Stori is Mexico’s latest unicorn after $150m raise

Recently, Stori, a rapidly expanding FinTech firm that provides credit card products to Mexico’s underprivileged population, announced the completion of its most recent round of financing, valued at $150 million ($1.2 billion). Stori has now joined a small club of Mexican-based businesses that have attained “unicorn” status as a result of this most recent round of funding.

Just nine months after obtaining one of the largest Series C rounds in Latin America, Stori announced its most recent Series C-2 investment. Along with participation from other current and new investors, such as Lightspeed Venture Partners, General Catalyst, Vision Plus Capital, Goodwater Capital, Tresalia Capital, and Davidson Kempner Capital Management LP, it includes a $50 million equity investment from BAI Capital, GIC, and GGV Capital. Additionally, the company received a $100 million loan facility from Davidson Kempner.

Stori, which was established in 2018, provides credit card solutions to disadvantaged demographics. Stori, which has more than 1.4 million clients in Mexico, gives every consumer the opportunity to get a credit card and establish a credit history without having to fill out a tonne of paperwork, have a credit history, or pay an annual fee. The Stori mobile app facilitates the whole user experience, from card application to bill payment.