Banco Plata Expands Financing Line by $300 Million
Hey Digital Banking Fanatic!
Quick question: when was the last time you heard Oaktree and Macquarie backing a neobank that's barely three years old?
Because that just happened in Mexico, and it deserves more than a scroll-past.
Banco Plata closed $300M through a Nomura-led facility this week, and the lender list reads more like a sovereign wealth fund dinner party than a typical FinTech funding round.
"These are some of the most sophisticated institutional lenders globally, and their commitment to our platform reflects the funding structure we are building," said Marcos Kantt, Finance Director of Plata.
This is what happens when you launch full banking ops, hit 4 million active customers, and build your own core banking stack without buying off-the-shelf software.
👇Keep scrolling to find the other news that are shaking the digital banking landscape all around the world. See you tomorrow!
Cheers,
HOW DIGITAL BANKING PERFORMED LAST WEEK
📈 A snapshot of last week’s stock moves across Digital banking:
NEWS
🇲🇽 Banco Plata has expanded its financing line by $300 million to strengthen its funding base and support growth in Mexico. The additional funding follows a $500 million credit facility secured last year and is backed by institutional investors including Oaktree, Macquarie Group, Fasanara Capital, and Banco Covalto.
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🇬🇧 Revolut is considering a secondary share sale that could value the digital bank at $115 billion, according to people familiar with the matter. The transaction would provide liquidity for early investors and employees and could begin as soon as this month. Keep reading
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