Fintech Fuels Job Growth in Colombia as Young Talent Drives Innovation

Colombia’s fintech sector continues to strengthen, and job creation is increasingly noticeable. Although some companies in the sector, in their startup category, do not yet have a large workforce, there are categories that are growing in number of employees.

Colombia Fintech‘s latest Fintech Snapshot 2024 report documented the sector’s progress in employability, with categories such as digital payments and digital credit generating 68% of jobs in the fintech ecosystem, with 10,914 and 8,240, respectively.

Categories of companies that employ the most within fintech in Colombia

Neobanks, on the other hand, with just eight players, employ 2,066 people; the crypto and blockchain category, with eight active companies, employs 1,984 people—considerable numbers considering the small number of players in the market. There are 1,616 jobs in the corporate finance category; 1,326 in PFM and wealthech; and 1,045 in regtech.

Other smaller categories together account for 532 jobs, with insurtech and crowdfunding generating 164 and 133 jobs, respectively.

A report by Tusdatos.com revealed the five companies with the highest unemployment rate in the sector. These include Rappi, with 1,717 jobs in Colombia and 3,000 in the countries where they operate—nine of which include Colombia. Tul, with 604 jobs generated; Nequi, with 570 jobs; La Haus, with 544 jobs; and Addi, with 536.

“Colombia has a unique talent base, capable of adapting and learning, which has made Rappi the leading platform in Latin America. Rappi is not simply an economic engine; it’s a breeding ground for leaders with an entrepreneurial mindset born from a culture based on transformation and excellence,” said Matías Laks, general manager of Rappi Colombia.

Young talent to boost technology-based companies

Rappi, the company in the sector that generates the most employment in Colombia, confirmed that 80% of its workforce is young, characterized by being a dynamic and enthusiastic talent, from which they have been able to demonstrate that “young talent in technology companies is essential to drive creativity and growth,” said Matías Laks, general manager of Rappi Colombia, who also added that young people within the organization bring a fresh perspective and have an innate ability to adapt.

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(Featured image by Flavia Carpio via Unsplash)

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First published in elCOLOMBIANO. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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