Fintech Klar raises $70M for digital banking services

Klar, a Mexican fintech, raised a $70M Series B funding round led by General Atlantic with participation from Prosus, Quona, IFC, and Mouro Capital. Mexico’s regulatory body COFECE and the CNBV are still approve the total funding amount.

Klar provides premium, digital banking solutions to underbanked Mexicans. The platform currently serves 1.2 million customers, and aims to reach 3 million by the end of the year.

“We want Klar to be a platform that gives customers greater ability to manage their finances online in an ever more digital market. In particular, we are supporting those who are overlooked by the traditional banking systems,” said Stefan Moller, founder of Klar.

The fintech announced the round last year, although did not disclose the total amount raised.

The startup is focusing on increasing its product offering and also international expansion following interest from markets such as Germany.

“We are working to develop our technology and strengthen our engineering skills to further democratise access to financial products for Mexicans,” said Moller. 

Read more on Forbes.

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