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