With a three-year investment plan, the Mexican fintech Stori arrives in Colombia

Stori, the Mexican startup pioneer in accelerating credit to people through innovation in financial products and services, arrives in Colombia after the success obtained in Mexico, where it has reached more than 3 million customers in 4 years.

Valued at over US$1 billion and recognized as the first Mexican unicorn co-founded by a woman, Stori is committed to financial inclusion and saying “Yes” to those who have always been rejected by the traditional market.

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“Stori was born with the mission of not leaving anyone behind in the financial system and saying yes to all those people who have been constantly and at different stages told no by the traditional market. Under our motto (freedom, tranquility, Stori), we believe in the power of technology and financial inclusion to transform lives and we are committed to driving the development of the digital ecosystem in Colombia. This country has enormous potential, and we are ready to offer our solutions to those people who have not been served by the traditional banking sector,” said Marlene Garayzar, Chief Governance Officer of Stori.

Stori’s S Card is positioned as an essential tool for millions of Colombians, especially those excluded by traditional banking. It offers credit lines from $200,000, regardless of credit history. Stori also seeks to train users in managing their finances. It will launch its application to the public in September and projects some 500,000 downloads in the first year.

To lead this major undertaking, the company has appointed Carlos José Ayalde as its general manager. With more than 15 years of experience in the financial and technology industry, Ayalde has played key roles in various leading companies, both in the country and abroad.

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“We have ambitious growth plans in Colombia, with an investment of US$ 100 million in the next 3 years. After transforming access to credit in Mexico, where our card was the first for 80% of our clients, we now seek to offer solutions that improve the lives of those who need it most in Colombia,” said Carlos José Ayalde, general manager of Stori Colombia.

Stori employs an advanced risk assessment model, using sophisticated algorithms and emerging technologies such as Machine Learning and Artificial Intelligence. In addition, the company incorporates gamification strategies to educate users and improve their credit history in an attractive and interactive way.

Stori has a vision to serve more than 100 million Latin Americans, offering inclusive and accessible financial products and services that foster economic stability and personal development. The investment in Colombia will not only boost local economic development, but will also contribute to the advancement of the country’s digital ecosystem.

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Recently, Stori secured a new round of investment totaling US$212 million, comprised of US$105 million in equity led by Notable Capital and BAI, and $107 million in debt financing provided by Goldman Sachs and Davidson Kempner Capital Management LP. This investment reinforces Stori’s strength and its ability to continue its expansion and fulfill its mission of financial inclusion throughout the region.