Stori is a Mexico-based consumer finance startup that provides a multi-product app including credit cards and deposit accounts to serve underserved middle‑mass customers. The company launched its first credit card in 2020 and reports a 99% approval rate for that product. Following regulatory approval of its Sofipo license in October 2023, Stori introduced Stori Cuenta+, a deposit account offering a market-leading yield. The company says it has 3 million loyal users and plans to use new capital to introduce and scale additional products across Mexico and Latin America. Stori emphasizes financial inclusion, user education, and a user-friendly experience as core parts of its product strategy. The recent hiring of Diego Cabrera Canay as CFO is intended to strengthen the executive team for the next phase of rapid scaling. Stori is a Mexico-based fintech that issues paperless, mobile-first credit cards aimed at underserved and credit-invisible consumers. The company launched its credit card product in January 2020 and has grown to more than 1.4 million customers in Mexico (over 3x year‑over‑year). Stori earns revenue from interest and interchange fees and reported roughly 20x revenue growth in 2021 (company did not disclose absolute figures). The team includes former Capital One and payments/finance executives and now exceeds 200 professional employees plus over 400 support and service staff, up from 70 professionals a year earlier. Stori says it plans to use new capital for hiring, product expansion and geographic expansion across Spanish‑speaking Latin America, with an ultimate goal of serving 100 million underserved customers in the region. Stori is a credit-card-led digital financial services company focused on expanding access to credit cards for mass-middle and emerging-middle income populations. The company has become a top issuer of new credit cards in Mexico; more than 2 million Mexicans have applied for a Stori card and applications have grown more than tenfold in the past twelve months. Stori plans to invest the $200M raised in Mexico over the next year to triple in size and broaden its product suite. The company has a global team with offices in Washington DC, Mexico and Asia and intends to expand its team while doubling down on training, development and sustainable infrastructure. Stori was co-founded by Bin Chen and Marlene Garayzar and, eight months after its February 2021 Series B, achieved its recent growth milestones. Stori provides credit cards via a 100% mobile app-based experience aimed at Mexico’s rising middle-income and underserved populations. The company launched its credit card product in January 2020 and has had more than 1 million customers apply for a card. In January 2021 its monthly new customer growth was 14× that of January 2020 and six times the company’s 2020 monthly average. Stori spent its first two years building its infrastructure and platform and now has about 80 employees across offices in Mexico, the U.S., and China, up from 40 a year earlier. The company plans to use new capital to grow its customer base, boost headcount, and invest in product design, technology infrastructure, and underwriting. Stori aims to become a leading digital bank and credit-card issuer for underserved customers in the region. Stori is a Mexico-based digital bank that provides financial services to Mexican consumers using technology. Co-founded by Marlene Garayzar and Manuel Medina, the company has launched a credit card with compelling digital features in Mexico. In a Series A2 round the company raised $10M, co-led by Bertelsmann Investments and Source Code Capital, with participation from Vision Plus Capital. The round brought Stori's total funding to date to more than $17M. Stori intends to use the funds to strengthen its big data and AI platform and to grow its talent base.

Total raised

$605M

Funding rounds

8

Latest round

Equity

Latest activity

Aug 2024