Mexican Digital Bank Plata Becomes Unicorn with $160M Series A

Mexican digital bank Plata has reached unicorn status just two years after launch, securing a $160 million Series A funding round at a $1.5 billion valuation. The round was led by Kora with participation from Moore Strategic Ventures and other investors.

Founded in Mexico City by Neri Tollardo and Danil Anisimov, Plata began operations in April 2023 and has rapidly scaled, now boasting over one million active credit card users. Since December 2024, it has also secured banking license authorization, further solidifying its presence in the financial sector.

With 1,500 employees, 40% of whom are STEM professionals, Plata has built its own core banking infrastructure in-house, reinforcing its tech-driven approach. CEO Neri Tollardo emphasized Plata’s commitment to simplified, intuitive financial solutions, stating, “Our products have been met with incredible enthusiasm, and we couldn’t be more thrilled.”

Plata is part of a wave of digital banks revolutionizing Mexico’s fast-growing fintech sector, competing with Bineo, Brazil’s Nubank, Argentina’s Ualá, and Spain’s Santander (through Openbank).