The Fintech industry in Colombia is writing a new chapter in its evolution, reaching 394 local startups in the first quarter of 2024, with 5.8% growth, according to the Finnovista Fintech Radar Colombia 2024 published by Finnosummit.
In today’s regional context, the maturity of the ecosystem is no longer measured solely by the number of startups, but by their real impact, scalability, and integration with the broader financial system. Colombia is emerging as a strategic player in the Latin American market thanks to its focus on Open Finance, renewed investment activity, and regulatory advancements.
Colombia’s Fintech ecosystem grew by 5.8% in 2024. While this figure may seem modest compared to the explosive growth of previous years, it actually reflects an ecosystem in the process of maturing. In Colombia—just as in other ecosystems like Mexico—the focus has shifted from scale to value creation, financial sustainability, and technological integration.
This shift is complemented by a key trend: 30% of the Fintechs operating in Colombia are foreign, a clear signal that the country offers attractive conditions for investment, proof of concept, and regional expansion.
Regulatory Momentum and Open Finance
One of the main drivers of this evolution has been the country’s regulatory progress. The Financial Superintendence of Colombia has pioneered the development of an Open Finance framework, positioning the country among the most advanced in Latin America—alongside Chile and Brazil.
Standardized APIs, a regulatory sandbox, and the promotion of collaborative agreements between banks and Fintechs have created a more competitive and inclusive environment in Colombia.
This regulatory foundation enables new technological solutions to reach users who have historically been excluded from the financial system. It’s no longer just about digitizing existing products, but about designing user-centered services from the ground up. This is where Colombia can become a regional benchmark for financial inclusion through innovation.
Investment, Growth, and Success Stories
Despite a challenging global investment climate in 2023, 2024 brought a strong rebound for Colombian Fintechs. Startups such as Addi ($86M), Simetrik ($55M), and Bold ($50M) led major funding rounds—not only due to their strong traction, but also their potential to expand access to financial services in a fast, secure, and transparent way.
What’s Next for Colombia’s Fintech Ecosystem in 2025?
The outlook for Colombia’s Fintech sector in 2025 is dynamic and full of potential, fueled by more than just stronger regulations and returning investment flows. Participating in the Finnovista Fintech Radar Colombia 2025—to be launched by Finnosummit in the coming months—is a key opportunity for Fintechs operating in the country to gain visibility and help shape the future of Colombia’s financial innovation ecosystem.
Foreign Fintechs active in Colombia are also welcome to contribute to the region’s most comprehensive ecosystem mapping.
This is your chance to be featured on the innovation map most consulted by investors, the media, and corporations looking to identify key players in Colombia’s financial transformation.
Whether you’re revolutionizing payments and remittances, democratizing access to credit through digital lending, empowering users with smart wealth management, delivering disruptive solutions to financial institutions, or driving financial education, your voice matters. All Fintech verticals are critical to building a more inclusive, efficient, and competitive financial system.
🗓️ Deadline: April 22, 2025
