Mexican fintech Clip raises $250m in SoftBank-led investment
Mexican payments start-up Clip has received a $250 million investment led by the SoftBank Latin America Fund and Viking Global Investors LP.
The fintech offers a credit card reader that fits onto smartphones, allowing businesses to take payments
The fintech claims the investment is the largest ever for a payments company in Mexico and pushes the company’s valuation up to nearly $2 billion.
Clip CEO and founder Adolfo Babatz says the investment will allow the company to “continue to grow aggressively”.
Launched in 2012, the digital payment and commerce platform boasts clients in Mexico, the United States and Argentina.
Clip’s current list of investors also includes General Atlantic, Ribbit Capital, Goldman Sachs and Amex Ventures among others.
SoftBank has been busy on the investment front recently, leading a $639 million raise for BNPL firm Klarna last week. The firm also poured $250 million into banking tech start-up Zeta in May to push the company to unicorn status.
Marcelo Claure, CEO of SoftBank Group International and COO of SoftBank Group, said: “Clip is the exact type of disruptive company SoftBank looks to invest in.
“Clip is using technology and AI to disrupt the financial services industry by providing essential digital solutions to merchants and small business owners in Mexico, an economy that stands to benefit greatly from digital payments.”
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