Plata Doubles Its Valuation to $3.1 Billion Following a $250 Million Equity Round

Plata, the Mexican digital financial platform that obtained its banking license in December 2024 and awaits the authorization to begin banking operations(1), announced the completion of $250 million in new equity investment, which brings Plata’s valuation to $3.1 billion.

The transaction consists of a mix of a primary equity raise (the “Series B”) and a secondary equity transaction. This round was led by Kora with participation from Moore Strategic Ventures, Audeo Ventures, Spice Expeditions, Hedosophia, several U.S. and European family offices, and builds on an earlier investment by Televisa-Univision.

With more than $1 billion invested in Mexico, much of it backed by international capital, Plata now serves as a key bridge connecting global capital to Mexico’s vibrant financial ecosystem. With this new equity round, Plata will continue to capitalize on a strong market backdrop and a rapidly expanding, yet underserved, financial services landscape in Mexico, where more than 60% of the adult population doesn’t have access to credit(2). Reflecting this growth potential, Plata has surpassed two million active credit customers in less than 30 months, solidifying its position as the fastest-growing digital financial platform in Latin America.

“The growth we have achieved in such a short time demonstrates a clear strategy and a shared conviction: build a strong institution from its foundations. This transaction reflects investors’ confidence, the strength of our technological model, and the talent we have assembled. We set out to create a digital bank built on innovation, operational excellence, compliance, and efficiency—and today, we are seeing the results of that effort,” said Neri Tollardo, Co-Founder and CEO of Plata.

“We believe Plata represents the new standard for digital banking in emerging markets,” said Nitin Saigal, Co-Founder of Kora. “In a very short time, the company has demonstrated impressive execution, combining technological innovation with a clear vision for financial inclusion. We are excited to continue strengthening our partnership and to support Plata in this new phase of growth.”

Since its founding, Plata has developed its own technological and operational infrastructure. The core banking system, designed by its in-house engineering team, enables a fully digital model—without branches—featuring automated risk management and 24/7 personalized customer service. This structure was built from the outset to fully comply with the requirements established by local regulators, including the Central Bank of Mexico and the Comisión Nacional Bancaria y de Valores (CNBV). The company continues its regulatory process to obtain formal approval to begin banking operations, and with that, to expand its range of products within a robust framework of control and security.

(1) Plata received its banking license in December 2024 and is currently awaiting approval to start operations as a bank.
(2) Instituto Nacional de Estadística y Geografía, Encuesta Nacional de Inclusión Financiera (2024).