Mexico-based fintech Aplazo has secured $70 million in equity financing, led by US venture capital firm QED Investors. The funding round, comprising a $45 million Series B component, saw participation from new investor Volpe Capital, alongside existing backers Picus Capital, Oak HC/FT, and Kaszek.
Aplazo intends to allocate the funds towards intensifying its product development efforts, leveraging AI capabilities to gain deeper insights into consumer and merchant preferences and to refine risk assessment methodologies.
Established in 2020 and headquartered in Mexico City, Aplazo offers a suite of payment solutions and merchant tools tailored for Mexican businesses. Its platform is designed to bolster sales and brand growth for merchants, while also fostering financial inclusion among consumers. Aplazo claims that 70% of its user base lacks registration for other credit products in bureau records.
The company attributes its recent funding success to robust financial performance, noting its operational proximity to breakeven in recent months. Including the $27 million Series A round secured in 2021, Aplazo has now amassed over $100 million in equity financing and $75 million in committed debt funding since its inception.
Source: fintechfutures.com
