Population
216M
Online population
181M
Currency
BRL
Population - 216M
Brazil is **the fifth most-populous** country on Earth and accounts for one-third of Latin America’s population.
Internet penetration- 84%
There were 181.8M internet users in Brazil in January 2023. Brazil’s internet penetration rate stood at 84.3% of the total population.
Brazil is the largest FinTech market in Latin America, and the fifth in the world, with about 700 startup companies. The US, Germany, and Japan are the countries with the most companies investing in startups in the country. Together, investors from these countries have joined more than 700 deals in the last ten years.
One of the key areas of growth in the Brazilian FinTech market is mobile payments. With the widespread adoption of smartphones and mobile banking apps, mobile payments have become increasingly popular among Brazilians, especially those who are unbanked or underbanked. As a result, many FinTech startups in Brazil are focusing on developing mobile payment solutions that are user-friendly and accessible.
<aside> 💡 A little over 70% of the 215.3M people in Brazil have a bank account, making it the third-most banked country in Latin America.
There are about 6.3M unbanked Brazilians. This part of the population moves nearly $70B of the country’s economy per year.
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