Finnovista has pursued its efforts to map and monitor the Fintech industry in Latin America by exploring in detail the Brazilian market after performing similar research studies for Argentina, Chile, Colombia and Mexico. As a result, Finnovista generated its first Fintech Radar for Brazil.

Our most recent findings show that at least 219 Fintech startups exist in Brazil which are disrupting the Financial Industry sector across 16 different segments. This figure makes Brazil the largest Fintech ecosystem in Latin America, followed by Mexico with 158 startups, Colombia with 77, Argentina with 60, and Chile with 56. Such a dynamic market in Brazil means greater opportunities for both banked and unbanked customers to get access to more and better financial products, and also a serious window for traditional financial institutions to take advantage of the innovation existing within the Fintech ecosystem.