Clip bags USD 100 mln in funding


Mexico-based digital payments and commerce enablement platform Clip has raised USD 100 million in funding to support growth plans

Mexico-based digital payments and commerce enablement platform Clip has raised USD 100 million in funding to support growth plans. Clip’s backers included investment funds managed by Morgan Stanley Tactical Value(MSTV) and West-Coast mutual fund managers.

The investment values Clip in line with the Series D round completed in 2021, when it raised USD 250 million. The company intends to use the new funds to accelerate product development initiatives for further growth. On a mission to augment operations for SMEs Founded in 2012, Clip has built a complete portfolio of purpose-built payments, financial services, and software solutions for small and mid-sized businesses (SMBs) in Mexico.

The company currently offers products and services spanning software and hardware, which enable SMBs to grow their business by accepting digital payments, selling online, obtaining credit, and simplifying their operations. MSTV and the West-Coast mutual fund manager joined Clip’s list of investors which include General Atlantic, Ribbit Capital, Goldman Sachs, Softbank Latin America Fund, Viking Global Investors, Dalus Capital, Banorte, Televisa, Visa, Amex Ventures, Angel Ventures Mexico, and Endeavor Catalyst, among others. What does Clip do? Founded in 2012, Clip was born with the mission of helping businesses obtain digital payment solutions.

The company made its first transaction in 2013 and since then has been a prominent player in the fintech sector in Mexico as a provider of payment solutions for hundreds of thousands of businesses. Over the years, Clip has introduced several new products and expanded its services to enable businesses to digitise their operations. In 2021, it achieved unicorn status, with a valuation close to USD 2 billion, after a USD 250 million investment from Softbank and Viking.

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Jun 19, 2024 13:11
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