Plata, the Mexican financial technology company, has reportedly securedĀ financing of up to $500 million arranged by Nomura Securities International, Inc. The transaction also sets a precedent: it marks the first time a Japanese investment bank participates in a financing of this scale within Mexico’s digital financial sector. The announcement comes as Plata continues to work towards launching operations as a bank, after “having received its banking license authorization in December 2024.”
The company embarked on this process from the “beginning of the project in the summer of 2022.”
This discipline has been key to attracting capital.
Funds from the United States, Europe, and Latin America āincluding Kora, TelevisaUnivision, Moore Strategic Ventures, Hedosophia, Fasanara Capital, and Baring Venturesā have “supported the company.”
Many of these investors have contributed “to the development of globally recognized digital banking models.”
This strength is reinforced by the participation of “a global investment bank like Nomura.”
With the backing of Nomura in this new facility, Plata surpasses “$1.6 billion in accumulated institutional financing.”
In October, the company closed a “$250 million equity round that doubled its valuation to $3.1 billion.”
Plata was founded with digital technology, controls, and “an operating model that has continuously been recognized by investors and authorities in both Mexico and the United States.”
This approach has allowed the company “to consolidate a platform capable of scaling.”
Since entering the market, the company has reportedly invested over $1 billion in Mexico and claims to have created over 3,000 jobs āincluding “more than 500 engineering and technology specialists with experience in complex financial institutions.”
Today, it reportedly has more than “2.5 million active customers thanks to a hybrid model that combines digital operations with in-person verification to ensure reliable onboarding.”
Neri Tollardo is the CEO and Co-Founder of Plata.
Originally from Italy, he has “experience in investment banking, financial consulting, and digital banking.”
He began his career at Morgan Stanley, where he became Vice President of the Financial Studies and Capital division for Europe, the MEA region.
He later joined Tinkoff Bank in Moscow as Vice President of Strategy, contributing to the growth of “one of the world’s digital banks.”
After leaving Russia in 2022, Neri ātogether with “international experts in banking and technologyā decided to build Plata from the ground up in Mexico.”
Under his leadership, the company began operations “in April 2023 and quickly became one of the fastest-growing financial platforms in Latin America, securing a banking license, surpassing 2.5 million active customers, building a 3,000-person team, and reaching a valuation of over US$1.5 billion in early investment rounds.”
As noted in the update, Plata is a high-tech Mexican financial platform authorized “with a Banking license.”
Plata’s aim in Mexico is to raise the “standards of financial products and services through innovation.”
Plata is on the mission to transform the Mexican financial experience by overcoming “the limitations of traditional banking.”
Backed by its technology, Plata claims that it offers a an efficient financial experience.
With a team of experienced employees, Plata has developed its own banking infrastructure and works with the “support of AI, which allows the company to make a difference in the financial landscape.”
In two and a half years of operations in Mexico, Plata has reportedly “achieved 2.5 million active customers of its credit product.”