Mexican fintech Stori hits unicorn status after $150 million round

Stori funders Sherman He, Marlene Garayzar, Bin Chen, GY Liu and Nick Chen pose for a photo in Mexico City, Mexico, in this handout distributed to Reuters on July 14, 2022. Stori/Handout via REUTERS

MEXICO CITY (Reuters) - Fintech Stori, which lends to many Mexicans who do not have bank accounts, became the second Mexican start-up in 2022 to achieve a valuation of more than $1 billion, giving it "unicorn" status, after a $150 million series C funding round, the company said on Friday.

Stori reached a valuation of $1.2 billion with the round, led by BAI Capital, Singapore's GIC and GGV Capital. Lightspeed Venture Partners, General Catalyst, Vision Plus Capital, Goodwater Capital and Tresalia Capital also participated.