The startup, which launched in April 2023 with an initial focus on providing cards, payments and banking services to Mexico’s unbanked, is now valued at $3.1bn.
,The series B investment was led by venture capital firms Kora Management, Moore Capital Management, and TelevisaUnivision, with additional participation from Audeo Ventures.
,According to Plata, the funds will be used to finance a full-scale launch as a bank. The fintech secured approval for a full banking licence in December 2024.
,The latest fundraising round comes after a series A round in march raised $160m. The startup has raised more than $1m to date through a combination of combined debt and equity financing.
