Albo acquires for $20M

Fintech startup Albo acquired for $20M. The acquisition marks a significant step in expanding Albo’s financial services for SMEs, including debit accounts, financing options, and salary payment solutions.

“When a business grows, the natural thing is to expand into other verticals and offer more value to your customers. We have a long-term vision, where we want to be the largest financial entity in Mexico, and this is just the beginning”, said Ángel Sahagún, Albo’s founder.

In May 2022, Albo became a regulated financial institution after obtaining the Electronic Payment Funds Institution license. This milestone facilitated processing transactions exceeding $5B and onboarding over 2 million users onto its platform.

Read more on: El Economista

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