of new foreign companies entering the market in the following years and try to identify possible opportunities and obstacles in the region. <\/span><\/p>\n

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You can download the image HERE<\/a>, or if you prefer the printable version click HERE<\/a>.<\/p>\n

In this first version of the Fintech Radar Foreign Startups in Latam Finnovista identified 86 foreign Fintech startups active in Latin America. 65% of them come from Europe, mainly from the United Kingdom (38%), Spain (31%) and Germany (9%); while 31% of them come from the United States and Canada, mainly from California (30%) and Florida (19%); and only 4% of the 86 startups come from Asia, mainly from Singapore and Philippines. <\/span><\/p>\n

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If we take a look at the countries in which foreign Fintech startups are operating, we observe that the main destinations of these companies mostly coincide with the main Fintech markets in the region in terms of volume of Latin American startups. Precisely, the five markets with a greater presence of foreign Fintech startups are the following:<\/span><\/p>\n

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