Colombian Fintech Companies Choose Madrid to Develop Their Projects

A great number of Colombian fintech companies took part in the event organized by Finnovating.

Bogota hosted the FinTech Unconference Colombia 2023, organized by Finnovating, in collaboration with Madrid Investment Attraction (MIA) and Invest in Bogota, a meeting that brought together more than 150 fintech leaders and a total of 170 attendees.

This is a private meeting that brings together the main players in the country’s financial and insurance sector and was attended by banks, insurers, investors, associations, and authorities, along with representatives of the fintech and Insurtech industry.

During the event, it was highlighted that Madrid continues to be one of the most attractive cities for the fintech industry. The majority of the Colombian fintech companies present at the event agreed to that. Its quality of life, infrastructure network, and proximity to the regulator may be some of the key factors.

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As proof of this is that 50 Colombian fintech companies have already expressed their interest in setting up in the Spanish capital to develop their projects

“We want to give global visibility to Colombian FinTechs to help them accelerate their attraction of investment, clients, and strategic partners. In addition, through the Soft-landing program, we hope to also help them to better understand how the local ecosystem works in a city like Madrid,” said García de la Cruz, CEO of Finnovating.

For its part, Colombia continues to gain weight within the fintech industry, which generated more than 9,000 jobs in the country in 2022. This 2023, it is expected that the trend will continue to rise and that Bogota will become one of the key centers of the fintech and insurtech ecosystem worldwide.

According to the latest Finnovating report, fintech Global Vision 2023, Colombia is the third country with the largest fintech presence in Latin America, after Brazil and Mexico, with 642 active fintech companies, which places the country in 12th place worldwide.

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(Featured image by Alejandro Alfaro M via Unsplash)

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First published in LR LA REPUBLICA, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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