Mexican fintech Plata raised a $160M Series A round led by Kora, with participation from Moore Strategic Ventures and other undisclosed investors. The funding brings Plata’s valuation to $1.5B, following a $55M debt round in November 2024.
Plata is Mexico’s latest unicorn, following Stori, which reached the milestone in July 2022.
Plata offers credit cards, cashback, and BNPL services, expanding access to credit in Mexico’s underserved population.
Plata will use the funds to expand its financial services and scale its operations in Mexico.
“Mexico is experiencing a unique opportunity for financial innovation. A young population and increasing regulatory support are creating a strong environment for investment in banking,” said Neri Tollardo, CEO of Plata.
Founded in 2023, Plata has over 1M active credit card users, and has raised a total of $750M in debt and equity to date.
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