Fynsa
An expanding ecosystem
According to the EY Peru FinTech Index 2024in July of last year, 237 active fintechs were identified, with an annual growth rate of nearly 17%.% over 2023, led by the lending and financial management segments.
In addition, according to the Finnovista Fintech Radar 2024the ecosystem totals 346 fintechs -193 local and 153 foreign-, which reinforces the country's attractiveness for international companies.
The sector's dynamism has been favored by accelerated post-pandemic digitalization, growing demand for accessible financial services and institutional support.The sector's dynamism has been favored by accelerated post-pandemic digitalization, growing demand for accessible financial services and institutional support. Since 2021, the Superintendency of Banking, Insurance and AFP (SBS) has been operating a sandbox sandbox that allows startups to test innovative models in controlled environments. In 2025, the SBS reaffirmed its commitment to this tool as part of its strategy to foster financial innovation.
Financial inclusion as a driver of change
By the end of 2024, 59of Peruvian adults had an account in the financial system, and 92% of Peruvian adults had an account in the financial system.of districts had some type of formal financial presence, thanks to the expansion of correspondents and digital services.
Fintechs are playing a key role in further expanding these indicators by offering accessible solutions in peripheral urban areas and regions outside Lima. Many of these initiatives seek not only profitability, but also efficiency and inclusion.
Investment and consolidation of the sector
Several Peruvian fintechs have raised capital recently. According to Forbes Peru (2024), Leasy raised more than US$28 million in debt and equity to expand its vehicle financing offering. Culqi was acquired by Credicorp Capitalintegrating it into the digital payments ecosystem. Meanwhile, the startup Riqraspecializing in e-commerce B2B, exceeded US$1billion in transactions and strengthened its operation in Chile, consolidating its position as an emblematic case of regional scaling.
The great challenge will be to consolidate this environment through local sources of financing, more flexible regulatory frameworks and strategic alliances with traditional banks. In this context, public-private collaboration will be key to sustain its development.
Armando Herrera
General Manager Fynsa Peru
