Key LATAM FinTech investment stats for 2024:
- LATAM FinTech deal activity halved in 2024
- Deals over $100m grew by 5% for the year as investors prioritised larger deals
- Ualá, an Argentine-based neobank operating across Latin America, has secured one of the largest LATAM FinTech deals of the year with a $300m Series E funding round
LATAM FinTech deal activity halved in 2024
In 2024, the LATAM FinTech market experienced a continued decline in both deal volume and total funding compared to prior years.
Total funding in 2024 amounted to $2.4bn across 140 deals, a 13% drop from the $2.7bn recorded in 2023 and a 26% decrease from the $3.2bn raised in 2020.
Deal volume fell even more sharply, with 140 deals completed in 2024 representing a 56% decline from the 320 deals recorded in 2023 and a 69% drop from the 458 deals seen in 2020.
These figures highlight a consolidating market, with reduced activity indicating a more cautious investment environment.
Deals over $100m grew by 5% for the year as investors prioritised larger deals
Funding from deals under $100m reached $1.3bn in 2024, down 24% from the $1.7bn recorded in 2023 and 11% below the $1.4bn reported in 2020.
Larger deals valued at $100m or more raised $1.1bn in 2024, marking a 5% increase over the $1.0bn achieved in 2023 but a 38% drop from the $1.8bn raised in 2020.
While overall funding has decreased, the average deal size has risen significantly.
In 2020, the average deal size was $7.0m, which increased to $8.5m in 2023, reflecting a 21% growth, and surged by 63% to $16.9m in 2024.
This rise in average deal size underscores a shift toward fewer, higher-value transactions, suggesting a focus on more established companies and strategic investments amidst broader economic uncertainties.
Ualá, an Argentine-based neobank operating across Latin America, has secured one of the largest LATAM FinTech deals of the year with a $300m Series E funding round
Led by Allianz X, with participation from prominent investors like Stone Ridge Holdings, Tencent, and Goldman Sachs Asset Management, the funding will fuel Ualá’s expansion across Argentina, Mexico, and Colombia.
Leveraging its proprietary AI-driven tools such as UaláScore, the neobank aims to enhance personalised financial offerings, including credit scoring, loans, and investment products, while continuing to drive financial inclusion.
Ualá’s banking licenses and partnerships, including with Allianz X, position it to innovate further in both banking and insurance solutions, advancing its mission to provide accessible and comprehensive financial services to over eight million users across the region.
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