Stori Becomes Mexico’s Latest Fintech Unicorn Following Massive Funding Round

Consumer technology finance company Strike The most recent funding round ended at $ 150 million, bringing the company’s total value to $ 1.2 billion.

As a result of this latest round, Stori, which offers credit cards as a product to people in Mexico’s bank shortage, has joined a selected group of Mexican-based companies that have achieved unicorn status.

This latest Series C-2 round takes place just nine months after procuring one of the largest Series C rounds in Latin America. by capital, GIC When GGV capitalWith participation from other existing and new investors Light speed Venture partner, Universal catalyst, Vision Plus Capital, Good water capital, Tresaria capital When Davidson Kempner capital Management LP..

In addition, Davidson Kempner has granted the company a $ 100 million loan facility.

“Stori’s ability to pull this round up in times of economic uncertainty shows investors’ confidence in Stori and its mission,” he said. Annabel LongFounding partner of BAI Capital.

“Stori is distinguished from its competitors by its strong team, disciplined execution, and unparalleled ability to serve people who do not have a bank account.”

Founded in 2018, Stori offers credit cards to poorly serviced people. With over 1.4 million active clients in Mexico, Stori offers the possibility to acquire a credit card and create a credit history without the hassle of paperwork, credit history and pensions. The entire user experience, from card request to payment, is performed through the mobile application.

The Stori team is a rare combination of industry experience, dynamism, and a world-changing attitude. Local demand for these types of comprehensive financial products is clear, and the results so far are not surprising. We continue to be excited about the idea of working with the Stori team in growing in Latin America. ” Hans PaulowniaManaging partner of GGV Capital.

Resources from this latest funding round will be used to invest in team growth and expand product offerings beyond credit cards. The company also plans to expand its geographic reach in Latin America to reach 100 million underserved consumers.

“This new investment round is an important milestone and is one step closer to our vision of changing the lives of millions of people who are currently underserved by traditional financial institutions.” increase. Storage place ChenCEO and co-founder of Stori.

“A key role in democratizing credit access, making customers’ lives easier and supporting economic growth across Latin America by solving key customer issues with a simple, digital experience. I hope to fulfill. “

Stori has joined the ranks of one of the few Mexican startups to achieve unicorn status and has approached its ambitious goal of servicing 100 million customers in Latin America. Marlene GalizerCGO and co-founder will be a Mexican woman who founded the first unicorn technology startup in Mexico.

We are proud to bring financial inclusion to more than 1.4 million clients in Mexico. This important milestone is to trust our brand with great teams in Mexico, the United States and Asia. It wouldn’t have been possible without all the clients we have, “said Garayzar.

“We strongly believe that it is worth accessing credit products and other financial tools that anyone can unlock.”