Mexican BNPL fintech Aplazo raised a $45M Series B led by QED Investors. Volpe Capital, Oak HC/FT, Kaszek, and Picus Capital also participated. This round follows their $27M Series A in November 2021, totaling $100M in equity and $75M in debt raised to date.
Aplazo will invest the funds to improve its product offerings, focusing on leveraging artificial intelligence, enhancing customer experience, and expanding its market reach.
“We are incredibly excited to partner with Aplazo on the journey to become the preferred payment solution in Mexico. The company has made great progress in recent years, including delivering sustainable unit economics with a laser focus on the customer experience. Angel and Alex have surrounded themselves with a world-class team that we believe is just scratching the surface on the consumer and merchant payments opportunity in Mexico,” said Mike Packer, partner at QED Investors.
Aplazo is a payment platform that allows merchants to offer installment payment plans to customers and offers a suite of marketing and AI tools designed to eliminate drop-off points in ecommerce.
“Our ability to offer ubiquitous BNPL services allows 88% of the Mexicans that don’t have credit cards to make every-day purchases and pay them later in installments in a simple to understand way, which resonates well with the underserved Mexican population,” said Angel Peña, CEO and co-founder of Aplazo.
Founded in 2020, Aplazo reported growing its revenue by 3x leading up to the round, and its payment solutions are accepted by brands like Steve Madden, American Eagle, Levi’s, and Vans.