Mexico Fintech Plata Hits Unicorn Status in $160 Million Round

Mexico-based fintech Plata joined the ranks of Latin America’s most valuable startups following a $160 million Series A equity round at a $1.5 billion valuation.

The company, which received approval for a banking license from Mexico’s regulators in December and focuses on consumer credit products, also disclosed it has one million active credit card users. The round was led by Kora and saw participation from Moore Strategic Ventures LLC and other US and European investors that were not named.