We have another unicorn! The Mexican fintech Clip reaches a valuation of 2 billion dollars

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We have another unicorn! The Mexican fintech Clip reaches a valuation of 2 billion dollars

Clip is the third Mexican startup to reach the “unicorn” milestone in less than a year after Kavak and Bitso.

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June 10, 2021 2 minutes to read

This article was translated from our Spanish edition using AI technologies. Errors can occur because of this process.

Mexico has a new universe: Clip, the payment company for small and medium-sized businesses, received a capital investment of $ 250 million from SoftBank Group’s Latin America Fund and Viking Global Investors. With this cash injection, the fintech achieved a valuation of $ 2 billion.

Founded in 2012, Clip became popular with mom and pop stores, street vendors and small businesses in Mexico thanks to its credit card reader that adapts to smartphones.

According to a statement, the company founded by Adolfo Babatz and Vilash Poovala plans to employ 320 people over the next 18 months with this investment.

With this rating, after the used car sales platform Kavak in October 2020 and the cryptocurrency exchange Bitso in May, Clip became the third Mexican startup to achieve a valuation of more than 1,000 million dollars in less than a year.