As the fintech industry continues to mature throughout Latin America, Argentina boasts one of the most diversified markets in the region. Local and foreign providers alike are offering up innovative solutions across a wide variety of verticals, leveraging artificial intelligence, application programming interfaces and mobile wallet technologies to drive highly sophisticated, integrated products.

It all adds up to make Argentina a bellwether market for the entire LatAm fintech ecosystem, as detailed in a new report from Finnovista, in collaboration with Galileo and Mastercard. The findings from the 2024 Finnovista Fintech Radars, analyze fintech growth and trends across Latin America. The reports include survey data from fintechs in Chile, Colombia, Peru, and Argentina with around 200 participants per market on average, providing a comprehensive view of the region's evolving landscape.

Key stats on the diversified Argentinian fintech industry

There were 383 Argentina-headquartered fintechs operating in the county in 2024, 40 more than in 2023 and a new record high, according to the newly released, seventh annual Fintech Radar Argentina report. The number of local fintechs has been growing steadily over the past four years, with a 15.3 percent compound annual growth rate since 2020, the study found.

Diversification is a hallmark of the Argentinian fintech market, with payments and remittances, lending, enterprise financial management, banking tech infrastructure, cryptocurrency, wealth management and insurtech all well-represented by local providers. The fastest-growing of those sectors were crypto, with a net 16 new startups in 2024, followed by enterprise financial management, with nine, and insurtech, with eight.

Along with locally based providers, 101 fintechs headquartered outside Argentina operate within the country, comprising 21 percent of the nation’s overall fintech market. Chile, the United States, Mexico and Colombia were the most common home bases for foreign companies with an Argentinian presence, the report found. Payments and remittances, banking tech infrastructure and crypto were the most popular business areas among non-native firms operating in Argentina, according to the study.

3 key trends shaping Argentina’s fintech landscape

Along with revealing the numbers behind the diversification of Argentina's fintech market, the study also uncovered several key trends and developments that are shaping the industry in the country.

1) Economic environment sparking innovation

Amid challenges in Argentina’s overall economy in recent years, including fluctuations in GDP growth and other key indicators, fintechs have been key drivers of innovation, offering highly functional solutions for consumers and businesses alike. Crypto, digital wallets and digital payments all have been particularly catalyzed by user needs in an environment of high inflation and currency exchange limitations, the study found.

2) Increased collaboration with banks

While the amount of competition among fintechs is increasing in Argentina, there has been a notable rise in cooperation between the fintech and the banking sectors, the report revealed. This trend is being driven by established financial institutions seeking to recover lost ground in digital services, along with a growing understanding among banks that fintechs can help banks distribute financial products, particularly in service areas less able to be addressed by banks, such as offering credit to underserved sectors.

3) A friendlier regulatory environment

Argentinian fintechs polled for the study were of the general opinion that regulation has improved compared to last year, as a result of new legislative initiatives and closer relationships between regulators, associations and fintech companies. Although many fintechs have not yet experienced a direct impact from new regulations under the administration of president Javier Milei, who took office in late 2023, a significant proportion of fintech companies have already noticed positive effects in areas such as hiring, market liberalization and innovation facilitation, the study found.

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Want to learn more?

Explore the highly diversified Argentinian fintech market in our new Fintech Radar report.

Disclosure: This blog references findings from the 2024 Finnovista Fintech Radars, which analyze fintech growth and trends in Latin America. The reports cover survey data from fintechs in Chile, Colombia, Peru, Argentina, and Mexico (2025), with around 200 participants per market on average. Results reflect the views of participants and may not represent all Latin American fintechs. For methodology details, contact fintech.radar@finnosummit.com.