Aplazo secures USD 35.5 million credit line from BBVA Spark

With the newly obtained USD 35.5 million credit line, Aplazo intends to further advance its commitment to scaling financial access in Latin America. Additionally, the transaction underlines BBVA Spark’s allegiance to assisting emerging companies that contribute to economic development, positioning itself as a strategic partner to the entrepreneurial ecosystem.

The financing received from BBVA Spark comes as an addition to the USD 70 million that Aplazo secured in May 2024. At that time, the company planned to further advance the capabilities of its product offering with AI to better understand customer behaviour. Also, Aplazo aimed to become the preferred payment method in Mexico through optimised and transparent financial solutions rather than traditional credit products that could pose difficulties for consumers. The fintech company intended to focus on serving the needs, demands, and preferences of its user base with a fair payment solution offering.

Since the start of its operations back in 2020, Aplazo has received over USD 100 million in equity financing, as well as USD 100 million in debt financing. The fintech company’s growth can be attributed to the scaling trend of Buy Now, Pay Later (BNPL), with the model focusing on consumer credit. Currently, many individuals tend to gravitate toward BNPL solutions as they allow them to divide payments into instalments without requiring a credit card, in turn equipping them with efficiency and convenience.

Other companies supported by BBVA Spark