Mexico-based Stori raises $125M in Series C round
Mexico-based fintech Stori has raised $125 million in its Series C round led by GGV Capital and GIC. The round also saw participation from General Catalyst, Goodwater Capital, Tresalia Capital, Lightspeed Venture Partners, Vision Plus Capital, BAI Capital and Source Code Capital.
The company plans to use the capital raised for expansion and developing its product offerings further.
Stori CEO Bin Chen stated, “Our mission – empowering financial inclusion for millions of hard-working people – is amazingly meaningful and challenging at the same time. We are progressing at an unprecedented pace by combining technology, machine learning, data-driven underwriting and an intuitive mobile-based user experience. A lot more will come in our journey to become a top consumer financial franchise in Latin America.”
The startup is focused on building a digital banking platform and currently issues credit cards, targeting its focus on Mexico’s emerging middle-class. Presently, over two million Mexican individuals have applied for a Stori credit card.
Follow Startup Story
Related Posts
