The Rise of Fintech in Latin America: Spotlight on Women Leaders

The Latin American region is emerging as a vibrant hub for economic development, particularly in the fintech sector. With a unique blend of innovation, entrepreneurship, and thought leadership, the region is making significant strides in financial technology. As The Fintech Times celebrates Women in Fintech this September, we take a closer look at the contributions of female leaders, including the remarkable Monica Saccarelli from São Paulo, who is making waves in micro-investment.

Monica Saccarelli: A Trailblazer in Fintech

Monica Saccarelli is a prominent figure in the financial market, known for her expertise in fintech and micro-investment. Her career began at Bovespa, Brazil’s main stock exchange, and she has since held key positions at various companies, including AT&T Broadband in San Francisco, Concórdia Corretora de Valores, and Link Investimentos. At Link, she served as General Retail Manager until the inception of Rico, where she took on the role of director.

At just 30 years old, Monica founded Rico, an investment brokerage aimed at individual investors. Under her leadership, Rico quickly became a major player in the sector, attracting the attention of XP Investimentos, which acquired the company in 2017. This acquisition paved the way for the launch of Grão in 2019, a groundbreaking fintech focused on micro-investment.

Navigating Challenges in a Male-Dominated Industry

As a recognized thought leader in a predominantly male industry, Monica has faced numerous challenges throughout her career. "The financial market and entrepreneurship are dominated by men," she notes. "It is very challenging, but we need to continue to conquer our space and know how to deal with it on a daily basis." Her resilience and determination serve as an inspiration for many aspiring female entrepreneurs.

The Future of Fintech in Latin America

Monica is optimistic about the future of fintech in Latin America, particularly with the advent of advanced technologies like Pix and Open Banking. These innovations have shifted the focus toward fintech solutions, making financial services more accessible to the masses.

In 2019, Grão was launched as the first fintech in Brazil to facilitate micro-investment, allowing users to invest from as little as R$1. The platform aims to instill a savings habit among Brazilians, encouraging them to build a financial reserve and reduce debt. This initiative is particularly significant in a region where financial literacy and access to investment opportunities have historically been limited.

Empowering Users Through Financial Tools

Grão offers users a financial organizer that categorizes expenses and provides insights into potential savings. The app also includes behavioral tips to help users make better financial decisions. For those looking for a challenge, Grão has developed two savings challenges—7 and 21 days—designed to help users cultivate a habit of saving small amounts over time.

In April, Grão introduced a new feature allowing users to pay bills, bank slips, and mobile credits directly through the app using their invested funds. This innovation is particularly timely, as many users face financial uncertainty and may need to access their savings for essential expenses. Monica emphasizes the importance of supporting users during these challenging times, stating, "We want to give full support in this moment of uncertainty and help to use the financial reserve well."

Advice for Future Female Entrepreneurs

Monica’s journey serves as a beacon for aspiring female entrepreneurs in Latin America. Her advice is simple yet powerful: "Persist in your dream. It is good this feminine humility; it is a highlight among us. We can share leadership when needed, but we must not underestimate our ability, because we have strength and leadership."

Inspired by American fintechs and their research in Brazil, Grão has created a user-friendly platform that appeals to a diverse range of users eager to save money for their goals. Monica’s vision is clear: even in times of financial hardship, the message remains the same—investing is crucial for long-term financial health.

Through her leadership and innovative spirit, Monica Saccarelli exemplifies the potential of women in fintech and the broader economic landscape of Latin America. As the region continues to evolve, the contributions of female leaders like Monica will undoubtedly play a pivotal role in shaping its future.