Mexico’s fast-rising fintech Plata has raised $250 million in equity funding, boosting its valuation to $3.1 billion as it prepares to become a fully licensed digital bank. The fresh round was led by Kora, Moore Strategic Ventures, and TelevisaUnivision, following an earlier $160 million raise in early 2025 that cemented Plata’s position among Latin America’s most funded fintechs this year.
The new investment underscores investor confidence in Plata’s ambition to reshape financial access in Mexico, a country where millions remain underbanked.
Plata secured regulatory approval for a full banking license in December 2024 and is now completing its final audits before launching a comprehensive suite of services. The fintech plans to go beyond its credit card offerings with payroll access, debit accounts, SME lending, and cross-border financial products, positioning itself as a one-stop digital bank for both individuals and small businesses.
Founded in 2023 by Neri Tollardo and Danil Anisimov, Plata was built with the mission to democratize financial services through technology. Its proprietary AI-powered, cloud-native core banking system enables real-time risk modeling and flexible credit products that cater to Mexico’s emerging middle class.
Plata’s flagship product, the Plata Card, has become one of the most competitive in the region, offering up to 5% cashback and a 60-day payment window — features that rival popular platforms like Nubank, Ualá, and Klar.
Since launching operations in April 2023, Plata has grown from a 100-person startup to a 3,000-strong workforce, largely composed of engineers and data scientists developing its in-house banking technology. In just over two years, the company has surpassed two million active users and now accounts for roughly 10% of all new credit cards issued in Mexico, a striking indicator of its rapid adoption and operational maturity.
With nearly $750 million raised in combined equity and debt, Plata is now gearing up for regional expansion, starting with Colombia. The company aims to establish itself as Latin America’s next major digital banking powerhouse, competing head-on with regional leaders and driving greater financial inclusion across the continent.
Plata’s rise highlights the growing investor appetite for fintechs that bridge the gap between innovation and access in emerging markets and signals a new phase of competition in Latin America’s evolving financial ecosystem.
