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- Stori
Stori Revenue, Valuation, Funding & Investors
Stori is valued at $1.2B as of July 2022, a 4.0x multiple on its last reported $300M revenue.
Last Stori valuation
$1.2B
Series C · Jul 2022
Last Stori funding round
$105M
Undisclosed stage · Aug 2024
Stori revenue
$300M
Series C · Jul 2022
Key investors in Stori
BAI capital
Lightspeed Venture Partners
Notable Capital
GIC
Source Code Capital
Vision Plus Capital
About Stori
Stori is a Mexico City-headquartered digital financial services provider. Stori Card delivers credit cards via mobile app to unbanked adults, using alternative data for credit scoring and offering cashback rewards. The platform includes savings accounts and remittances integrated with SPEI. Available nationwide, it partners with Visa for card issuance. Founded in 2018, Stori expanded to buy-now-pay-later options and serves middle-income segments in Latin America.
Founded
2019
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Product sales
Revenue
$300M (Jul 2022)
Valuation
$1.2B (Jul 2022)
Stori Valuation
Stori is currently valued at $1.2B, based on its Series C in July 2022.
The $50M round was led by BAI capital, GIC and Notable Capital, with participation from ZMT Capital.
Stori's valuation has grown 14x from $88M at its Series A in October 2019 to $1.2B in July 2022, across 2 priced rounds.
Stori valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jul 2022 | Series C | $1.2B | 4.0x |
| Oct 2019 | Series A | $88M | - |
Stori Revenue
Stori's latest recorded revenue is $300M, as of its Series C in July 2022. At a $1.2B valuation, that implies a 4.0x revenue multiple.
Stori revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jul 2022 | $300M | $1.2B | 4.0x | Series C |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Stori Funding History
Stori has raised a total of $330M across 7 funding rounds.
Stori's first fundraising round was a $2M seed round in May 2018. The most recent completed round was a $105M undisclosed-stage round in August 2024.
Stori funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Aug 2024 | Undisclosed stage | BAI capital (lead); Notable Capital (lead); General Catalyst; Tresalia Capital; GIC; Goodwater Capital; Lightspeed Venture Partners; Redpoint Ventures China | $105M | - | Stori is a Mexican fintech unicorn founded in 2018-2019, providing credit cards, savings accounts, and digital wallet services to underserved and underbanked consumers in Mexico and Latin America, with a 99% credit card approval rate and over 3 million users as of mid-2024. The company targets democratizing financial access for the middle-mass population, enabling credit history building without traditional requirements like paperwork or annual fees. In August 2024, Stori raised $212 million in a mix of $105 million equity and $107 million debt. The equity portion was led by Notable Capital and BAI Capital, with participation from GIC, General Catalyst, Goodwater Capital, Lightspeed Venture Partners, Tresalia Capital, and ACE Redpoint Ventures (also referred to as Redpoint Ventures China). Debt was provided by Goldman Sachs and Davidson Kempner Capital Management LP. Funds will support product expansion (e.g., potential deposits, personal loans), tech upgrades, scaling existing offerings, team growth, and geographic expansion across Latin America to reach tens of millions more customers. Stori appointed Diego Cabrera Canay, former CFO of dLocal, as group CFO to aid growth. Traction includes 3 million loyal users in 2024 and rapid growth expectations. By H1 2025, Stori achieved sustainable profitability with net income of $1.1 million (21.4 million pesos) and annualized revenue of $300 million, up 80% year-over-year, positioning it for a potential IPO in late 2026. Total funding raised across Series C stages reached about $280-333 million by 2024. |
| Jul 2022 | Series C | BAI capital (lead); GIC (lead); Notable Capital (lead); ZMT Capital | $50M | $1.2B | Stori is a Mexican fintech startup founded in 2018 that provides credit cards and financial services to underserved populations in Mexico, particularly those without bank accounts. The company offers a suite of products including credit cards, deposits, and personal loans, earning revenue through interest and interchange fees from credit card transactions. On July 15, 2022, Stori completed a Series C extension round led by BAI Capital, GIC, and GGV Capital, raising $50 million in equity at a valuation of $1.2 billion, giving the company unicorn status as the second Mexican startup to achieve this milestone that year. The round also included $100 million in debt financing and featured participation from Lightspeed Venture Partners, General Catalyst, Vision Plus Capital, Goodwater Capital, and Tresalia Capital. This valuation represented more than a 25% increase from the company's previous raise in September 2021, driven by strong "20x" revenue growth in 2021 according to CEO Bin Tao Chen, though specific revenue figures were not disclosed. With 3 million users at the time of a later 2024 funding announcement, Stori had raised over $200 million in total equity funding since inception and was positioned as a transformative leader in financial inclusion across Mexico and Latin America. |
