- C6 Bank, a digital bank, is the most-well funded company in Latin America with $2.3bn in total funding as of 16th May 2022. JP Morgan made its Brazilian retail banking debut by investing $2bn in June 2021 for a 40% stake of C6 Bank. Mexican-based Konfio, who provide digital banking, payments, and software tools, is the second most well-funded company on the map with $696m in total funding. Argentinian-based Ualá, a personal financial management mobile app linked to a Mastercard prepaid card, is the third most well-funded company listed raising a total of $544m.
- Marketplace Lending companies were the most common sector for companies on the map accounting for 33%. Before the Covid 19 pandemic 79% of people in Latin America had never borrowed any type of credit from a financial institution and 45% of adults did not have a bank account. Since the pandemic Latin American countries have embraced FinTech with an overall decrease in their unbanked population. Brazil exhibited the largest change, with a significant decrease of 73%.
The data for this research was taken from the FinTech Global database. More in-depth data and analytics on investments and companies across all FinTech sectors and regions around the world are available to subscribers of FinTech Global. ©2022 FinTech Global
