Plata, The Most Recently Authorized Mexican Bank, Completed Its Series A Round with a USD 1.5B Valuation
Summary
Less than two years after launch in April 2023, Platas valuation reached after receiving its banking license authorization in , surpassing one million active customers in early 2025. "I am confident that our focus on technological solutions, accessible through an intuitive and simple customer-facing app, sets a benchmark for financial services in Latin America. ""We believe financial services are a powerful driver of economic development in emerging markets and have been fortunate to partner with companies driving this change across the globe," said Nitin Saigal, Co-Founder of Kora. Even more, we are poised to be a driver of change in digitalization and financial inclusion," added TollardoAdditionally to the Series A investment, some of Platas most notable capital markets transactions completed since inception include a USD 200mln warehouse facility from Fasanara Capital, a London-based fund manager, and a USD 55mln Senior Unsecured Bond, which was the first unsecured issuance for a Mexican Non-Bank Financial Institution since 2021.Founded in Mexico City by international banking executives led by Neri Tollardo and Danil Anisimov, Plata started operations in April 2023, and since then, it has grown to a global team of over 1,500 employees, with close to 40% of them STEM professionals and responsible for the development of Platas own core banking system (infrastructure, systems, and applications), enabling faster and more efficient innovation and solution implementation. We offer instant response via chat and a direct contact phone number without any phone menus," explained Tollardo.In addition to its internal development team, Plata directly hires all of its agents who handle customer requests and its ambassadors, who deliver cards to clients homes and perform identity verification in person.Plata is a high-tech Mexican financial platform authorized with a Banking license.