Mexican fintech Stori raises $212 million

Mexican fintech unicorn Stori has raised $212 million in equity and debt financing.

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Mexican fintech Stori raises $212 million

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The round includes US$105 million in equity led by Notable Capital and BAI with participation from new and existing investors ACE Redpoint Ventures, GIC, General Catalyst, Goodwater, Lightspeed Ventures, and Tresalia, and US$107 million in new debt financing provided by Goldman Sachs and Davidson Kempner Capital Management LP.

Stori is trageting Mexico's underserved population offering credit cards and deposit accounts to its three million customer base.

Marlene Garayzar, CGO and Co-founder of Stori, says: "This investment will enable us to continue developing innovative solutions, through technology, that promote financial inclusion and education."

In 2020, Stori launched its first credit card product to customers overlooked by the traditional banking system. In October 2023, following the approval of its Sofipo regulatory license, the company rolled out Stori Cuenta+, a deposit account offering a market-leading yield.

The company reached unicorn status in 2022 when a $50 million equity funding round raised its valuation to $1.2 billion.

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