Mexican fintech unicorn Stori launched in Colombia, its first expansion outside of Mexico. The fintech plans to invest over $100M in Colombia over the next 3 years. Earlier in August 2024, Stori raised a $212M round.
Stori’s first product in Colombia is the Tarjeta S, a credit card offering credit lines starting at $50, even for customers with no prior credit history.
“The Colombian market is similar to Mexico in terms of credit needs, as more than 23M people do not have access to formal credit. We saw a great opportunity to serve a market with high potential,” said Carlos Ayalde, Stori’s General Manager in Colombia.
Founded in 2019 and reaching unicorn status in 2022, Stori provides financial services to the underserved population who don’t have access to traditional banks, helping them build credit history.
Read more on LatamFintech Hub.