Fintech

• Between 2017 and 2023, LAC’s fintech ecosystem recorded 340% growth.
• Brazil, Mexico and Colombia account for 57% of total companies.
• Fintechs strengthen their position in the payments segment.

Bogotá, Colombia.- The fintech ecosystem registered growth of more than 340% in the number of technological finance startups created in the last six years, going from 703 companies in 18 countries in 2017, to 3,069 in 26 countries in 2023, according to the fourth report of the Fintech in Latin America and the Caribbean series (available in Spanish). The joint study by the Inter-American Development Bank (IDB) and Finnovista was presented during the fifth annual meeting of FintechLAC, being held in Bogotá, Colombia, with support from the Grand Duchy of Luxembourg.