Stori, a Mexico City-based credit card-led fintech company, closed a $200m equity and debt financing.
The financing included:
- a $125m Series C round co-led by global VC GGV Capital and growth-stage investor GIC, which were joined by General Catalyst, Goodwater Capital, Tresalia Capital, Lightspeed Venture Partners, Vision Plus Capital, BAI Capital and Source Code Capital, and
- $75M in debt financing from impact-focused, debt capital provider Community Investment Management.
Co-founded by Bin Chen and Marlene Garayzar, Stori is a digital financial service provider currently focused on expanding access to credit cards for mass-middle and emerging-middle income populations. In the 8 months since its Series B in February 2021, the company has become a top issuer of new credit cards in Mexico. More than 2 million Mexicans have applied for a credit card, and that number has grown by more than 10 times in the last twelve months.
Over the next year, the company is committed to investing the $200M raised in Mexico to triple in size and broaden its suite of products.
Stori has a global team, with offices in Washington DC, Mexico and Asia, and plans to expand its team, doubling down on training and development opportunities, while building a sustainable infrastructure across all teams.