- Funding Secured: Mexican fintech unicorn Stori has secured $212 million in a combination of equity and debt financing.
- Equity Financing: $105 million led by Notable Capital and BAI Capital, with participation from General Catalyst, Goodwater, Tresalia Capital, GIC, Lightspeed Ventures, and ACE Redpoint Ventures.
- Debt Financing: $107 million led by Goldman Sachs and Davidson Kempner Capital Management LP.
- Use of Funds:
- Equity Portion: Funds will be used to upgrade Stori’s technology and expand its product suite, potentially adding deposits and personal loans.
- Debt Portion: Funds will be allocated for lending activities.
- Expansion Plans: Stori plans to expand further into Latin America, with an announcement about its next country of entry expected soon.
- Valuation: The latest funding round was conducted at a higher valuation than Stori’s previous round in 2022, when it achieved unicorn status with a valuation of $1.2 billion.
- Mission: Founded in 2019, Stori aims to democratize credit access for 400 million underbanked consumers in Latin America through its mobile app offering savings accounts, credit cards, and other digital financial products.
- New Appointment: Diego Cabrera Canay, former CFO of Uruguayan paytech dLocal, has been appointed as Stori’s new group CFO.
Mexico’s Stori lands $212m in mix of equity and debt financing
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