PLATA REACHES $5 BILLION VALUATION WITH $405 MILLION SERIES C FUNDRAISE

• The round was led by Bicycle Capital and included new investors Qatar Investment Authority (QIA), BTG Pactual, Valor Capital Group, and others. Existing investors Kora, Hedosophia, Spice Expeditions, and Audeo Ventures also participated.
• The Series C was multiple times oversubscribed, reflecting strong institutional demand.
• With over $2 billion in total debt and equity raised, Plata has surpassed $600 million in annualized revenues in under three years, faster than any digital bank ever built, anywhere in the world, underscoring the scalability of its technology-driven platform.
• Morgan Stanley acted as exclusive placement agent to Plata.

MEXICO CITY, April 16, 2026 /PRNewswire/ -- Plata, a leading digital bank with operations in Latin America, announced the closing of its $405 million Series C at a $5.0 billion valuation, making it Latin America's most valuable privately held digital bank.

The round was led by Bicycle Capital with new investors Qatar Investment Authority (QIA), BTG Pactual, Valor Capital Group, and a large global long-only active fund manager. Existing investors Kora, Hedosophia, Spice Expeditions, and Audeo Ventures also participated. Plata's investor base now spans sovereign wealth funds, global asset managers, venture firms, and U.S. university endowments including the University of Illinois Foundation, the University of Wisconsin Foundation, and Washington University. Morgan Stanley acted as exclusive placement agent to Plata.

The raise follows Plata's launch of full banking operations as Banco Plata in Mexico in March 2026. In three years of operation, the company has surpassed 3.5 million active credit card customers, over 750,000 of whom received their first-ever credit card. Its top-rated app, extremely responsive customer service, and innovative ambassador-driven onboarding drive unparalleled virality, with over 40% of customers coming through referral and organic channels. The launch of deposit and debit capabilities now allows Banco Plata to bring full-service digital banking to Mexican consumers for the first time. Plata reached over $600 million in annualized revenue and an $800 million loan portfolio — powered by proprietary AI risk models and platforms built by over 800 STEM professionals. In July 2025, Plata also received authorization to incorporate a Compañía de Financiamiento in Colombia.

"This round reflects investors' confidence not only in our execution to date, but also in the scale of the opportunity ahead," said Neri Tollardo, Co-Founder and CEO of Plata. "We built a technology-led platform designed to broaden access to better financial services at scale. The launch of full banking operations in Mexico is a pivotal milestone — it expands our product range and gives us access to retail deposit funding, meaningfully strengthening our funding model for the next phase of growth."

"Reaching more than $600 million in annualized revenue run rate in three years demonstrates the strength of our distribution, technology and underwriting capabilities. To our knowledge, Plata is the fastest company in history to reach this milestone — faster than any digital bank ever built" added Marcos Kantt, Chief Financial Officer at Plata. "Bringing together sovereign wealth funds, institutional crossovers, U.S. university endowments, and top-tier VCs all in the same round is a strong statement and a direct reflection of what this team has built and where we are taking it."

***About Plata
Plata is a technology-led digital financial institution that operates Banco Plata, a fully regulated bank in Mexico, and has received authorization for a Compañía de Financiamiento in Colombia. Since launching three years ago, Plata has grown to serve over 3.5 million active customers and has raised more than $2 billion in debt and equity. The company built its technology infrastructure in-house, including a proprietary core banking system, CRM, and AI-powered risk engine, developed by a team of over 800 STEM professionals.

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SOURCE Plata