Mexico-based fintech Klar has signed an agreement to acquire Bineo, a digital bank owned by Grupo Financiero Banorte.
The initiative, which involves the purchase of all shares of Bineo, was facilitated through Klar’s subsidiary Clearscope Holdings, and it represents a significant step in the fintech’s mission to secure a banking licence. Banrote’s decision to sell the digital bank comes two years after Bineo’s inception. The acquisition is still pending regulatory approval, and the monetary details of the deal have not been disclosed.
More about Klar’s licence journey
During H2 2025, Bineo allegedly lost USD 12 million, becoming the only Benorte subsidiary to report negative earnings. The digital bank is fully licensed and offers a range of financial services, such as personal loans, remittances, deposit accounts, and savings solutions.
Klar currently provides credit cards and solutions for SMEs in Mexico. The company applied for its own banking licence in December 2024. However, the process of obtaining it was regarded as rigorous, including several stages such as filing a document with the authorities, detailed assessments, operational reviews, and authorisation to begin operations as a regulated bank.
In June, Klar raised USD 190 million through a founding round, receiving USD 170 million in equity and USD 20 million in debt. The initiative, led by General Atlantic with participation from new and existing investors, valued the company at more than USD 800 million. Among the new equity investors were Grupo Santander, DEG, Grupo Televisa, Grupo Fórmula, and Citius, joining existing stakeholders such as Prosus, IFC, Mouro Capital, and Quona Capital. In addition to the funding, Klar reports approaching an annual revenue of USD 300 million, with revenue per employee surpassing USD 1 million annually.
The company aims to keep operating domestically, focusing on its market presence, accelerating product development, and unlocking growth opportunities to contribute to a more inclusive financial landscape.
