Mexican fintech Plata raises $160m in Series A funding round at $1.5bn valuation

Mexican fintech start-up Plata has achieved unicorn status after securing a $160 million Series A funding round at a $1.5 billion valuation.

The equity round was led by New York-based investment firm Kora and further supported by Moore Strategic Ventures, along with a group of unnamed US and European investors.

Founded in 2022, Plata specializes in consumer credit products, including BNPL, cashback, and top-up services. The company offers an app for managing expenses, transferring money, and paying bills, along with a Mastercard-powered credit card, which recently surpassed one million active users.