Plata, a Mexico-based startup founded by three former Tinkoff executives, has successfully raised $250 million.
Launched in April 2023, Plata initially focused on offering cards, payments, and banking services to the unbanked population in Mexico. The company’s current valuation stands at $3.1 billion.
The Series B investment round was led by venture capital firms Kora Management, Moore Capital Management, and TelevisaUnivision, with additional support from Audeo Ventures.
Plata plans to use the funds to execute a full-scale launch as a bank, having received approval for a full banking license in December 2024.
This latest funding round follows a Series A round in March that raised $160 million, bringing the startup’s total funding to over $1 billion through a combination of debt and equity financing.