Plata raises up to $500 million as it readies Mexico bank

Dec 15 (Reuters) – Mexican financial technology company Plata said on ​Monday it has raised up ‌to $500 million in a financing deal arranged ‌by Nomura Securities International, as it moves toward becoming a full-fledged bank.

The licensed digital financial platform, ⁠which received ‌authorization for a banking license in December 2024, is ‍now in the final stages before starting operations.

In October, the company closed ​a $250 million equity round led ‌by Kora Management, with participation from Moore Capital Management and Audeo Ventures, which doubled its valuation to $3.1 billion.

Plata’s investor base spans the ⁠U.S., Europe, Japan ​and Latin America, ​reflecting growing international interest in Mexico’s financial technology sector, it ‍said.

The company ⁠uses proprietary technology and AI in its offering and has ⁠2.5 million active credit customers.

(Reporting by ‌Prakhar Srivastava in Bengaluru; Editing ‌by Tasim Zahid)