In Latin America Swiss companies can find ideal conditions for innovative fintech solutions: a huge underbanked population (estimated at 50% or over 300m people), one of the highest smartphone penetrations in the world (70%), and a massive shift to online consumption triggered by the Covid-19 pandemic.
Local fintech companies have been quick to fill this gap and some have already grown into unicorns, financed by abundant venture capital flowing into the region ($1.6bn or 40% of capital raised in Latin America in 2020 went to fintech companies). The few Swiss fintech companies with a presence in Latin America agree that the opportunity the region offers is huge but that most of their peers are not giving the region enough attention.
Market insights from industry experts in the video
We have interviewed Swiss fintech entrepreneurs and other industry experts to share their opinion on why Latin America is a Fintech ‘El Dorado’, why Colombia and Peru are among the most attractive markets besides Brazil and Mexico and what Swiss fintech companies should keep in mind when expanding to Latin America.