- Crowdfunding has emerged as a powerful financing tool in Mexico and other Latin American countries, reshaping how entrepreneurs, creatives, and organizations access funds to bring their projects to life.
Recent data reveals that 36% of Mexicans turn to crowdfunding as an alternative to consolidate debts, taking advantage of more accessible interest rates to avoid damage to their credit history.
Promoters of Crowdfunding in Mexico and Latin America
Crowdfunding platforms have not only catalyzed innovation, entrepreneurship, and creativity but have also become a crucial resource for addressing debts intelligently. An example is Prestadero, a firm regulated by Fintech law, which experienced a 109% growth in loan approval during the third quarter of 2023.
Crowdfunding in Mexico
Crowdfunding is not limited to debt consolidation; it also spans other areas. According to Prestadero, 19.3% of applicants use it to support their businesses, while 15.4% allocate funds to home remodeling projects or furniture acquisition.
Furthermore, 13.7% of clients seek crowdfunding financing for health issues or organizing events, another 7% take advantage of lower rates to buy a car, and 1.8% use credit for a vacation.
Other Crowdfunding Areas
M2Crowd stands out as a leader in real estate crowdfunding, allowing investors to participate in high-quality real estate projects. On the other hand, Donadora promotes creativity and social projects, as demonstrated by the success of an independently funded short film through its platform.
Crowdfunding Investment Platforms in Latin America have become a popular option for investors interested in diversifying their portfolios with projects from the entire region.
Chile, Brazil, Colombia, and Argentina have also seen notable growth in the use of crowdfunding platforms. From technology projects in Argentina to solar energy initiatives in Chile, these platforms have provided funding opportunities for a wide range of innovative initiatives.
While not native to the region, Kickstarter has proven to be a leading platform used by Latin American projects. The Online Collective Financing platform in Mexico stands out for its focus on social and impact crowdfunding. A project to provide access to clean water in rural communities successfully raised funds on this platform.
Crowdfunding has not only transformed the financial landscape in Latin America but also globally. From social initiatives to large real estate projects, crowdfunding platforms have proven to be key players in obtaining financing for diverse projects.
Crowdfunding continues to evolve, offering options in Spanish and reaching global audiences. With platforms like M2Crowd, Donadora, Snowball Crowdfunding, and others, crowdfunding continues to play a crucial role in transforming the business and creative landscape of Mexico and Latin America. As a financing tool, its future promises greater integration, innovation, and contribution to building a more inclusive financial world.