The number of fintechs operating in Brazil went from 604 in June last year to 771 in August this year, a 28% growth, according to the 9th edition of Radar Fintechlab survey.
FintechLab co-founder, Fábio Gonsalez, said that there is a high number of new firms present in this edition. Of the 771 companies present, 270 of them, about 35% ,were not included in the previous version of the report. “It is a strong indication that they are startups that are less than a year old. This proves once again that the ecosystem continues to find opportunities to improve services and create new solutions that are very strongly influenced by regulatory advances such as Open Banking and PIX, for example ”, he says.
By Marcelo Bradaschia via LABS