Mexican Fintech Klar raises $190M to expand services

Mexican fintech company Klar has secured fresh capital to fuel its expansion amid a rapidly maturing financial technology ecosystem in Mexico. The move underscores growing investor confidence in the country’s fintech market, which is attracting unprecedented levels of foreign investment and consolidation.

Klar secures $190M in Series C funding

Klar announced the close of a $190 million Series C round, pushing its valuation to over $800 million. The round was led by U.S.-based private equity firm General Atlantic and included $170 million in equity alongside $20 million in venture debt.

The funding drew participation from Klar’s existing investors, Prosus, IFC, Mouro Capital, and Quona Capital,  as well as new backers such as Santander Group, Grupo Televisa, and Grupo Fórmula.

Funds to accelerate product and market growth

The new capital will be directed toward expanding Klar’s operations in Mexico. The company plans to strengthen its product development and explore new growth opportunities, reinforcing its position in a competitive and evolving market.

Klar’s role in Mexico’s fintech expansion

Founded in 2019, Klar offers app-based financial services tailored to Mexican consumers and small businesses. Its trajectory reflects the broader momentum of the country’s fintech sector, which saw $865 million raised across 50 deals in 2024—accounting for 74% of all VC funding in Mexico that year.

A maturing ecosystem attracting global attention

Mexico’s fintech sector has grown from around 300 startups in 2018 to over 1,000 in 2025, including more than 800 local players and over 300 international entrants. This growth has come with a shift in focus: domestic fintechs are increasingly prioritizing profitability, reporting a 31% increase in revenues as the industry evolves.

Klar exemplifies this shift, approaching $300 million in annual revenue, and positioning itself as a key player in a market that is fast catching up to Brazil. In fact, Mexico now captures 60% of the VC funding traditionally funneled into Brazil, up from 34% in 2020—a sign of rising confidence in Mexico’s fintech future.