June 29, 2016
Latin America is one of the hottest emerging regions that can offer a tremendous opportunity for startups across industries. As we have recently started discovering local FinTech ecosystems, it became clear that mobile has made a significant impact across industries and that FinTech companies looking to enter the market should think mobile-first.
There is another important hallmark of the market in Latin America that opens endless opportunities for newcomers. According to the Center of Financial Inclusion estimations, 70% of people in Latin America do not have a bank account. Hence, it is an especially hot market for mobile-focused challenger banks to make an impact on the lives of a vast majority of the population. Mobile can become a gateway to the large market of the underbanked. It’s become such a powerful tool that it has changed the behavioral patterns across industries and has a great potential to become a primary channel for all kinds of interaction.
However, any venture requires a substantial support and connections in order to enter and successfully expand in the new market. Investors, private equity firms, VC firms, labs and variations of collaborations of professionals exist to help innovators with their first and further steps. Latin America is one of the most attractive markets across industries and there is an array of supporters waiting for the next big thing and next disruptor to transform the market.
Description in company’s own words
Logo500 Latam 500 Latam are the most badass family of founders, investors and mentors, and they love LATAM. The 500 Startups Accelerator experiments with early-stage startup formulas for explosive growth with a mixture of up to $250K in funding, superhuman mentors & designers in residence, platform-specific strategies for customer acquisition, a creative workspace and lots more.