Mexican Unicorn Clip, known for its mobile point-of-sale (POS) terminals for SMB merchants, recently raised a $100 million funding round to expand its offerings, including a digital wallet and an enhanced POS system for larger businesses.
“Five years ago, every bank had a terminal offering that competed with us, today none of them do. It’s very hard to reach SME with competitive pricing. We’ve succeeded,” said Juan José Galnares, Clip’s President.
Founded in 2012, Clip focuses on expanding electronic payments through solutions like digital wallets, contactless payments, and tools that simplify transaction management for businesses.
By the end of 2022, non-bank aggregators such as Clip, Mercado Pago, and PayPal accounted for 74% of payment terminals in Mexico, highlighting the increasing demand for card and digital payments among businesses.
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