Mexican FinTech unicorn, Clip, has announced it has secured an investment round of $100m.
The funding comes from investment funds managed by Morgan Stanley Tactical Value (MSTV) and a prominent West-Coast mutual fund manager.
Clip, founded in 2012, is Mexico’s leading digital payments and commerce enablement platform, catering primarily to small and mid-sized businesses (SMBs). The company provides a comprehensive range of software and hardware solutions, facilitating digital payments, online sales, credit access, and operational simplification for SMBs.
The new funds will be used by Clip to accelerate product development initiatives, furthering its mission to drive financial inclusion in Mexico through innovative technology solutions.
Clip founder and CEO Adolfo Babatz said, “The investment from these two globally renowned investors is a testament to Clip’s opportunity to continue to lead the digital transformation of Mexico’s commerce ecosystem, and more broadly, provides even further validation of our mission to open access to digital payments, financial services and technology solutions to all SMBs in the country.
“We are excited to leverage this financing round to continue to expand and strengthen our offerings to empower more stakeholders across Mexico’s economy.”
Pedro Teixeira, managing director and co-head of MSTV, expressed his enthusiasm, saying, “We are excited to begin our partnership with Clip after following the company for several years. Clip is a pioneer in leveraging new technologies to drive financial inclusion in Mexico. We are delighted to partner with Adolfo and the Clip team to support the rapid, strategic growth of the business. Clip has a deeply experienced and passionate management team, a unique culture focused on delivering a differentiated customer experience, and a strong track record of performance. We look forward to its continued momentum in democratizing payments.”
Clip’s new investors, MSTV and the West-Coast mutual fund manager, join an impressive list of backers, including General Atlantic, Ribbit Capital, Goldman Sachs, Softbank Latin America Fund, Viking Global Investors, Dalus Capital, Banorte, Televisa, Visa, Amex Ventures, Angel Ventures Mexico, and Endeavor Catalyst.
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