From a dozen different countries, 127 growth-stage Fintech and Insurtech startups applied to our Startupbootcamp Scale FinTech Mexico City program aiming to scale up their business, a 27% increase in the number of applications from the previous period.
Our experience with previous program generations has given us unprecedented understanding about how to best assist startups with their soft-landing in Latin America and to develop high-performing teams.
The next batch of startups that will participate in our upcoming program will be selected during our community event: Selection Days.
After an exhaustive scouting process for the best growth-stage talent, we received 127 applicants from a dozen countries: 27% more than last year. Our team hosted recruitment events in 8 cities: Monterrey, Bogota, São Paulo, Buenos Aires, Santiago, Madrid, Mexico City and New York.
This experience has allowed us to continue deepening our understanding of the ecosystem and identify the obstacles businesses face to scale quickly and achieve exponential growth.
According to Finnovista’s Fintech Radars and reports, payments and lending are the most important segments throughout the FinTech ecosystem in Latin America. These segments continue to drive growth in the industry and are the source of many of the region’s most successful FinTech startups.
A noteworthy trend over the last couple of years has also been strong technological development to address B2B (business to business) needs in the financial and insurance industries.
Most of the solutions that applied to our program are represented by the following segments: Lending (31%), Payments (22%), and Enterprise Tech (11%).
The country that we received the most applications from was Mexico, followed by Colombia, Argentina, the United States and Chile.
Next steps: Selection Days
Startupbootcamp Scale FinTech is run by Finnovista for Latin America, and on November 12th, more than 60 local mentors from its network will meet with 12 of the best startups which applied to the third generation of the program at our annual community event: Selection Days.
During this meeting, not only will we announce the next batch of scale-ups for Startupbootcamp Scale Fintech, but we’ll also share with our community a glimpse of the great talent we discovered during the application process.
In the following weeks, our team will be in charge of selecting and inviting 12 of the best startups to Selection Days.
For two full days, we will get to know them in-depth. Our corporate partners and mentors will help us assess their growth potential, coachability as well as their fit with the program and with the vision of Startupbootcamp and Finnovista.
After the announcement, the best startups will have a few weeks to prepare their monthly visits to our headquarters, Finnovista LOFT, for the next 6 months starting from December 9th when the program officially commences.
At each visit, one week each month, our team will offer them personalized content, masterclasses, workshops and 1:1 meetings with mentors and potential allies.
We are eager to provide them with customized support and help them to improve their businesses through mentorship and the aid of Finnovista’s strong regional network! Follow the conversation on our social media, or sign up for our newsletter.