The fact that someone, away from Mexico and with little affinity with Fintech, has chosen to share and read an article about the problems that many startups like Credijusto are trying to solve in Mexico and throughout Latin America, is extremely satisfying and gives me the energy and the excitement of continuing to build a bigger and better Finnovista with the ability to provide an even greater impact in the region.
As we approach our sixth anniversary in Finnovista, it is surprising to see how much the Fintech sector in Latin America has matured and developed during this time. I remember it was yesterday when Fermin and I landed in Bogotá in August 2013 and started having conversations with local and regional businessmen, investors and different actors in the financial industry. I remember that I shared our vision with one of the most prominent businessmen in Colombia and they told me, in a negative way, “You are crazy. The banks will never allow that to happen. ”
Later that year, some of the founding fathers of the Latin American fintech scene were able to meet; Alejandro Cosentino (Afluenta), Nicolas Shea (Cumplo), Vicente Fenoll (Kubo.financiero) and Dan Gertsacov (then with Lenddo). But, more importantly, with your support, we began to sow the seeds of a Fintech movement that expanded throughout the region and included founders, investors, accelerators, industry entrepreneurs and many more interested in the sector and the ecosystems of the industry.
But it is not the past that excites me, but the present and the future. The opportunity to be a disruptive medium in the finance sector in Latin America that is as clear and great as ever. And the winds are blowing strongly in favor of the new technology companies that are transforming financial services in the region.
Capital is flowing, headlines are collaborating, regulation is being drafted and approved, talent is readily available and many other indicators that should bring positive change.
Despite the impending political and economic uncertainty in countries such as Mexico or Argentina, excitement abounds in the regional Fintech community; Only in the last week, we have read about the financing of Credijusto’s debt for US $ 100MM, the PayPal investment for US $ 750MM in MercadoLibe and the announcements announced by SoftBank. Fund of US $ 5 billion, some of which will go towards investments of Fintech, I am sure, in the very near future.
And there is much more to come. That is why I am convinced that there has never been a better time to be a Fintech entrepreneur in Latin America than now.