Mexico-based challenger bank Albo secures USD 19 mln in funding round

Friday 13 December 2019 13:14 CET | News

Mexico-based challenger bank Albo has secured a USD 19 million extension to its Series A financing, according to TechCrunch.

The neobank previously raised USD 7.4 million at the beginning of 2019, bringing the company’s total Series A funding amount to USD 26.4 million.

In its current form, Albo is a Mastercard debit card and a personal finance app that allows customers to open a bank account in five minutes through a branchless experience. 

Albo says it owns the market share in Mexico with 200,000 monthly active customers who are spending and making transactions in its platform.

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Keywords: neobank, challenger bank, Albo, funding
Categories: Banking & Fintech | Payments General
Countries: Mexico
This article is part of category

Banking & Fintech