Mexico’s fintech ecosystem is entering a mature phase characterized by strategic growth, increased scalability and substantial investment, according to a new study. 

The 2025 Fintech Radar Mexico report, published by Finnovista in collaboration with Mastercard and Galileo, found that the country's fintech industry is entering a “scale-up” mode and has become a pivotal hub for financial innovation in Latin America, closing the gap with regional leader Brazil. 

While the number of new startups in the country has stabilized, revenues are soaring as the Mexican ecosystem prioritizes scalability and profitability–making it one of the key markets to watch amid LatAm’s booming fintech landscape. 

Key stats on Mexico’s maturing fintech market

The report reveals a Mexican fintech sector that is transitioning from rapid expansion to strategic consolidation. In 2024, there were 1,004 fintech providers operating in the Mexican market. Of those, 803 were Mexico-based companies. While the growth in the number of homegrown fintechs was a relatively modest  4 percent, these domestic businesses reported a 31 percent increase in revenues, reflecting a shift toward profitability and operational efficiency.

Foreign participation in the market was substantial, with 301 international startups (27 percent of the total) now operating in Mexico. This influx of international players has significantly enhanced the diversity, quality and effectiveness of financial solutions available to Mexican consumers and businesses, the study found. 

Mexico has also narrowed the investment gap with Brazil. While historically trailing well behind, Mexico now captures approximately 60 percent of the venture capital that Brazil attracts—a dramatic increase from just 34 percent in 2020. And with $865 million invested across 50 deals in 2024, the fintech sector represents 74 percent of all venture capital deployed in Mexico, highlighting investors’ confidence in the industry's potential, according to the report.

Along with the numbers behind Mexico’s maturing fintech market, the study also uncovered several key trends and developments that are shaping the industry in the country.

3 key trends shaping Mexico’s fintech future

1. Digital payments and cryptocurrency adoption

Mexico’s payments and remittances sector is experiencing exceptional momentum, with 45 percent of companies in that segment processing more $30 million in digital transactions in 2024. This proportion is projected to rise to 76 percent by 2027, signaling strong growth potential.

Cryptocurrency adoption also is gaining significant traction in the Mexican market. Among crypto-focused fintechs, 63 percent enable consumers to use crypto stablecoins for personal remittances, while 50 percent enable cross-border trade, the study found–demonstrating how these technologies are transforming payment infrastructures and addressing cross-border friction points.

2. Strategic AI implementation

Artificial intelligence has become a cornerstone of Mexico's fintech evolution, with 68 percent of fintechs in the market now utilizing AI. What’s particularly noteworthy is the strategic approach to AI implementation—fintechs are developing internal AI capabilities for core functions like user behavior prediction, machine learning algorithms and fraud prevention, while outsourcing more general applications like chatbots and task automation, according to the study. 

AI adoption is especially prevalent in wealth management (81 percent), digital banking (73 percent) and infrastructure services (69 percent). Interestingly, AI also has become crucial for serving underbanked populations, with 75 percent of fintechs employing these technologies for users with only one financial product, a trend that could potentially accelerate financial inclusion, the report found.

3. Ecosystem collaboration and integration

Mexico leads Latin America in ecosystem collaboration, with 75 percent of fintechs either actively collaborating with traditional financial institutions or open to such partnerships. This collaborative approach positions Mexico ahead of Argentina (74 percent), Colombia (73 percent), Chile (67 percent), and Peru (55 percent) in ecosystem integration.

The open finance sector exemplifies this collaborative spirit, with stakeholders focusing on advancing regulations to unlock the full potential of data sharing and service integration. While bureaucratic processes remain the primary challenge to effective collaboration, Mexico’s financial sector is steadily evolving toward a more integrated ecosystem model, the study reported. 

As Mexico's fintech landscape continues to mature, the focus has clearly shifted from mere growth to enhancing customer retention, improving operational scalability and increasing profit margins—a transition that positions the country as an increasingly influential player in the regional–and global–fintech arena.

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Want to learn more?

Explore the rapidly maturing Mexican fintech landscape in our new Fintech Radar report.

Disclosure: This blog references findings from the 2024 Finnovista Fintech Radars, which analyze fintech growth and trends in Latin America. The reports cover survey data from fintechs in Chile, Colombia, Peru, Argentina, and Mexico (2025), with around 200 participants per market on average. Results reflect the views of participants and may not represent all Latin American fintechs. For methodology details, contact fintech.radar@finnosummit.com.