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Stori is a technology company.
Stori has raised $895.5M across 9 funding rounds.
Stori has raised $895.5M in total across 9 funding rounds.
Stori is a Mexican financial entity offering credit cards without a credit bureau check and deposit accounts, aimed at helping users build or repair their credit history.
Stori is a Mexican fintech unicorn building a digital financial services platform to promote financial inclusion for underserved and underbanked consumers in Latin America, primarily through credit cards, savings accounts, and related products.[1][2][4] It serves over 3 million users, mainly emerging and middle-income populations in Mexico and Colombia, solving barriers to credit access for 400 million underbanked LatAm consumers via AI-driven underwriting, mobile-first experiences, and fair credit offerings.[1][2][3][4] With $654.5 million in total funding—including a $212 million round in 2024—Stori demonstrates strong growth momentum as Mexico's first female-co-founded unicorn, expanding products like Stori Cuenta+ deposits and leveraging top VC backing from GGV Capital, Lightspeed, General Catalyst, and others.[2][6]
Stori was founded in 2020 (with some sources noting early activity around 2017) by CEO and co-founder Bin Chen and CGO Marlene Garayzar, backed by a team with over 100 years of experience from Mastercard, Intel, Capital One, Morgan Stanley, GE Capital, and HSBC across the U.S., Mexico, and Asia.[1][3][5] The idea emerged from recognizing Latin America's massive untapped market of 400 million underbanked consumers, particularly in Mexico, where traditional banks overlook mass-market and middle-income groups; the founders applied global best practices in consumer finance and technology to launch a credit card product that gained over 2 million applicants shortly after debut.[1][4] Pivotal moments include achieving unicorn status in 2022 as the first Mexican startup co-founded by a woman, securing a Sofipo regulatory license in 2023 for deposits like Stori Cuenta+, and raising $212 million in 2024 to fuel expansion.[2][3]
Stori rides the fintech wave of financial inclusion in Latin America, where 400 million underbanked consumers represent one of the world's largest opportunities amid rising smartphone penetration and digital adoption.[1][4] Timing aligns with Mexico's supportive regulations (e.g., Sofipo approval) and government-private sector collaboration for innovation, amplified by post-pandemic demand for accessible credit and savings amid economic volatility.[2] Market forces like AI advancements and VC influx into LatAm fintech favor Stori, positioning it as a leader against competitors by blending global underwriting with local needs, influencing the ecosystem through user education, deposits revolutionizing saver yields, and scalable models for regional expansion.[2][3][4]
Stori is poised to dominate LatAm digital banking by scaling its multi-product platform across more countries, leveraging fresh $212M capital for tech innovation and user acquisition toward 100 million customers.[2][4] Trends like AI personalization, regulatory easing, and embedded finance will accelerate growth, potentially evolving Stori into a full-service "top consumer services company" challenging incumbents. As Mexico's unicorn trailblazer, its influence could inspire more inclusive fintechs, tying back to its core mission of democratizing credit for millions.
Stori has raised $895.5M in total across 9 funding rounds.
Stori's investors include Notable Capital, 305 Ventures, Alpine Ventures, Bertelsmann Asia Investments (BAI), CapitalG, Concept Ventures, General Catalyst, Goodwater Capital, Igah Ventures, Infinity Ventures Crypto, ISAI, Lightspeed Venture Partners.
Stori has raised $895.5M across 9 funding rounds. Most recently, it raised $212.0M Debt / Other Equity in August 2024.