15 May 2024

Mexico based Aplazo Secures $70mn

Written By FinTech Alliance in FinTech

Mexico based Aplazo Secures $70mn

QED Investors led the equity financing
 

In brief:

- The financing round comes on the back of a threefold growth in revenue from rapidly expanding market share among online and offline merchants, as well as strong financial performance, operating near breakeven in the last couple of months.

- The company will deploy the additional capital to continue shaping Aplazo’s best-in-class product offering for consumers and merchants alike and double down on product innovation including using AI capabilities to better understand consumer and merchant needs and to enhance risk decisions.

- Aplazo has positioned itself as the category leader in the BNPL space by tackling the massive offline retail market, which represents around 93 percent of total retail sales in Mexico. Presently, in-store transactions account for roughly more than half of Aplazo’s business and have been a meaningful driver of retention and loyalty.

 

What does this mean?

Angel Peña, CEO and co-founder of Aplazo, said: “Aplazo set out to become the preferred payment method in Mexico through fair, simple and transparent financial solutions, rather than traditional credit products that lure users into a debt trap. This behavior has been common practice in Mexico over the past decades, and we put the consumer at the core of our fair payment solutions offering. With this investment we look to further advance on our mission and are tremendously excited to welcome QED as one of the leading global consumer fintech investors as a partner on this journey.”

 

Read more here.

Up Next ...
05 November 2024

MeaWallet Introduces New Features to Support Click to Pay, Enabling Safer, Faster Online Shopping

MeaWallet product updates support businesses facing mandatory regulatory requirements that state they must support Click to Pay

05 November 2024

Nium and HyperGuest Join Forces to Streamline Payments for the Travel and Hospitality Industry

This partnership will enhance payment efficiency and security for HyperGuest’s global network of travel and accommodation partners with Nium’s virtual card solution...

05 November 2024

Mastercard's 'Pay Local' Brings Global Payment Access to Digital Wallets

This initiative particularly benefits travelers, as it eliminates the need to preload prepaid accounts, making global payments more seamless

04 November 2024

Finance apps are in ‘need of improvement’, says a quarter of Brits

A recent survey by UK mobile specialists Apadmi reveals that ...

More in FinTech

MeaWallet Introduces New Features to Support Click to Pay, Enabling Safer, Faster Online Shopping

05 November 2024

MeaWallet product updates support businesses facing mandatory regulatory requirements that state they must support Click to Pay

Nium and HyperGuest Join Forces to Streamline Payments for the Travel and Hospitality Industry

05 November 2024

This partnership will enhance payment efficiency and security for HyperGuest’s global network of travel and accommodation partners with Nium’s virtual card solution...

Mastercard's 'Pay Local' Brings Global Payment Access to Digital Wallets

05 November 2024

This initiative particularly benefits travelers, as it eliminates the need to preload prepaid accounts, making global payments more seamless

Finance apps are in ‘need of improvement’, says a quarter of Brits

04 November 2024

A recent survey by UK mobile specialists Apadmi reveals that ...

White Papers FinTech

Open Finance in Review: Looking back at 2023

28 November 2023

In this insightful report, OzoneAPI delve into the pivotal developments that have shaped the landsca...

White Papers FinTech

Fintech 2030: The Industry View

02 October 2023

Key findings from the report:Embedded finance is expected to dominate the industry in 10 yearsThere...

White Papers FinTech

Pulse of Fintech H2 2022 report

27 July 2023

UK FinTech investment falls 56% to £14.42bn in 2022After an incredibly strong 2021, with total FinTe...

White Papers FinTech

The Rise and Impact of Fintech in Latin America

29 June 2023

Fintech also provides tools to help manage these risks. Financial authorities and their supervisees...

FinTech Connect 2024 - The Global FinTech Ecosystem . Connected.

FinTech Connect 2024 - The Global FinTech Ecosystem . Connected.

04 December 2024 - 05 December 2024

12:00 AM - 12:00 AM

ExCel London, Western Gateway, Royal Victoria Dock, London, London, E16 1XL

Free
Finnovate Europe

Finnovate Europe

25 February 2025

12:00 AM - 12:00 AM

InterContinental London - The O2, 1 Waterview Drive, London, Greenwich, SE10 0TW

£1,699.00