Throughout this funding round, the financial company aims to leverage the investment in order to kick off its operations in the region of Colombia. The USD 100 million in funding was made in the South American nation over the next three years.
In addition, Stori is set to continue to focus on meeting the needs, preferences, and demands of clients and customers in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the local industry.
According to officials from the company, Stori has already raised up to 3 million clients in the region of Mexico in the last four years. The financial institution focused on offering secure and efficient services to its users and partners, including savings accounts with 15% yields or credit cards with near-total approval rates.
The Mexican fintech also plans to launch its new `S Card` product for individuals and customers from Colombia, in September 2024. The credit limits are expected to start at USD 48.34 (COP 200.000). At the same time, Stori will also prioritise the process of expanding its suite of solutions and attracting new clients, as the company aims to sign up 500.000 new users for its card tools in its first year in the country.
Colombia currently has a huge potential for development, and Stori will prioritise the process of offering its expertise and solutions to customers who have not been served by the traditional banking sector. The fintech aims to also accelerate the overall growth of the country while optimising the experience of customers as well.
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