Mexican BNPL fintech Aplazo bags $70m in equity financing
Aplazo, a buy now, pay later (BNPL) fintech based in Mexico, has raised $70 million in equity financing led by US venture capital firm QED Investors.
Aplazo lands $70m in additional equity financing
The raise, which includes a $45 million Series B funding round, also featured participation from new investor Volpe Capital as well as existing investors Picus Capital, Oak HC/FT, and Kaszek.
Aplazo says it plans to use the cash injection to “double down” on product development, with plans to leverage AI capabilities to “better understand consumer and merchant needs and to enhance risk decisions”.
Launched in 2020 and headquartered in Mexico City, Aplazo provides a range of payment solutions and merchant tools for Mexican businesses. It says its platform has been built to “help merchants sell more and grow their brands” while also boosting financial inclusion among consumers, with the firm claiming 70% of its users “don’t have another credit product registered on bureau records”.
Aplazo attributes its recent funding to a period of “strong financial performance”, stating that it has been operating close to breakeven in recent months.
The firm says it has now secured over $100 million in equity financing and $75 million in committed debt funding since its formation, including its $27 million Series A round in 2021.
