Mexican fintech Stori plans to launch operations in Colombia with a $100 million investment in the South American country over the next three years, the company announced Thursday.
Stori has already attracted three million customers in the Mexican market over the past four years, offering services such as savings accounts with 15 percent yields and credit cards with near-perfect approval rates.
Stori plans to launch its “S Card” in Colombia in September, with credit limits starting at 200,000 Colombian pesos ($48.34), and aims to attract 500,000 customers for its card services in its first year in the country, it said in a statement.
Colombia “has enormous potential,” said Marlene Garayzar, co-founder and director of governance at Stori. “We are ready to offer our solutions to those people who have not been served by the traditional banking sector,” she added.
Earlier this month, the fintech secured a $212 million funding round. It also launched the so-called “black card” in Mexico, which offers 3 percent cash back on purchases and a credit limit of up to 230,000 Mexican pesos.
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– 2024-08-31 19:35:32
