Mexican fintech Plata raises $160m in Series A funding round at $1.5bn valuation
Mexican fintech start-up Plata has achieved unicorn status after securing a $160 million Series A funding round at a $1.5 billon valuation.
Plata’s valuation has surged to $1.5bn
The equity round was led by New York-based investment firm Kora and further supported by Moore Strategic Ventures, along with a group of unnamed US and European investors.
Founded in 2022, Plata specialises in consumer credit products, including BNPL, cashback, and top-up services. The company offers an app for managing expenses, transferring money, and paying bills, along with a Mastercard-powered credit card which recently surpassed one million active users.
With a workforce of over 1,500 employees, Plata transitioned from a credit product provider to a fully licensed banking institution in December 2024. The fintech has developed its own core banking system and says it is “committed to operating as a fully digital bank”.
Following its latest raise, Plata has now secured a total of $750 million in debt and equity since its inception, including a $200 million warehouse facility from London-based asset manager Fasanara Capital.
Plata joins a growing list of global fintechs recently achieving unicorn status, including Swiss crypto bank Sygnum, multi-country digital bank Tyme Group, and US credit solutions start-up Aven.
