Latin America a potential next market for startups in South-east Asia
In particular, fintech is primed for growth in both regions due to shared issues such as lack of access to credit
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[SINGAPORE] Startups in South-east Asia looking for new markets to expand to could find opportunities halfway around the world in Latin America (Latam), market players say. That is because the regions share similarities in demographics, growth potential and regulatory support.
Latam’s median age is 30.9 years old, similar to South-east Asia’s 30.4 years, a report by venture capital firms Saison Capital and Valor Capital showed. This is an important metric, said Looi Qin En, a partner at Saison Capital, which is the corporate venture arm of Japanese financial services provider Credit Saison.
“Thirty years old is not just a young population – it is a young population that is actually employed and has growing disposable incomes,” Looi told The Business Times.
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