Mexican digital financial platform Plata has raised USD 250 million in new equity financing, bringing its valuation to USD 3.1 billion. The funding round combines a primary Series B raise and a secondary equity transaction, led by Kora with participation from Moore Strategic Ventures, Audeo Ventures, Spice Expeditions, Hedosophia, several US and European family offices, and builds upon a previous investment from Televisa-Univision.
The company obtained a banking licence in December 2024 and is awaiting final authorisation to begin operations. Plata said the latest capital will be used to expand its financial services offering in Mexico, a market where more than 60% of adults still lack access to formal credit, according to the National Institute of Statistics and Geography, cited in the official press release.
Expanding reach in Mexico’s underbanked market
Since launching just over two years ago, Plata has reported more than two million active credit customers. The company has positioned itself within Mexico’s growing fintech sector as a digital-only institution designed to operate without physical branches. Its proprietary core banking system, developed internally, supports automated risk management and customer service available around the clock.
Officials from Plata said the funding round highlights investor confidence in the firm’s approach to developing a technology-driven financial platform built on compliance and operational efficiency. They noted that the company’s long-term objective is to establish a sustainable digital bank aligned with regulatory standards set by the Bank of Mexico and the Comisión Nacional Bancaria y de Valores (CNBV).
Representatives from Kora commented that their investment reflects the potential for digital banking to promote financial inclusion in emerging markets. They said Plata’s ability to scale quickly and build a strong operational base has encouraged continued support from existing investors.
With more than USD 1 billion in total capital deployed in Mexico to date, much of it from international backers, Plata’s growth reflects rising foreign interest in the country’s financial services sector.
