Mexico continues to draw VC attention as the race between fintech startups to win over the country’s digital banking market heats up. The fintech startups with the highest valuations in Mexico all target the country’s underbanked consumers as digital payments and financial services continue to grow. Only 11.2% of people in Mexico ages 15 and older had credit cards in 2022, according to World Bank Group data. Credit card transactions in Mexico (258.5 million since 2009) still lag far behind debit card purchases (645.9 million), according to April 2025 data from rankingslatam.
“What we’re really talking about is that group that the banks aren’t giving credit to for one reason or another,” said Mike Packer, a partner at QED Investors who focuses on investments in Latin America. “It’s because of income, sometimes it’s about location, maybe they’ve had a blemish on their record in the past.”
Just the past 4 years since I have been going to Mexico I can definitely tell a rise interest in Bitcoin and esp since Yopaki has been building over there. Just from what from what Francisco and Carlos have shared with me, the momentum there feels incredibly bullish. If your not paying attention you probably should be...going to be a bullish end of 2025!