Brazil Embedded Finance Business Report 2024: A $13.82 Billion Market by 2029 - 75+ KPIs on Embedded Lending, Insurance, Payment, and Wealth Segments
Brazilian Embedded Finance Business and Investment Opportunities Market
Dublin, May 17, 2024 (GLOBE NEWSWIRE) -- The "Brazil Embedded Finance Business and Investment Opportunities Databook - 75+ KPIs on Embedded Lending, Insurance, Payment, and Wealth Segments - Q1 2024 Update" report has been added to ResearchAndMarkets.com's offering.
Embedded Finance industry in Brazil is expected to grow by 37.3% on annual basis to reach US$ 4.31 billion in 2024. The embedded finance industry is expected to grow steadily over the forecast period, recording a CAGR of 26.2% during 2024-2029. The embedded finance revenues in the country will increase from US$ 4.31 billion in 2024 to reach US$ 13.82 billion by 2029.
Brazil has witnessed a rapid increase in digitalization, driven by the growing adoption of smartphones and internet connectivity. With over 134 million smartphone users and approximately 149 million internet users as of 2021, there is a vast market for embedded finance solutions. The proliferation of digital channels provides a conducive environment for the expansion of embedded finance offerings.
The substantial growth the embedded insurance space has experienced in Brazil can be primarily attributed to the growing number of insurtech firms emerging in the country. The number of insurtech firms has reached more than 200 in 2020, from less than 100 in 2,017. The rising popularity of embedded insurance policies is pushing Brazilian start-ups to leverage this rapid growth by raising funds.
Capital infusion in the embedded insurance sector is projected to support the country's overall insurance penetration rate.Growth Driver in Brazil: Brazil boasts a high smartphone penetration rate, creating a fertile ground for mobile-based embedded finance solutions. The number of smartphone users in Brazil surpassed 155 million in 2023, indicating a vast market for digital financial services.
Expanding Fintech Ecosystem: Brazil's fintech ecosystem has been rapidly expanding, with a surge in the number of startups offering innovative financial products and services. According to Statista, Brazil ranked third globally in terms of the number of fintech startups in 2020, with over 1,100 active companies. This vibrant ecosystem fosters competition and drives the development of embedded finance solutions tailored to the needs of Brazilian consumers and businesses.
Financial Inclusion Initiatives: Despite advancements in digital banking, a significant portion of Brazil's population remains underserved by traditional financial institutions. Embedded finance has the potential to bridge this gap by providing inclusive and accessible financial services to underserved communities. By leveraging technologies such as mobile banking and digital wallets, embedded finance solutions can reach unbanked and underbanked populations, driving financial inclusion efforts in the country.
Major Innovation and Partnership in Brazil:
Market players are increasingly combining their expertise and developing new embedded payments solutions to capture the massive untapped population in Brazil.
In Jul 2023, Card issuer Marqeta entered Latin America's largest FinTech market with its expansion into Brazil. The expansion is happening via a partnership with Latin American banking-as-a-service (BaaS) platform Fitbank and network certification with Visa. The expansion means Marqeta's platform is operational in more than 40 counties, according to the release. With Fitbank, Marqeta's customers get access to a platform licensed by Brazil's central bank and directly integrated with PIX, the country's real-time payments system.
In February 2022, VEF invested USD 12.2 Mn in Gringo, Brazil's leading 'super-app' for driver, serving over 5 Mn drivers. VEF led Gringo's USD 34 Mn Series B round with co-investment from Piton Capital, ICU, and participation from existing investors Kaszek, GFC and OneVC.
Looking ahead, the Brazilian embedded finance market is poised for continued expansion, driven by various above listed factors and the increasing demand for convenient and accessible financial services.
Key Attributes:
Report Attribute | Details |
No. of Pages | 130 |
Forecast Period | 2024 - 2029 |
Estimated Market Value (USD) in 2024 | $4.3 Billion |
Forecasted Market Value (USD) by 2029 | $13.8 Billion |
Compound Annual Growth Rate | 26.2% |
Regions Covered | Brazil |
Scope
Embedded Finance by Key Sectors
Retail
Logistics
Telecommunications
Manufacturing
Consumer Health
Others
Embedded Finance by Business Model
Platforms
Enabler
Regulatory Entity
Embedded Finance by Distribution Model
Own Platforms
Third Party Platforms
Brazil Embedded Insurance Market Size and Forecast
Embedded Insurance by Industry
Embedded Insurance in Consumer Products
Embedded Insurance in Travel & Hospitality
Embedded Insurance in Automotive
Embedded Insurance in Healthcare
Embedded Insurance in Real Estate
Embedded Insurance in Transport & Logistics
Embedded Insurance in Others
Embedded Insurance by Consumer Segments
B2B
B2C
Embedded Insurance by Type of Offering
Embedded Insurance in Product Segment
Embedded Insurance in Service Segment
Embedded Insurance by Business Model
Platforms
Enabler
Regulatory Entity
Embedded Insurance by Distribution Model
Own Platforms
Third Party Platforms
Embedded Insurance by Distribution Channel
Embedded Sales
Bancassurance
Broker's/IFA's
Tied Agents
Embedded Insurance by Insurance Type
Embedded Insurance in Life Segment
Embedded Insurance in Non-Life Segment
Embedded Insurance in Non-Life Segment
Motor Vehicle
Fire and Property
Accident and Health
General Liability
Marine, Aviation and other Transport
Other
Brazil Embedded Lending Market Size and Forecast
Embedded Lending by Consumer Segments
Business Lending
Retail Lending
Embedded Lending by B2B Sectors
Embedded Lending in Retail & Consumer Goods
Embedded Lending in IT & Software Services
Embedded Lending in Media, Entertainment & Leisure
Embedded Lending in Manufacturing & Distribution
Embedded Lending in Real Estate
Embedded Lending in Other
Embedded Lending by B2C Sectors
Embedded Lending in Retail Shopping
Embedded Lending in Home Improvement
Embedded Lending in Leisure & Entertainment
Embedded Lending in Healthcare and Wellness
Embedded Lending in Other
Embedded Lending by Type
BNPL Lending
POS Lending
Personal Loans
Embedded Lending by Business Model
Platforms
Enabler
Regulatory Entity
Embedded Lending by Distribution Model
Own Platforms
Third Party Platforms
Brazil Embedded Payment Market Size and Forecast
Embedded Payment by Consumer Segments
B2B
B2C
Embedded Payment by End-Use Sector
Embedded Payment in Retail & Consumer Goods
Embedded Payment in Digital Products & Services
Embedded Payment in Utility Bill Payment
Embedded Payment in Travel & Hospitality
Embedded Payment in Leisure & Entertainment
Embedded Payment in Health & Wellness
Embedded Payment in Office Supplies & Equipment
Embedded Payment in Other
Embedded Payment by Business Model
Platforms
Enabler
Regulatory Entity
Embedded Payment by Distribution Model
Own Platforms
Third Party Platforms
Brazil Embedded Wealth Management Market Size and Forecast
Brazil Asset Based Finance Management Industry Market Size and Forecast
Asset Based Finance by Type of Asset
Hard Assets
Soft Assets
Asset Based Finance by End Users
SME's
Large Enterprises
For more information about this report visit https://www.researchandmarkets.com/r/y08fbj
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