Latin America’s tech industry is thriving on adversity
Financial Times
23-05-18 04:34
Latin America's start-up scene is bucking the trend of the US, where companies are cutting back on staff, as online retail giant Mercado Libre plans to hire an extra 13,000 workers this year. The demand for fintech service providers in Latin America has helped to create companies such as Brazil's Dock, which allows others to offer financial services, and led to the creation of businesses such as Nubank, which is valued at $30bn and provides digital banking services. Latin America's geographic barriers may stymie physical trade but not online software. In fact, American businesses are contracting out more software development to cheaper locations in Latin America.