(by Angela Scott-Briggs, www.techbullion.com)

Fintech is thriving in Mexico. With over 158 fintech start-ups, Mexico is the largest fintech market in Latin America, surpassing other big markets such as Brazil (130 start-ups) or Colombia (77 start-ups). Most of the Mexican fintech companies focus on payments and remittances, personal financial management, crowdfunding, and lending, among other segments. This random list of top 10 Mexico fintech companies will give you an understanding of how they are doing:

  1. Konfio

Founded in 2013, Konfio is a leading platform that assists underserved micro-enterprises to obtain affordable and convenient loans via a propriety algorithm that measures creditworthiness using technology. It offers small businesses loans of up to 150,000 pesos to assist them develop their businesses and grow their operations, with competitive rates and via an online process. In May this year, the start-up received $8 million investment from the Accion Frontier Inclusion Fund that was intended to enable the lender to grow its user base, adopt corporate best practices and strengthen its operations.

  1. Kueski

Kueski is the fastest-growing micro-lending service in Mexico and Latin America. It uses advanced analytics and big data to approve and grant loans in a matter of minutes. Simple and available 24/7, the company is the most appropriate lending platform for people who need an immediate loan. Early this year, the company scored largest fintech investment in the history of Mexico with $35 million.

  1. Prestadero

Founded in 2011, PRESTADERO is a leading P2P lending platform that is transforming the banking system to make investing more rewarding and credit more affordable. By removing middlemen like banks, the company provides competitive rates for both lenders and borrowers.

  1. kubo financiero

KUBO Financiero is a P2P lending platform that provides affordable and accessible loans to borrowers. Ranging from US$400 to $4,100, the loans can be used for fixed assets, working capital, supplies, education fees, and pre-payment for other loans with higher interest rates. In August 2016, the company raised $7.5M during series A funding round.

  1. UNIKO

UNIKOis an innovative company that provides the couple an opportunity to experience something different by changing gifts into cash. Early this year, the company received a total of $450k funding from 500 Start-ups and Rokk3r Labs.

  1. Bankaool

In 2013, BANKAOOL received the approval of the Comisión Nacional Bancaria y de Valores of Mexico (CNBV) that allowed it to be a multi-service bank. The company launched a digital platform to start marketing its first 100% digital bank accounts.  Since last year, the potential customers of Bankaool are not required to visit an actual branch, and over 65,000 accounts have been created.

  1. Conekta

CONEKTA enables developers and companies to create a payment solution with their own flow and design for any app and website. The company is a technology company and certified aggregator whose objective is to develop payment system that helps consumers transact successfully online.

  1. Pago

Launched in 2010, Sr. PAGO is a mobile point of sale that allows small businesses and individuals to receive card payments through tablets and smartphones.  It allows customers to have access to banking-related products and services through a chip-based debit card. The MPOS system allows its user to receive credit card payment for services they render and transfer money to a reloadable MasterCard debit card.

  1. Saldo

Founded in 2014 by Marco Nery, SALDO is a digital wallet that enables customers to pay bills to businesses in Mexico using tablets or smartphones. Users can choose the business, enter the reference number, and then pay with any bank card.

  1. Bitso

Bitso is the first bitcoin exchange in Mexico, providing a platform for selling and buying bitcoin with Mexican Peso. It offers the highest level security and professionalism to bitcoin trading, Bitso exchange runs as a traditional currency exchange and has a central limit order book.

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