Introduction
The Mexican fintech sector has reached a stage of maturity that places it on the same level of relevance as traditional financial giants, according to Andrés Fontao, General Director of Finnosummit, during the 2025 edition of this specialized technology finance event.
Growth and Maturity of the Mexican Fintech Sector
In 2024, the Mexican fintech ecosystem surpassed 800 local companies founded in the country or with founding teams of Mexican origin, as reported by Finnosummit’s “Fintech Radar 2025”.
This figure represents nearly a 4% growth compared to 2023, a smaller percentage than previous years when expansion was more rapid. However, this shift is part of a consolidation phase: the sector’s dynamism is now reflected in the solidity of existing companies rather than a high number of new ventures.
“We have witnessed a revolution. Fintechs entered the market with disruptive force, challenging the status quo and paving the way for innovations. Today, the landscape is different: the sector has matured, consolidated, and we are in a new era of fintech,” Fontao emphasized.
Although the number of companies is growing at a more moderate pace, financial indicators show an upward trajectory. Between 2021 and 2024, the sector reported an annual compounded revenue growth rate close to 22%. In the last period from 2023 to 2024, the growth was estimated at 31%. These figures demonstrate a solid revenue generation trend with even more optimistic prospects for the remainder of 2025, according to Fontao.
“The consolidation we see today is a statement of persistence: fintechs have arrived to stay, and their future is here,” Fontao noted.
International Expansion
Internationalization has become a key characteristic of the ecosystem. According to Finnosummit’s Fintech Radar, despite political tensions, the United States remains the preferred destination for Mexican companies’ expansion. Colombia has gained ground as a strategic ally, consolidating itself in recent years as a relevant partner for the industry.
“We are building the sector’s future together, in every conversation, every handshake, and every shared idea,” Fontao highlighted.
Key Questions and Answers
- What does the maturity of the Mexican fintech sector mean? It signifies that fintechs have become established players, comparable to traditional financial giants in terms of relevance and decision-making power.
- How many fintech companies are there in Mexico? As of 2024, there are over 800 local fintech companies in Mexico.
- What is the growth trend of the Mexican fintech sector? The sector has reported an annual compounded revenue growth rate close to 22% between 2021 and 2024, with a 31% growth in the last period from 2023 to 2024.
- Which countries are preferred destinations for Mexican fintech expansion? Despite political tensions, the United States remains the top choice for Mexican fintech companies’ expansion. Colombia has also gained traction as a strategic ally.
