Lowenstein Sandler represented one of the co-lead investors in Stori, the pioneering Mexican startup dedicated to revolutionizing consumer finance with a suite of groundbreaking products and services, in a new round of equity and debt financing totaling $212 million, considered one of the largest financing rounds in Latin America in 2024.
The financing includes $105 million in equity; and $107 million in new debt financing. This investment represents a step up in valuation over the previously announced unicorn round.
This latest injection of capital will accelerate Stori's progress towards its mission of democratizing access to quality financial services for the often-underserved middle mass population in Latin America. The funding will support the introduction and scaling of new and existing products, further strengthening Stori's leadership position in Mexico. With 3 million loyal users, Stori is expecting continued rapid growth with this financing.
In 2020, Stori launched its first credit card product aimed to provide financial freedom and peace of mind to those customers overlooked by the traditional banking system. As the only credit card in Mexico with a 99% approval rating, customers love Stori for its user-friendly experience, educational platform, and its ability to help them build credit. In 2022, Stori became the first Mexican unicorn co-founded by a woman. In October 2023, following the approval of its Sofipo regulatory license, the company announced Stori Cuenta+, a deposit account offering a market-leading yield, catalyzing a revolution in Mexico of helping savers of all income-classes earn more.
The Lowenstein deal team included Chandra K. Shih, Juan B. Soto, and Spencer Kau.
