Mexican digital bank Plata has completed its Series A equity round, securing a valuation of $1.5 billion. The round raised $160 million and was led by investment firm Kora, alongside Moore Strategic Ventures and other U.S. and European investors, subject to regulatory approvals. Since its inception, Plata has accumulated $750 million in debt and equity funding to support its expansion in Mexico. The company recently obtained its banking license in December 2024 and has surpassed one million active credit card users. Plata operates exclusively through a digital platform, aiming to simplify financial services with its proprietary core banking system, eliminating the need for physical branches.
With this investment, Plata strengthens its presence in Mexico’s financial sector and continues its strategy of digitalization. Co-founder and CEO Neri Tollardo highlighted the company’s focus on accessible financial technology and strong customer service, ensuring efficient support without traditional phone menus. Plata has also secured major capital market transactions, including a $200 million warehouse facility from Fasanara Capital and a $55 million senior unsecured bond. Since launching in April 2023, Plata has grown to over 1,500 employees, nearly 40 percent of whom are STEM professionals, reinforcing its commitment to internal technological development.
