🇲🇽 Mexico’s FinTech Boom: Plata Raises $250M, Nubank Hits 13M Users
Hey Digital Banking Fanatic!
Mexico is on fire right now 🔥 — at least when it comes to FinTech.
Plata just raised $250M at a $3.1B valuation, as the fast-growing startup (led by ex-Tinkoff exec Neri Tollardo) gears up to become a fully licensed bank.
From 100 employees to 3,000 in just two years, Plata’s next step is expanding from credit cards into payroll and debit — all backed by investors like Kora, Moore Strategic Ventures, and TelevisaUnivision.
And it’s not alone. Klar ($190M), Felix Pago ($75M), Ualá ($66M), and Addi ($50M) are all raising big.
Meanwhile, Revolut, Nubank, and Klar are now entering the next phase: becoming real banks in Mexico.
Speaking of Nubank — they just crossed 13 million customers in Mexico 🇲🇽.
That’s 14% of all adults and nearly a quarter of the banked population.
Even more impressive:
👉 78% live outside major cities
👉 60%+ come from low or lower-middle-income households
👉 Nearly half are women
What started as digital banking is now driving financial inclusion at scale.
💬 “Digitalization is erasing the boundaries of Mexico’s financial system,” says Daniel Rojas, Director of Growth & Marketing at Nu México.
Hard to argue with that.
And if you’re in Mexico City, here’s a quick heads-up: our next FinTech Running Club run is happening on November 8th.
Lace up and join the best FinTech networking event in town 🏃♂️🇲🇽
Cheers,
Want your message in front of 275.000+ FinTech fanatics, founders, investors, and operators?
NEWS
🇲🇽 Nu México surpasses 13 million customers, driving financial inclusion beyond major cities. With this new customer base, the company reaches around 14% of the adult population and approximately 23% of all banked individuals, consolidating its position as the leading digital player in expanding financial access in the country.
🇲🇽 Mexico’s Plata raises $250 million at $3.1 billion valuation. The FinTech seeks to expand its business and transition into a full-fledged bank. The company received approval for a banking license from the country’s regulators in December 2024 and is now in the final stage of audits before starting operations.
🇧🇷 Mercado Pago announces AI-powered financial assistant. The service will be able to personalize interactions, suggesting budget organization and creating piggy banks based on the customer's spending profile and goals, according to the company. The Personal Assistant is initially available to customers in Brazil, but will soon be rolled out to all Mercado Pago locations.
🇨🇭 Alpian reports milestone in customer growth. This segment generally refers to clients with investable liquid assets between around USD 100'000 and 1 million, as well as above-average household income. Currently, the bank reports a customer retention rate above 90% and a growing share of new clients acquired through referrals.
🇬🇧 Revolut Secures $3B at $75B Valuation. The fundraiser, which will likely hand the FinTech fresh cash in addition to giving some of its early backers and employees liquidity, will help the company as it seeks to enter dozens of new markets in the coming years.
🇬🇧 Revolut launches joint savings accounts as demand for shared money tools soars. The launch comes as Revolut research highlights a shift towards financial openness in relationships. Nearly three-quarters (71%) of Brits feel comfortable discussing money with their partner, while two in five (39%) believe joint accounts are the best way to manage shared expenses.
🇺🇸 Tria raises $12M to be the leading self-custodial neobank and payments infrastructure for humans and AI. As part of its commitment to build with the community, not just for it, Tria is said to be preparing a public allocation round. The offering would give users a chance to own a stake in the neobank they use.
🇦🇺 Thredd powers ANNA Money’s super-app business account in Australia. The collaboration delivers instant virtual cards and physical commercial debit cards, with the platform engineered for secure wallet support, so customers can add cards to leading mobile wallets (when available), all backed by Thredd’s real-time authorisation and settlement.
🇦🇪 Sygnum Bank announced the launch of Sygnum Validators, a new service launched from Abu Dhabi Global Market (ADGM), which includes operating institutional-grade validator nodes for select blockchain networks that enable non-custodial staking.
🇮🇹 Enable Banking and A-Tono join forces to expand open banking infrastructure in Italy. The collaboration will see A-Tono’s digital payments platform DropPay integrate Enable Banking’s PSD2-compliant infrastructure, allowing users to access Account Information Services (AIS) and Payment Initiation Services (PIS) directly within their accounts.
Want your message in front of 100.000+ Digital Banking fanatics, founders, investors, and operators?
Shoot me a message on LinkedIn or send me an e-mail.
