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Mexico is the second largest startup market in Latin America.

Startups have become a sector of great relevance in the world economy; in addition to generating jobs, they also increase competitiveness, which guarantees the quality of their products and services, and by promoting the purchase of these, they attract investment and technological and economic development.

 

In this growth, Mexico plays an important role for entrepreneurs; according to a study conducted by PWC, the country is the second largest startup market in Latin America, only behind Brazil, and has the most significant fintech ecosystem with 20% of financial technology startups.

 

However, startups still face the challenge of raising capital; a survey conducted by Ipsos reveals that for 41% of entrepreneurs funding is the biggest challenge of their business, this can become a major challenge as a company grows and there are more people involved.

 

Being newly created companies, startups have little access to financial services, in this sense, fintechs are a very important alternative for entrepreneurs to access financial and technological solutions, in addition to obtaining more efficient business models and access to more customers, an alliance that positively impacts the country's economy.