- It is estimated that fintechs in Latin America will serve 380 million users by 2025.
- Brazil, Mexico, Argentina, Colombia, and Chile led the fundraising efforts. What amounts have they received? What will they invest the capital in?
During 2024, the global fintech sector experienced a decline in investments, reaching a total of $95.6 billion, the lowest figure in seven years, as we reported recently. This decline largely reflects the economic and geopolitical challenges affecting the global financial market.
However, contrary to the global trend, Latin America showed remarkable dynamism in the fintech sector. The region’s ecosystem grew more than 340% over the last six years. According to projections published by Statista, it is estimated that fintechs in Latin America will serve 380 million users by 2025.
In this context, we ask ourselves: Which companies in the sector have received investments? What will their strategies be? We share those answers in this report.
Fintech investment in Latin America
Here are some of the most prominent companies that have received funding in the past semester.
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Ualá (Argentina)
The Argentine fintech reached a valuation of $2.75 billion in 2024. In Argentina, it has 6 million users; in Mexico and Colombia, it has 2 million clients.Investment amount: $300 million
Use of capital:
Ualá plans to accelerate its growth with the goal of becoming the largest bank in Argentina. In Mexico, it aims to reach 10 million customers. -
Addi (Colombia)
It serves around 2 million customers and works with more than 18,000 merchants in Colombia. Its marketplace platform registers more than 20,000 monthly transactions.Investment amount: $100 million
Use of capital:
Addi will use the funds to strengthen its ability to offer financing to consumers and merchants, and to strengthen the BNPL model, a segment gaining popularity in Latin America by allowing consumers to make immediate purchases and pay in installments. However, the model faces regulatory challenges and scrutiny from a market that demands long-term financial sustainability. -
R2 (Mexico)
R2 is a financial services provider that does not serve the end consumer but is a key player for business expansion: it secures capital for its partners, which are delivery or e-commerce apps.Investment amount: $59 million
Use of capital:
The fintech plans to expand its operations in Latin America, operating in countries such as Mexico, Colombia, Chile, and Peru. -
Minu (Mexico)
It is a financial wellness platform for employees offering 50 different benefits, including access to earned wages, high-yield savings, financial education, cards, food and fuel vouchers, discounts, and insurance.Investment amount: $30 million
Use of capital:
The platform plans to expand operations in Mexico and is close to reaching profitability. -
Asaas (Brazil)
This startup has more than 1 million full digital accounts for businesses, 170,000 clients, and over 660 employees.Investment amount: $148 million
Use of capital:
Asaas will use the funds for business growth and development in Brazil, offering management and automation tools for SMEs. Its strategy is to strengthen its capital according to Basel standards, hire software engineers, accelerate research and development, and seek strategic mergers and acquisitions to bolster inorganic growth (it has made three acquisitions of new products in recent years, such as NexInvoice). -
Grupo Albo (Mexico)
This company has 3 million users, and the transaction volume amounts to around $20 billion annually. According to fintech information, they have recorded record growth in revenue in 2024.Investment amount: $60 million
Use of capital:
Albo will use the funds to boost its credit products for individuals and businesses in 2025, addressing growing demand in Mexico. The Electronic Payment Fund Institution (IFPE), which is part of the Albo group, has been profitable for three years. However, this round aims to make the other companies in the group profitable, such as those specializing in financing. -
Bravo (Latam and Spain)
Bravo is a fintech for debt advisory and management operating in Latin America and Spain.Investment amount: $46 million
Use of capital:
Bravo will use the funds to drive its growth and credit division, offering personalized financial solutions to its clients. The plan is to create a debt settlement and credit issuance platform and accelerate expansion in some of the markets where it already operates: Mexico, Colombia, Spain, and Brazil. -
Stori (Mexico)
Stori’s growth reached a significant point in 2022, when the company was valued at over $1.2 billion, earning it recognition as a unicorn. It has 2.3 million credit card users and 300,000 clients on its savings product.Investment amount: $100 million
Use of capital:
Stori plans to expand into the Colombian market, offering its “S Card” and financial services to clients underserved by traditional banks. It has a three-year plan and aims to acquire 300,000 customers in this market.
