Finestrella S.A.P.I. de C.V. provides an alternative means for unbanked consumers in Mexico to acquire affordable postpaid mobile plans without a credit card, credit history, or upfront deposit. Its plans are sold through more than 250 independent mobile retail points across seven states, covering over 35% of Mexico’s population. The company lists affiliated points of sale in Mexico City, Guadalajara, Monterrey, Veracruz, Culiacan and Saltillo. With the new financing the company plans to rapidly expand availability of its current offerings and develop additional products and services for its customer base. Finestrella raised US$7m in a Series A led by IGNIA Fund I, LP, which committed US$4m; Bay Partners and Storm Ventures also participated. As part of the investment, IGNIA partners Alvaro Rodriguez Arregui and Joshua Motta will join Finestrella’s board of directors.

Total raised

$7M

Funding rounds

1

Latest round

Series A

Latest activity

May 2010