Stori Closes One of Latin America’s Largest Series C Rounds
Reston – November 30, 2021 – Cooley advised credit card-led fintech company Stori on its $125 million oversubscribed Series C financing round, which marks one of the largest Series C equity financing rounds in Latin America to date. Partner Mike Lincoln led the Cooley team advising Stori.
GGV Capital and GIC co-led the round, which included participation from General Catalyst, Goodwater Capital, Tresalia Capital, Lightspeed Venture Partners, Vision Plus Capital, BAI Capital and Source Code Capital. Alongside this equity raise, the company raised $75 million in debt financing from Community Investment Management.
Stori is committed to investing the capital in Mexico to triple the company’s size, broaden its suite of products to address customers’ needs and fulfill its mission of democratizing financial access for millions of underserved consumers in the region.
“Our success since launch is a direct result of having a team who is passionate about our mission to empower upward financial mobility for the underserved population,” Marlene Garayzar, co-founder of Stori, said in a news release. “We are incredibly grateful for their hard work and dedication.”
Stori is building the top consumer fintech company in Mexico and the leading digital financial service provider in Latin America, and is focused on expanding access to credit cards for mass and emerging middle-income populations. The company is fully tech-enabled and leverages global best practices in product design and underwriting. With Stori, customers have access to not just a universal digital payment card, but also fair credit.
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