Fintech News Funding Alert

Mexican fintech firm Plata raises $250 million in new funding, achieves $3.1 billion valuation

• ByStartupStory     |    November 2, 2025

Mexican fintech firm Plata raises $250 million in new funding, achieves $3.1 billion valuation

Plata, the Mexico-based digital financial platform, has announced the completion of a $250 million funding round, doubling its valuation to $3.1 billion. The financing combines a primary equity raise (Series B) and a secondary equity transaction. The round was led by Kora, along with participation from Moore Strategic Ventures, Audeo Ventures, Spice Expeditions, Hedosophia, and several U.S. and European family offices, expanding on an earlier investment by Televisa-Univision.

Founded by former Tinkoff executives, Plata aims to become a fully licensed bank in Mexico, having secured its banking license in December 2024 and awaiting authorization to begin full operations. The firm touts its proprietary technology infrastructure, including an in-house core banking system that supports a fully digital, branchless banking model with automated risk management and 24/7 personalized customer service.

Over the past 30 months, Plata has surpassed two million active credit customers, making it one of the fastest-growing digital financial platforms in Latin America. Its Plata Card offers users flexible, interest-free credit for two months and up to 15% cashback in real money, targeting the underbanked majority in Mexico.

CEO and Co-Founder Neri Tollardo emphasized that the funding round reflects investor confidence in Plata’s strategy, technology, and leadership team. The firm aims to expand its product offerings and deepen financial inclusion across Mexico’s rapidly evolving digital banking landscape.

Kora Co-Founder Nitin Saigal added that Plata represents a new standard for digital banking in emerging markets through its impressive execution and vision for financial inclusion. The company expects to capitalize on Mexico’s growing fintech ecosystem, driven by government support and increasing consumer adoption of digital financial services.

This funding milestone positions Plata as a key player disrupting Mexico’s traditional banking sector while enabling greater access to credit and financial services among underserved communities.

In summary, Plata’s $250 million raise at a $3.1 billion valuation marks a significant step in its journey to becoming Mexico’s leading digital bank, combining innovative technology with a clear mission to expand financial inclusion across Latin America.

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