Why Fintech are the big drivers of the StartUp ecosystem in Latin America
Latin American financial technology companies are driving the growth of StartUps in the region.
Latin America and fintech… what’s the deal?
Latin America remains a growth market for Fintech, with US $ 481 million raised in 23 agreements in the second quarter of 2019, surpassing China and India in the amount collected and China in number of agreements for the first time.
Of the six best VC-backed technology companies in Latin America that have raised at least US $ 1 million of capital funds since 2014, all are Fintech companies, which shows the vertical influence on business growth in the region.
About Creditas and Checkout.com
Creditas (Brazil), led by entrepreneur Sergio Furio, was presented as one of the 10 best deals of the quarter with its US $ 231 million received from Softbank in July.
Checkout.com (United Arab Emirates), led by Guillaume Pousaz, also secured a spot with its US $ 230 million Series A round, and stood out as one of the seven Fintech unicorns recently minted worldwide.
Creditas and Checkout.com, which have also received investments from Endeavor Catalyst, were the only non-US companies that closed the largest businesses in the quarter.
Four of these leading companies are led by Endeavor entrepreneurs
Together, Clip (Mexico), Compare Online (Chile), Technisys (Argentina) and Bankingly (Uruguay), have raised a total of almost US $ 255 million, and each of these companies has also received investments from Endeavor Catalyst.
Ualá from Argentina, founded by Pierpaolo Barbieri, was also featured with a full-page feature as one of the first digital “challenger bank”, which is the largest cohort of the fastest growing new financial technology companies.
Originally published at TheStartupFounder.com.