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Where are they, what do they do, how many people do they employ and what billings do Fintech companies have? these and other questions were answered in the first survey of economic expectations that DCV conducted with EY chile to Fintech companies in the country in the first Fintech survey of expectations.
The first Fintech companies emerged between 2006 and 2009, but it was not until 2014 when the sector began to show explosive growth. Between that year and 2018, more than 60% of the companies currently operating were founded, and it is expected that they will continue to increase.
In this context, and according to data obtained in the survey, Fintech companies are strongly concentrated in the Metropolitan Region (86.11%). However, diversification is also observed in various regions of the country. Thus, with a similar percentage (2.78%) there are companies of these characteristics in the Region of Arica and Parinacota, Valparaíso, Libertador General Bernardo O'Higgins, Los Lagos and Magallanes and the Chilean Antarctic.
Regarding the activity they are engaged in, the "Banking, payments and transfers" and the "Financial management" sectors represent 22.22% of the total for each of the sectors, followed by "Crowdfunding & Lending" (16.67%), all of which lead in their respective sector. Those which are less common, such as "Market & Trading" represent 8.33% and at 5.56% those which are dedicated to "Insure Tech".
50% of the surveyed firms have less than 10 staff, although 44.4% have between 11 and 50 workers. Regarding their sales, 33.33% have a turnover that ranges between UF 10,001 and UF 25,000 a year; 25%, between UF 25,001 and UF 50,000; and 19.44% over UF 50,001. Regarding their seniority, 66.66% of the companies surveyed are four years old or less.
"It is very relevant to know more in detail who they are and how the companies in this new sector of the economy are structured. This same survey showed that Fintech companies are very optimistic about their future, which contrasts with the rest of the local companies; this fact makes it even more interesting to get to know them more closely considering this positive contrast", explained Javier Jara, Commercial and New Business Manager at DCV.
Jara adds the Fintech sector is known for having important potential associated benefits, such as the diversification of the financial offering, gains in industrial efficiency and the inclusion of unattended population segments. "If we add to this the growth that this industry is experiencing, the expectations and the confidence in the country's economy that its owners and executives have, they will become increasingly relevant," he added.
If you want to know the results of the first measurement of the Fintech survey of economic expectations, review them HERE.
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