Major international funds are investing in Mexican Fintech

Mexico

's fast-growing financial technology sector ( fintech ) is being supported by foreign funds and banks that bet on new developments and consider Mexican Fintech a remarkable market to invest.

"Mexican, European, and American investment funds are betting on Mexican fintech while traditional financial entities such as banks are supporting the sector as well," said Eduardo Morelos , Program Director at Startupbootcamp FinTech Mexico .

Fintech has become one of the most attractive markets to invest in, thus private capital funds consider fintech to be one of the markets with the most potential in the medium term.

According to María Ariza , CEO of the Mexican Association of Private Equity and Venture Capital Funds ( Asociación Mexicana de Fondos de Capital Privado abbreviated AMEXCAP ), USD$ 215 million have been invested in the development of fintech in Mexico with a stock exchange available up to USD$ 300 million in the last seven years.

"American Express Ventures, Gentera, and FEMSA have invested," she said.

In the latest edition of Finnovista’s Fintech Radar Mexico , a total of 238 Mexican Fintech startups have been identified, positioning Mexico as the single largest Fintech market in Latin America, clearly surpassing other leading markets in the region such as Brazil where 230 startups have been developed.

Fintech developers in Mexico trust that legislation for the sector, currently under analysis, will provide certainty for its development.

Financial technology (fintech) is the new technology and innovation that aims to compete with traditional financial methods in the delivery of financial services through the use of smartphones for mobile banking and investing services which seek to make financial services more accessible to the general public.

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