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Digital Bank Klar Raises US$70 million

The startup, which previously said it wanted to be the "Chime of Mexico," has added 1.4 million users in the last year.

Don't worry, we speak : Español (Spanish), too!

According to TechCrunch, Klar announced a US$70 million raise in a round led by General Atlantic, a firm that is backing this fintech for the second time.

Its CEO, Stefan Möller, told them that Klar is starting to see the benefits of scaling, gaining traction, doing it more profitably, and adding users organically. However, he declined to provide revenue and total customer figures. 

Founded in 2019, Klar is a fully digital bank in the vein of companies like California-based Chime. It plans to use the new capital to further push its banking-based model to the Mexican population (where an estimated 50% of the population is unbanked). In addition, Möller told Reuters that it would help them explore strategic acquisitions. 

You may also be interested in: Galileo is going in for the Mexican fintech market, partnering with Klar

Cristóbal Fredes
Director de Contxto.


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