The rise and rise of Mexican fintech
Tuesday, August 2, 2016
Nothing tells the story of how the Mexican tech ecosystem is steaming ahead in Latin America quite like the rise of fintech.
The financial services space ticks all the right boxes entrepreneurs look for when launching a company: hard to solve problems, meaningful impact, transformational technologies, clear business models and a solid financing environment.
On the flip side, Mexico’s fintech industry has everything VCs daydream about: large untapped markets, highly scalable models, startups with solid traction, successful references around the world and multiple exit scenarios.
While ecosystem observers may have predicted this momentum, it’s worth taking a step back to analyze the forces driving Mexico’s fintech ascent in order to provide a framework for other industries and countries in the region.
Mexico seems to be the ideal market to launch a fintech startup in Latin America. First off, there are plenty of experienced founders bringing a wealth of unique knowledge on the business, product and technical side. They are unleashing innovation by leveraging the solid financial infrastructure private companies and government have created in the past two decades.