Mexico-based fintech Plata just raised $250 million in an equity funding round, pushing its valuation to $3.1 billion as it prepares to become a fully licensed bank. Earlier, we reported that Plata aimed for $3.3B valuation.
Leading investors include Kora, Moore Strategic Ventures LLC, and TelevisaUnivision. This follows a $160 million raise earlier in 2025, establishing Plata as one of Latin America’s most heavily funded fintechs this year.
After securing regulatory approval for a full banking license in December 2024, Plata is now finishing final audits ahead of launching comprehensive banking services, which will extend beyond credit cards to payroll access, debit accounts, SME lending, and cross-border financial products.
Founded in 2023 by Neri Tollardo (CEO) and Danil Anisimov, Plata was created to democratise financial services for Mexico’s largely underbanked population. Leveraging a proprietary AI-powered, cloud-native core banking infrastructure, Plata offers flexible and transparent credit products tailored for this market. Its flagship Plata Card delivers perks like up to 5% cashback and a 60-day payment window, setting it apart from regional rivals Nubank, Ualá, and Klar.
Since launching operations in April 2023, Plata has grown from a small team of 100 to more than 3,000 employees, including a large share of STEM talent building its in-house banking technology. The fintech has rapidly scaled to over two million active users, issuing about 10% of all new credit cards in Mexico, reflecting its operational maturity and strong market traction.
With nearly $750 million raised in combined equity and debt since inception and plans to expand across Latin America, including Colombia, Plata aims to position itself as the region’s next major digital banking player, reshaping financial services access for millions of underserved customers and intensifying competition in LATAM’s rapidly evolving fintech landscape.
