Mexican payments and commerce firm Clip has successfully raised $100 million in a financing round supported by funds managed by Morgan Stanley Tactical Value and an undisclosed fund manager.
Founded in 2012 by two former PayPal employees as Mexico’s answer to Square, Clip has developed a range of tailored payments, financial services, and software solutions for small businesses. The company’s offerings encompass both software and hardware, enabling SMEs to grow by accepting digital payments, selling online, securing credit, and streamlining operations.
With approximately 800 employees and nearing profitability, Clip plans to use the new funding to accelerate its product development initiatives. CEO Adolfo Babatz stated, “We are excited to leverage this financing round to continue to expand and strengthen our offerings to empower more stakeholders across Mexico’s economy.”