Mexican Challenger Bank albo Raises $19M in Series A Funding

alboalbo, a Mexico City-based challenger bank, closed an extension of its Series A funding round for $19m.

The round, which now totals $26M, was led by Valar Ventures with participation from Greyhound Capital, Mountain Nazca and Flourish Ventures.

The company intends to use the funds for the expansion of its products and talent.

Led by Ángel Sahagún, CEO and founder, albo is the challenger bank without commissions operating through a MasterCard debit card and an app to receive, transfer and spend their money. Users can open their account from the app quickly and receive their card at the address of their choice days later, once activated they can use it in shops and make purchases online as well as start tracking their movements in real time.



Join the discussion