MEXICO DOMINICAN 25.6% REPUBLIC HONDURAS 0.3% GUATEMALA 0.1% 0.4% VENEZUELA 0.6% NICARAGUA 0.1% OTHERS 1.6% COSTA RICA COLOMBIA 0.7% 11.9% BRAZIL 32.7% PANAMA ECUADOR 0.1% 1.8% PARAGUAY 0.7% PERU 2.3% URUGUAY PICTURE 1 1.7% Distribution per country of Latin American FinTechs CHILE Source: Finnovista, Inter-American 9.2% ARGENTINA Development Bank, 2017 10.2% A TWO-WAY PATH 11