“As long as I'm a good person and I do things from the heart, that's all that matters.” - Gisele Bündchen (Brazilian fashion model)
October 3, End Of Day
Latin America continues its journey towards digital growth, with both promising advancements and challenges that persist in the region. Atlantico.vc published their yearly report on the digital transformation in Latin America. Here are some key points from the analysis:
1. Rising Internet Connectivity
In 2024, Latin America's internet penetration reached 76%, aligning with global averages. Cellular mobile connections have surged to 97% per capita, demonstrating strong mobile infrastructure expansion.
2. Untapped Value in Tech
Latin America holds tremendous potential to catch up with global tech leaders, with a projected $4.17 trillion in value creation as the region advances in digital transformation.
3. Digital Infrastructure Gaps
Despite advancements, Latin America is still significantly behind in digital infrastructure, with tech companies accounting for just 3.5% of GDP, compared to 18.8% in China.
4. Opportunities in Fintech (Still) Stand Out
The rise of digital payment solutions like Pix and Open Finance is transforming the financial landscape, with more than 87% of Brazilians using Pix by 2023.
TELL Toolkit Inc: TELL Toolkit is pioneering the use of AI in digital health to analyse speech for early detection of neurodegenerative diseases such as Alzheimer's and Parkinson's. This solution is remote, non-invasive, and quick, offering analysis within 5 minutes. Get to know the case here.
tuGerente: Their platform handles over 2M transactions and analyzes over 600k reports monthly. They have over 700 paying SMEs. With a strong emphasis on inventory management and integration, they've been EBITDA positive since November 2022. Dive deeper into the case here.
Dora: Dora has reached nearly 1000 tenants in just 12 months and achieved a 30% month-over-month revenue growth. The company has expanded to 17 new city markets in Colombia in 2023. Dive deeper into the case here.
Dive deeper into other fundraising firms in LatAm here.
Mexico: Claudia Sheinbaum was sworn in as Mexico's first female president, pledging to advance women's rights and maintain investor confidence. She aims to uphold fiscal discipline, ensure central bank autonomy, and secure foreign investments. Sheinbaum also committed to reforms on gender violence and public services, while ruling out a major tax overhaul despite facing economic challenges like a large budget deficit and slow growth. Her presidency follows her predecessor's promise of "continuity with change."
Brazil: Moody's recent credit rating upgrade of Brazil to Ba1, just one notch below investment grade, is expected to reduce the country's risk premium and attract non-resident investments, according to Finance Ministry officials. The upgrade boosted the Brazilian real and lowered interest rate futures, although rates remain above 12%. Officials remain confident in meeting fiscal targets, despite market concerns over recent government spending and tax policies.
Guyana: Guyana received 27 bids from major energy firms, including Shell and Chevron, for a 12-month contract to market its share of crude oil. The contract, starting in November, covers crude from the Liza, Unity Gold, and Payara projects, part of a production-sharing deal with Exxon Mobil. The government expects to market around 23 cargoes, subject to production rates.
Check our recently published insights here. Recent post:
🚀 SaaS Innovation in Latin America
Latin America is emerging as a dynamic hub for SaaS development. These technologies are revolutionizing automation, data analysis, and financial services across the region.
Key Innovations and Trends:
These advancements position Latin America as a significant player in the global SaaS landscape, offering innovative solutions and opening new markets.
🔍 Read more here.
