Mexican digital bank Plata, a rapidly growing FinTech company, has achieved unicorn status following a $160m in its Series A funding round.
The tranche has seen its valuation skyrocket to $1.5bn, according to Finextra.
. The investment was led by Kora and included participation from Moore Strategic Ventures, among other backers.
The Mexico City-based digital bank was founded by international banking executives, including Neri Tollardo and Danil Anisimov.
Since its launch, the company has scaled rapidly, amassing over one million active credit card users. In December, it received authorisation for a full banking licence, further strengthening its position in the market.
The fresh capital will be used to enhance Plata’s technological infrastructure, expand its product offerings, and solidify its presence in Mexico’s competitive digital banking landscape. The company has focused on developing its own core banking system, with 40% of its 1,500 employees specialising in STEM fields to drive innovation.
Plata is competing in Mexico’s fast-growing digital banking sector, alongside local firm Bineo, Brazil’s Nubank, Argentina’s Uala, and Spain’s Santander, which operates through its Openbank platform.
Plata CEO Neri Tollardo said, “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. Our products have been met with incredible enthusiasm, and we couldn’t be more thrilled.”
Keep up with all the latest FinTech news here
Copyright © 2025 FinTech Global
