Peru’s Fintech Scene

Brazil and Mexico are often talked about as fintech booms in Latin America; the size of the industry overall is expected to be $150 billion by 2021; Peru however is a country to watch with approximately 120 fintech startups targeting areas like financial inclusion and small business lending; it is an area where around 14 million people are considered underbanked; two Peruvian fintechs were selected in 2019 to join the Y Combinator accelerator program; in addition, traditional banks in Peru are becoming more open to fintech partnerships with Credicorp recently creating a venture fund to make fintech investments; so far they have invested in the payments space and into a lending platform; TechCrunch digs further into the Latin America fintech scene and why it continues to be an area seeing growth. Tech Crunch

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