Payments, lending and neobanks rule fintechs in emerging markets, report says
May 06, 2021 1 min, 29 secs
Tech investments in emerging markets have been in full swing over the past couple of years and their ecosystems have thrived as a result.

Some of these markets like Africa, Latin America, and India, have comprehensive reports by publications and firms on trends and investments in their individual regions.

Well, a report released today by data research organization Briter Bridges and global inclusive tech accelerator Catalyst Fund is punching above its weight to offer a holistic representation to the darling sector of these three markets: fintech.

The report “State of Fintech in Emerging Markets Report” has three objectives — to evaluate the investment, product, and inclusivity trends across emerging markets.

The team surveyed over 177 startups and 33 investors across Africa, Latin America, and India.

Collectively, fintech startups have raised $10 billion in the past five years.

In 2019 alone, Indian fintech startups raised a record of $4.8 billion, per the report.

For  Latin America, the average seed deal in the last five years was around $5.7 million while India did approximately $4.6 million.

In all of this, the glaring fact, which is no news, is that Africa is lagging years behind Latin America and India.

Talking with Briter Bridges director Dario Giuliani, he pointed out that he’d lean on five years for the continent to get to where Latin America and India are at the moment

He added that what makes India a better market at this stage is because it isn’t a continent like the other markets and operations are uniform across board

Latin America is basically Brazil, Mexico, Argentina and Colombia who are seeing massive companies rise

One key detail the report mentions is that most fintechs across emerging markets are crossing over to different sectors like crop insurance, credit lines for distributors and vendors, KYC, e-commerce payment gateways, medical finance, and insurance

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