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How Is The Digital Entrepreneurship Scenario In Brazil?Posted 04/11/2022
Brazil has been the stage for the consolidation of numerous startups from the most varied segments in recent years. In addition to legaltechs, healthtechs and foodtechs, fintechs are highlighted by offering digital products in the financial area.
The company expansion in a purely virtual business model is strengthened by the trend of digital enterprise, something very promising for foreign investors in Brazil. Learn more in this article by Europartner, an accounting firm specializing in BPO for fintech in Brazil!
What is Digital Entrepreneurship?
In short, digital entrepreneurship means creating businesses in a completely virtual environment. This business model has become more interesting and viable during the pandemic, taking into account safety protocols to protect people’s health.
However, entrepreneur in the online environment was a movement that started well before the pandemic. With digital transformation, many companies in different business niches have migrated their operations to web 4.0 and opened up new business opportunities around the world.
Certainly, entrepreneurship in the online environment has generated benefits such as:
- Creating new practices to find customers;
- The emergence of new methods and strategies to offer products and services;
- New ways to generate revenue and reduce costs;
- Emergence of new sources of opportunity, risk, and competitive advantage;
What types of digital ventures are growing the most in Brazil?
Tech startups are collaborating in a promising way to accelerate digital transformation in many business segments in Brazil. Already quite popular among the Brazilian public, startups gain notoriety for aspects such as innovation, disruptiveness, and originality.
According to a survey conducted by KPMG and the Brazilian Association of Private Equity and Venture Capital (Abvcap) released in 2021, Venture Capital funds have injected BRL 46.5 billion into Brazilian digital companies. Therefore, an investment responsible for tripling the value recorded in 2020.
Among the techs most benefited from this are editechs, fintechs, insurtechs, agrotechs, and healthtechs.
Fintechs in Brazil
All in all, fintechs are companies that use technology aiming at offering innovative products in the financial area. In addition, the focus on building and offering products is always on promoting a better experience for users.
In other words, it is not enough to just offer a financial product developed with intensive technology. It is also essential that the use of financial products and services occurs in a safe, practical manner that provides convenience for users, meeting the specific needs of customers.
So, through fintechs, customers can enjoy financial services such as financing, loans, asset management, among others.
Digital platforms that have revolutionized the financial scenario in Brazil
The financial industry was synonymous with bureaucracy, time-consuming service, and slow processes. However, digital platforms impacted the financial landscape, revolutionizing based on process automation and investments in customer experience.
In contrast to the traditional financial sector, new digital platforms have been consolidated in the lives of Brazilians, namely:
- Fintechs in Brazil: Nubank, Neon, C6 Bank, Creditas, PicPay
- International fintechs: TransferWise, Compass
Evolution of fintechs in Brazil
The first fintechs emerged in the country in 2013, already bringing innovative, low-cost models with digital distribution, fully focused on reformulating the customer experience.
From 2000 to the present day, finance tech companies have achieved rapid expansion, as noted below:
- Before 2000: 20 fintechs in Brazil
- 2000 – 2010: 144 fintechs in Brazil
- 2011 – 2015: 306 fintechs in Brazil
- 2016 – 2022: 819 fintechs in Brazil
BOP for fintech in Brazil
There is no doubt that fintechs are an attractive business niche for foreign investors. But the consolidation of companies of this model in Brazil demands the support of specialized accounting and BPO professionals.
Europartner offers BPO services for fintech in Brazil. With Business Process Outsourcing, you, a foreign entrepreneur, can dedicate yourself exclusively to the growth of your corporation, while our team of experts manage all secondary activities for you.
Count on our experience! Get in touch with us and learn how our professionals can help your company grow in Brazil!Author's post: Europartner Accounting