Stori completes $150 million in Series C2 financing

Recently, Stori, a Mexican financial technology company, announced the completion of the latest round of financing of 150 million US dollars. This round of financing will be used for team recruitment and will continue to expand its product range to other financial services beyond credit cards. In addition, Stori also plans to expand its business to the entire Latin American market to further serve more than 100 million target customers in need.

In this round of financing, in addition to the $50 million equity investment from BAI Capital, GIC and GGV Capital, investors also included Lightspeed Venture Partners, General Catalyst, Yuanjing Capital, Goodwater Capital, Tresalia Capital and Davidson Kempner Capital Management LP . In addition, Davidson Kempner arranged $100 million in debt financing for the company.

Yuanjing once led the investment in Stori’s A round of financing, and continued to increase its investment in each subsequent round. Just nine months ago, Stori completed the largest Series C financing in Latin America. At present, Stori is valued at US$1.2 billion, making it a new unicorn in Mexico.

Founded in 2018, Stori has more than 1.4 million customers in Mexico and is dedicated to providing credit cards and credit history building services to those in need. Stori’s main credit card products with no annual fee, users do not need to submit complex application materials offline, nor do they need past credit records when opening an account. As an emerging digital bank, Stori’s APP products include credit card application, consumption payment and bill inquiry, etc. Full functionality.

Bin, CEO and co-founder of Stori, said: “There are still millions of people who are not served by traditional financial institutions, and this new round of investment is an important milestone for us as we move towards improving the lives of these people. Our vision is one step closer.” He said, “By addressing key customer pain points through a fast, mobile experience, we are committed to democratizing credit, making our customers’ lives easier, and playing an important role in fueling economic growth across Latin America. effect.”

Stori is one of the few Mexican startups currently on the unicorn ranks, with regulatory communications head and co-founder Marlene Garayzar becoming the first woman in Mexico to launch a unicorn fintech startup in the country.

“We are proud to bring financial inclusion to more than 1.4 million customers in Mexico. This important milestone would not have been possible without our amazing teams in Mexico, the US and Asia, and all the customers who support our brands and products. “We strongly believe that everyone should have access to credit and other financial instruments,” Marlene said.