Mexican neobank Flink gains seed funding from Spanish firm Latina
Mexican neobank Flink has closed seed funding from Spanish fintech firm Latina, though neither firm has disclosed the figures involved.
Flink claims to be gaining 1,500 new users a week
Flink, one of a cadre of Mexican digital banks, was founded in June 2017. It claims to have accrued 100,000 customers and offers a mobile bank account and Mastercard-branded debit card.
The digital bank is targeting millennials, and includes features like expense classification, budgeting and savings goal-setting.
The neobank operates as a Popular Financial Society (sofipo), one of more than forty such institutions in Mexico.
“We believe that we cannot avoid the demand that currently exists around neobanks in the region,” says Oriol Ros, director of corporate development at Latina.
“That is the reason why we have decided to fund Flink on his way to becoming the preferred option of the new Mexican generations.”
Related: “Digital transformation will happen quicker in LatAM than Europe”
Latinia is both partner and investor, together with Visa, Scotiabank, HSBC Mexico, Banregio, and Ignia, of Startupbootcamp, the largest acceleration and scaling program for fintech startups in Latin America.
“We greatly value Latinia’s contribution not only financially, but also for its B2B experience in the financial industry and in the field of notifications,” says Sergio Jiménez, CEO from Flink, on the investment.