| Nov 2021 | Series C | GIC (lead); Notable Capital (lead); General Catalyst; Tresalia Capital; Goodwater Capital; Vision Plus Capital; Lightspeed Venture Partners; BAI capital; Source Code Capital | $125M | - | Stori is a Mexican fintech startup offering credit cards to underserved, mass-middle, and emerging-middle income populations to promote financial inclusion through technology, machine learning, data-driven underwriting, and mobile experiences. The company reported over 2 million credit card applications, growing more than 10x in the prior twelve months. In November 2021, it closed an oversubscribed $125 million Series C equity round co-led by GIC and GGV Capital, with participation from General Catalyst, Goodwater Capital, Tresalia Capital, Lightspeed Venture Partners, Vision Plus Capital, BAI Capital, and Source Code Capital, alongside $75 million in debt from Community Investment Management, totaling $200 million to triple operations, broaden products, expand the team, and invest in Mexico. A subsequent July 2022 Series C extension raised $50 million equity (co-led by BAI Capital, GIC, GGV Capital) plus $100 million debt at a $1.2 billion valuation, representing unicorn status and over 25% increase from the prior raise, attributed to 20x revenue growth in 2021 from interest and interchange fees. Stori faces competition from players like Nubank in Mexico's credit card market and has since expanded to Colombia while achieving profitability milestones by 2025. |
| Feb 2021 | Series B | Lightspeed Venture Partners (lead); Vision Plus Capital; BAI capital; Source Code Capital | $33M | - | Stori is a Mexico-based consumer fintech and digital banking startup founded in 2018 or early 2019, focused on financial inclusion by providing credit cards through a 100% mobile app-based experience to the mass-middle, emerging-middle, and underserved low-income populations in Mexico and Latin America. The company launched its credit card product in January 2020 and reported over 1 million customer applications by early 2021, with monthly new customer growth in January 2021 reaching 14 times January 2020 levels and six times the 2020 monthly average. Stori aims to become Mexico's leading credit card issuer for the rising middle class amid growing e-commerce and app-based services, where cash still dominates 86% of transactions and only 37% of Mexicans over 15 have bank accounts. On February 25, 2021, Stori raised $32.5 million in a Series B funding round led by Lightspeed Venture Partners, with participation from existing investors Vision Plus Capital, BAI Capital, and Source Code Capital, bringing total funding to $50 million. Previously, Stori completed a seed round of $1.5 million in 2018 and a Series A of $15 million in 2020 led by Vision Plus Capital. The funds are intended to support rapid growth, expand business reach, strengthen capabilities, and scale its customer-centric, tech-driven data infrastructure to serve millions more customers and build credit histories. Lightspeed's investment marked its first major bet in Latin America, with partner Mercedes Bent noting more to come, while Vision Plus emphasized Stori's execution in digital fintech models for emerging markets. Co-founder and CEO Bin Chen highlighted partnerships throughout customers' financial journeys, drawing parallels to investors' experience with Affirm, Ant Financial, and Webank. |
| Oct 2019 | Series A | BAI capital (lead); Source Code Capital (lead); Vision Plus Capital; DHVC | $10M | $88M | Stori is a Mexico City-based fintech founded in 2019, focused on financial inclusion by providing credit cards and digital financial services to underserved middle- and emerging middle-class customers in Latin America. The company offers a mobile app with products like credit cards featuring high approval rates and savings accounts to help users build credit history. On October 4, 2019, Stori raised $9.99 million in its Series A-2 round from investors including BAI Capital, Lightspeed Venture Partners, Source Code Capital, and Vision Plus Capital, achieving a post-money valuation of $87.81 million. BAI Capital and Source Code Capital served as lead investors. This round contributed to Stori's early growth in becoming a leading digital financial service provider in Mexico. Stori has since scaled significantly, serving over 3 million clients in Mexico and expanding its product suite, while achieving unicorn status in later rounds with valuations reaching $1.2 billion in 2022. |
| Feb 2019 | Series A | Cynthia Chen | $6M | - | - |
| May 2018 | Seed | - | $2M | - | - |
Who has invested in Stori?
