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Mexico is a red hot market for fintechs

Wednesday, January 2, 2019

Fintech startups are abounding in Mexico because many people have no bank accounts, and investment capital is readily available.

The fintechs are a new phenomenon in the country. Some 300 are reckoned to have been launched in the last year and a half, providing individuals and small businesses to provide facilities that banks are unwilling or unable to provide them.

"Mexico is really hot for the fintechs," Mauricio Cordero, a former banker and head of one of the startups said in an interview with the Spain-based daily El País.