Top FinTech Startups In Latin America

Globally, the fintech (financial tech) industry is projected to be worth $394.88 billion in 2025 according to Fortune Business Insights.

Over the last decade, fintech has grown from a niche sector into a huge player in the startup and business world. Fintechs have completely redefined industries, from online banking to foreign exchange and payment tracking.

When it comes to global markets, Latin America is one of the most dynamic. This cluster of countries has a fintech market valued at over $13 billion, with a growth rate of 15.9% according to IMRC.

 

What Are Some Of The Most Popular FinTech Sub-Sectors in Latin America?

 

The most popular fintech subsectors in Latin America include:

• Online payments and digital banking.
• Foreign exchange.
• Alternative finance for those in rural areas that are unable to access traditional banking.
• B2B tools for growing companies.

 

 

Which Countries in Latin America Have the Most FinTechs?

 

According to IDB, the countries in Latin America with the most fintech companies are:

Brazil: 24% of all fintech startups in the region

Mexico: 20%

Colombia: 13%

Argentina: 10%

Chile: 10%

These five countries account for 77% of all fintech companies in Latin America and the Caribbean, with Brazil, Mexico, and Colombia combined making up 57% of the total.

Other fast-growing fintech economies include Peru (5.3%), Ecuador (3%), and the Dominican Republic (2.1%).

But who are some of the companies leading the charge? Let’s find out..

 

Nubank (Brazil)

 

 

Nubank is one of the world’s biggest digital banks and a jewel in the LATAM fintech crown. Founded in Brazil, the company began as a credit card that users could manage through a mobile app.

From there, the company expanded to include loans, insurance and spend tracking, now servicing over 118 million customers across Brazil, Mexico, and Colombia.

 

Vortx (Brazil)

 

 

Vortx is a Brazilian fintech that provides technology for investment fund managers. Using AI and blockchain, Vortx helps to drive automation within businesses, helping them streamline operations.

Vortx has been a big player in Latin America’s investment fund space, helping to drive the financial industry in the region.

 

Clara (Mexico)

 

 

Clara is a Mexican startup that provides corporate credit cards and spend management software for Latin American businesses.

Launched in 2021, Clara is helping companies track their spending and make it more transparent. Through features like real-time analytics, expense reports and more, Clara now services hundreds of companies across Mexico, Brazil and Colombia.

 

Addi (Colombia)

 

 

Addi is a Buy Now Pay Later (BNPL) company that allows people to split their spends into smaller payments. This not only helps businesses increase their sales, but it also allows consumers to access more flexible credit options.

Operating in Colombia and Brazil, Addi is helping businesses drive growth, whilst giving consumers easier ways to spend.

 

Konfio (Mexico)

 

 

Konfio helps SMEs in Mexico access better financial payment solutions. From capital loans to business cards and payment terminals, the company helps SMEs access loans and track their finances in one place.

The company has been a key driver of growth for SMEs across Mexico by giving them access to loans and financing that they would not have been able to secure through mainstream Mexican banks.

 

Bitso (Mexico)

 

 

Bitso is one of Latin America’s biggest cryptocurrency platforms. Founded in Mexico, it allows users to buy, sell, and store digital currencies like Bitcoin and Ethereum, as well as trading them cross-border.

Bitso operates in Mexico, Brazil, Colombia, and Argentina, and has over 6 million users. It’s well known for being a reliable trading platform that operates under strict compliance guidelines.

 

Creditas (Brazil)

 

Creditas is a digital lender based in Brazil that allows people to take out loans and secure them against vehicles and properties.

Creditas has set out to reduce the cost of credit in Brazil, where interest rates are usually high, by offering a lower-risk alternative, backed by flexible collateral.

 

Uala (Argentina)

 

 

Ualá gives its users a digital prepaid card, that allows them to pay for items, track their spending and even send money abroad, all through their mobile.

Founded in 2017, Ualá is on a mission to improve financial inclusion across Latin America, where there is a huge unbanked population.