Small logo Subscribe to leading news on impact investing. Learn More
The Brief Originals Dealflow Signals The Impact Alpha Impact Voices Podcasts Agents of Impact Open
What's Next Capital on the Frontier Measure Better Investing in Racial Equity Beyond Trade-offs Impact en las Americas New Revivalists
Local and Inclusive Climate Finance Catalytic Capital Frontier Finance Best Practices Geographies
Slack Conference Calls Events Contribute
The Archive ImpactSpace The Accelerator Selection Tool Network Map
About Us FAQ Calendar Pricing and Payment Policy Privacy Policy Terms of Service Agreement Contact Us
Locavesting Entrepreneurship Gender Smart Return on Inclusion Good Jobs Creative economy Opportunity Zones Investing in place Housing New Schooled Well Being People on the Move Faith and investing Inclusive Fintech
Clean Energy Farmer Finance Soil Wealth Conservation Finance Financing Fish
Innovative Finance
Personal Finance Impact Management
Africa Asia Europe Latin America Middle East Oceania/Australia China Canada India United Kingdom United States
Subscribe
Features
Series
Themes
Community
Data
Subscribe Log In
More

Mexico’s Klar raises $57.5 million to expand digital credit



ImpactAlpha, October 1 – Latin America’s fintech startups are hot among venture capital investors because they’re reaching a new and large base of customers: the region’s majority of un- and underbanked adults. The latest example is Mexico’s Klar, a digital credit company. 

Klar offers a commission-free credit card in a country with only 15% of adults have access to credit products. Its card is supported by an app that offers cashback on purchases and lets users make flexible payments.

The company, which launched last year, wants to reach 100,000 Mexicans by next year. To support its goal, Klar has raised $7.5 million in credit and $50 million in debt from Santander bank’s InnoVentures venture fund and Quona Capital, a financial inclusion-focused venture capital firm.

Quona’s Jonathan Whittle said in a statement that his firm was investing because of Klar’s potential to have “dramatic impact on financial inclusion in Mexico” while Santander’s Manuel Silva Martínez noted the startup’s “ability to imprint a truly customer-centric approach to an ambitious product vision.” 

You might also like...