Latin Amercia roundup: Klar, Mexico’s newest challenger bank, raises $57.5 million from U.S. investors

Written by: James Sagan
Date: October 16, 2019

Mexican challenger bank Klar, a Chime clone, recently raised over $57.5 million in debt and equity in one of Mexico’s largest seed rounds. The $50 million credit line came from San Francisco’s Arc Labs, while Quona Capital led the $7.5 million equity round with support from Santander InnoVentures, aCrew Capital, FJ Labs and Western Technology Investment.

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James Sagan
Klar Raises $57.5M In Debt & Equity To Become The ‘Chime of Mexico’

Written by: Francis Shih
Date: September 24, 2019

Klar, a Mexico City-based startup that wants to democratize banking services in Mexico, has raised $57.5 million in debt and equity seed funding with the goal of becoming the “Chime of Mexico,” among other things.

Specifically, the digital banking startup raised $7.5 million in equity and $50 million in debt financing, the debt portion being provided by Arc Labs.

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Heather Shaw
Interview: 3 Questions with Francis Shih of Arc Labs

Publication: FintekNews
Date: December 6, 2018

FintekNews is pleased to offer our readers our “3 Questions With…” column, where we chat with a thought leader within a unique sector of fintech and ask them to answer just 3 questions for our audience in their vernacular. This week, we’d like to introduce you to Francis Shih of Arc Labs.

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Francis Shih
PayJoy Raises $20 Million In Debt Financing From Arc Labs To Bring Smartphones And Credit To The Underbanked In Mexico

Publication: PRNewswire
Date: November 1, 2018

PayJoy, a company leading credit access in emerging markets via smartphone financing, signs a $20 million debt-financing deal with Arc Labs, a venture partner to innovative companies serving the underbanked. PayJoy's patented, pay-as-you-go financing system helps consumers with not only mobile device financing, but also unsecured lending, by using a customer's phone for underwriting data and as collateral. PayJoy will use the funding from Arc Labs to spread financial inclusion and alternative financing options nationwide in Mexico.

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Francis Shih