13 investors have backed Stori across its funding rounds, including BAI capital, Lightspeed Venture Partners, Notable Capital, GIC, Source Code Capital and Vision Plus Capital.
Lead investors include BAI capital, Notable Capital, GIC, Lightspeed Venture Partners and Source Code Capital.
Stori Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 5 | Lead | Oct 2019 | ||
| 3 | Lead | Nov 2021 | ||
| 3 | Participant | Oct 2019 | ||
| 3 | Lead | Feb 2021 | ||
| 3 | Lead | Oct 2019 | ||
| 3 | Lead | Nov 2021 | ||
| 2 | Participant | Nov 2021 | ||
| 2 | Participant | Nov 2021 | ||
| 2 | Participant | Nov 2021 | ||
| 1 | Participant | Feb 2019 | ||
| 1 | Participant | Oct 2019 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialStori Competitors
Stori competitors include listed companies like Green Dot and Klarna, and private ones like DANA, Tamara, Tyme Group and WeBank.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1.1B | - | ||
| Private | $360M | $52M | $1B | 2.8x | ||
| Private | $168M | - | $1.5B | 8.9x | ||
| Private | - | - | $941M | - | ||
| Publicly listed | $2.1B | ($12M) | $751M | 0.3x | ||
| Publicly listed | $3.5B | $551M | $5.3B | 1.3x |
Stori Public Comps
Stori is still privately-owned, but its public comps include PicPay, Upbound, Arzan Financial Group, Agibank, Qfin Holdings, Standard Chartered Bank Kenya, Superbank Indonesia, Forbright Bank, Atlanticus and Yixin Group.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.2B | $205M | 1.0x | 0.5x | 6.0x | 3.8x | |||
| $4.7B | $1.7B | 0.6x | 0.6x | 1.5x | 5.2x | |||
| $37M | - | 32.4x | - | - | - | |||
| $1.3B | $227M | 0.8x | 0.6x | 4.4x | 5.3x | |||
| $2.4B | - | 0.8x | 0.8x | - | - | |||
| $323M | - | 3.0x | - | - | - | |||
| $89M | - | 10.8x | - | - | - | |||
| $325M | - | 2.9x | - | - | - | |||
This data is available for Pro users. Sign up to see all Stori competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Stori
| When was Stori founded? | Stori was founded in 2019. |
| Where is Stori headquartered? | Stori is headquartered in Mexico City, Mexico. |
| Is Stori publicly listed? | No, Stori is a private, VC-backed company. |
| What is Stori's valuation? | Stori was last valued at $1.2B in its Series C in July 2022. |
| How much funding has Stori raised? | Stori has raised $330M across 7 funding rounds. |
| What was Stori's last funding round? | Stori's last funding round was a $105M undisclosed-stage round in August 2024, led by BAI capital and Notable Capital. |
| Who are Stori's investors? | Stori's investors include BAI capital, GIC, Vision Plus Capital, Lightspeed Venture Partners, Source Code Capital, Notable Capital, General Catalyst, Tresalia Capital, Goodwater Capital, Cynthia Chen and 3 others. |
| What is Stori's revenue? | Stori's latest recorded revenue is $300M (July 2022). |
| What is Stori's revenue multiple? | Stori's latest valuation implies a 4.0x revenue multiple ($1.2B valuation on $300M of revenue). |
| Which companies are comparable to Stori? | Companies comparable to Stori include DANA, Tamara, Tyme Group, WeBank, Green Dot and Klarna. |
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