With Nubank and Inter, Brazil becomes the fifth largest global destination for investments in fintechs

Brazil has consolidated itself as an important global hub of new digital companies in the financial sector, fintechs. A survey conducted by accenture shows that the country is the fifth largest investment destination in the sector, with a contribution of US$ 1.6 billion in 2019, triple that recorded in 2018. The jump was driven by two large-scale businesses: the $400 million investment in the largest national fintech, Nubank, and the $344 million contributions to Banco Inter. Ranking. The volume of investments in Brazil's fintechs in 2019 was second only to U.S. companies ($26.1 billion), which is the largest global market, followed by the United Kingdom ($6.3 billion), India ($3.7 billion) and China ($1.9 billion). Brazil was even ahead of other markets developed in the digital field, such as Germany (US$ 1.5 billion) and Australia (US$ 1.1 billion), the consultancy pointed out.