The market in Latin America is growing faster than ever, with new venture capital deals nearly doubling to 488 between 2017 and 2020, according to Bloomberg. Beyond VC, a study by IDB lab revealed that the tech-enabled startup market hit a valuation of more than $220 billion USD in 2020.
Globally, the pandemic has accelerated digital road maps across industries and businesses now have to respond to changes in digital expectations and buying patterns.
Partnering with CLM on distribution in Latin America (LATAM) extends Auth0’s reach into Brazil, Colombia, Ecuador, and Peru.
Over the years of working within Latin America, we’ve learned that identity expertise and scalability are two critical areas of concern for businesses in the region. You can check out our earlier posts in this series for details, but here, we wanted to look more closely at how we were able to help two companies within the region.
Fintech leader Naranja has been providing credit cards to the Argentinian market for over 30 years. In that time, they’ve grown to cover over 5 million customers by keeping those customers’ needs their top priority. As they grew, Naranja also began to integrate additional verticals into their business model. Pretty soon, they were offering payment services, financing, travel, media, and other services beyond their credit card programs.
As they added these verticals, Naranja’s head of engineering Javier Voos soon realized they would need to consolidate their identity solution to cover all aspects of their growing ecosystem. He knew that in order to continue putting the customer experience first, they would need to find the right IDaaS provider that would be able to scale along with their planned expansion.