MaKe | MaHui Member Stori Raises Another $212 Million, Deepening Its Leadership in Mexico's Financial Sector

Recently, MaHui member and Mexican unicorn Stori announced a new round of funding totaling $212 million in equity and debt. This includes $105 million in equity led by Notable Capital and BAI, plus $107 million in debt financing provided by Goldman Sachs and Davidson Kempner. Source Code Capital co-led Stori's Series A+ round and continued to participate in its Series B and C rounds.

This ranks as the largest funding round in Latin America in 2024. Stori's valuation has continued to climb since it became a unicorn in 2022.

Stori is among the fastest-growing companies in Latin America in recent years, with 3 million loyal users. Backed by this new funding, Stori will further improve product quality and provide deeper financial services — expanding access to quality financial products for middle-income groups in Latin America who have been underserved economically, and advancing financial inclusion.

In July 2024, the third Ministerial Meeting on Mexican Foreign Policy was formally convened. At the meeting, Mexican Foreign Minister Alicia Bárcena Ibarra and Stori co-founder Marlene Garayzar jointly announced that Stori will invest 7 billion pesos (approximately $400 million) in the fintech sector over the next two years, to further deepen its presence in the Mexican market and drive business expansion, particularly in cities with weaker financial services.

Left: Mexican Foreign Minister Alicia Bárcena Ibarra; Right: Stori co-founder Marlene Garayzar

In 2020, Stori launched its first credit product, aiming to create a favorable environment for Mexico's financial system. Committed to openness and inclusivity, Stori provides accessible financial services to customers overlooked by traditional banking systems, becoming the only credit card in Mexico with an approval rate as high as 99%.