economy and politics

The CNBV grants fintech license to Klar Pago

The CNBV grants fintech license to Klar Pago

Klar, founded in 2019, offers credit and debit cards through an alliance with Mastercard. There is no minimum balance required and it does not charge interest.

The firm highlighted the growth that fintechs have had in recent years in the country due to a strong demand for financial services

“The Mexican government has been proactive in creating a regulatory framework that fosters innovation while ensuring that companies operate in a safe and secure environment,” Klar noted.

In June of last year, Klar announced a financing for 90 million dollars. The investment round was led by the private equity firm General Atlantic, and firms such as Prosus, Quona, Mouro, IFC, Acrew, WTI and Endeavor Catalyst participated.

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