Plata, a digital bank has secured $405 million in a Series C funding round led by Bicycle Capital and Qatar Investment Authority, valuing the company at $5 billion. This positions it as the highest-valued privately-owned digital finance institution in Latin America.
The company has demonstrated rapid growth, reaching $600 million in annualized revenue in under 36 months. It currently serves 3.5 million active credit card customers, with more than 750,000 individuals receiving their first-ever credit card through the platform.
A key milestone in its growth journey came in March 2026, when Plata launched full banking operations in Mexico under the name Banco Plata. This transition enables the company to accept retail deposits, reducing its cost of capital and providing a more stable base to expand its loan book.
“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.”
The fresh capital will support Plata’s continued expansion as it builds out its banking capabilities and scales its financial services offerings.
The fundraise also highlights renewed momentum in fintech investment across emerging markets, as companies demonstrate the ability to scale rapidly while expanding access to financial services.
