Colombia: Emerging Fintech Market in Latin America
- MD Finance Team
- Sep 12
- 3 min read
The fintech industry in Colombia is writing a new chapter in its evolution, reaching 394 local startups in the first quarter of 2024 – a 5.8% growth. Half of the ecosystem is made up of digital lending companies (28.4%) and the Payments&Remittances sector (18.5%). In today’s regional context, Colombia is emerging as a strategic player in the Latin American market thanks to its focus on Open Finance, renewed investment activity, and regulatory advancements.
Like Mexico, the focus in the country’s fintech has shifted from scale to value creation, financial sustainability, and technological integration. The sector is advancing through trends such as AI-driven efficiency, the integration of stablecoins, and Open Finance initiatives aimed at reshaping consumer data access. At the same time, government-backed programs, including real-time payments, are also expected to accelerate financial inclusion.
Colombia’s Economic Landscape
With a population of over 53M in 2025, 80% of whom live in urban areas, Colombia offers a dynamic base for digital finance. The country’s GDP reached $418.5 billion in 2024, placing it mid-tier within Latin America. Growth in 2025 is projected at 2.5%, caused by strong domestic consumption.
Inflation has declined to 4.9% by mid-2025 after a peak at nearly 12% in 2023. While food prices remain a pressure point, overall stabilization supports borrowing and credit expansion. On the downside, non-performing personal loans stand at 4.7%, while fintech lenders face delinquency rates close to 6%. This illustrates both the risks of reaching underserved borrowers and the opportunity for innovation in credit scoring and risk management.
Fintech Landscape
The number of 394 local startups marks a record high for the Colombian ecosystem. With more than 169 foreign companies also present, the total number of fintech ventures surpasses 560.
The market is dominated by alternative lending (28.4%) and payments & remittances (18.5%), while no other vertical exceeds 10%. Digital lending continues to be the key driver of growth: 112 ventures currently operate in this segment, adding 9 new firms in 2024.
Lending-focused fintechs report maintaining an average portfolio of over $7M, with a delinquency rate near 6% and an average interest rate of 20.5%. Despite regulatory caps on interest (tasa de usura), many players introduce extra charges such as guarantor fees, electronic signature costs, or insurance premiums, pushing borrowing costs higher.
Alternative Lending: Growth and Recent Fundings
Digital credit in Colombia has achieved strong penetration across both consumer and business segments, with microbusiness and retail lending driving demand. Recurrence rates are high, pointing to strong customer retention and continued reliance on digital credit. The sector’s $332.1M in revenue in 2024 and 39% operating margin confirm its profitability and sustainability.
Recent funding activity underscores investor interest: there were 20 funding rounds in 2024-2025. The most remarkable cases:
Addi dominates funding race with 5 rounds, including a $100M debt raise (Nov 2024) and $70M debt raise (Apr 2025). In total, Addi secured $238.5M across debt and equity, positioning itself as a leader in point-of-sale financing.
Welli, a healthcare-focused lender, raised $25M Series A in Jun 2025, demonstrating strong investor interest in the healthcare credit niche.
Smaller seed-stage players like Guama ($1.5M), Quipu ($1.5M), and Plataform ($3M) are experimenting with lending models for underserved markets.
Companies like Koggi (mortgage loans), Zíro (digital lending for businesses), and Mansa (DeFi lending) demonstrate that fintech solutions seek innovations, extending beyond consumer credit.
Despite many startups still at the seed stage, the sector shows clear momentum toward scaling innovative credit solutions across both consumer and business markets.
Download a full report to learn more about Colombia’s regulation system, recent fintech trends, and operations of top-performing digital lending companies.
