Mexican fintech company Stori has successfully raised $212 million through a combination of debt and equity financing. The equity portion, amounting to $105 million, was led by Notable Capital and BAI, with participation from ACE Redpoint Ventures, GIC, General Catalyst, Goodwater, Lightspeed, and Tresalia. The debt financing of $107 million was led by Goldman Sachs and Davidson Kempner Capital Management.
Stori plans to use the newly raised funds to drive growth, introduce new products, and enhance its existing offerings.
Specializing in financial services for underserved populations, Stori helps customers who lack access to traditional financial institutions build credit histories. The company's products include a credit card with a 99% approval rate and a high-yield savings account linked to a digital wallet.
“From the beginning, we recognized an unfair gap in Mexico’s traditional financial system, which has historically served only certain sectors of the population. This investment will enable us to continue developing innovative solutions through technology, promoting financial inclusion and education,” said Marlene Garayzar, Stori’s Co-Founder and Chief Governance Officer. Founded in 2019, Stori currently serves over 3 million clients in Mexico.
