Mexican fintech Stori raises $150 million, becomes a unicorn

Stori, a fintech startup offering credit cards to underserved communities in Mexico has raised $150 million in its Series C-2 funding round, in a mixture of equity and debt financing at a $1.2 billion valuation.

• The fund will be invested in expanding its employee base and spreading its operations across the Spanish-speaking parts of Latin America, the startup claims
• BAI Capital, GIC, and GGC Capital co-led the equity financing, alongside participation from Lightspeed Venture Partners, General Catalyst, Vision Plus Capital and others, while Davidson Kempner provided the debt funding.
• Founded in 2020, the credit card offering startup 20x its revenue growth in 2021 and has reached 1.4 million customers in Mexico, with a goal to reach 100 million underserved people in the region with its offerings.
• It last raised $125 million in equity and $75 million in debt financing in 2021.