Stori company profile: valuation, funding & revenue

This Stori company profile covers the company's valuation, revenue, funding rounds, investors and history. Stori works in fintech, with a focus on consumer credit cards and digital savings. It was founded in 2018 and is headquartered in Mexico City, Mexico. Its latest valuation on record is US$1.2 billion (July 2022). Every figure links to a public source, and anything the company hasn't disclosed is marked as such.

Revenue

Funding history

Stori timeline

Key dates from the sources on this page, oldest first. Metric snapshots are listed after the funding events.

• 2018 — Stori is founded in Mexico City by Bin Chen (CEO) and Marlene Garayzar.
• Jul 2022 — Series C-2: US$50M equity plus US$100M debt, valuing the company at US$1.2B. Investors: BAI Capital, GIC, GGV Capital (equity co-leads).
• 2024 — Equity and debt round: US$212M (about US$105M equity, US$107M debt). Investors: Notable Capital and BAI Capital (equity leads); Goldman Sachs and Davidson Kempner (debt).

Investors

Overview

Stori offers credit cards and digital savings accounts to people in Mexico who have little or no access to traditional banking. Many Mexicans have never had a credit card or have thin credit files, which makes banks reluctant to lend to them. Stori uses data and technology to approve customers who would typically be rejected, starting them with modest credit limits that grow as they show responsible use. Its app also offers a high-yield savings account, Stori Cuenta+, and other financial services. Stori became Mexico's ninth unicorn in 2022.

Bin Chen, the CEO, and Marlene Garayzar founded Stori in 2018. Stori is headquartered in Mexico City, with technology teams in several countries.

Products

• Stori credit card: a Mastercard credit card aimed at first-time and underserved borrowers, managed through an app.
• Stori Cuenta+: a digital savings and payments account offering interest on deposits.
• Credit-building tools: features that help customers understand and improve their credit profiles.
• Additional services: personal loans and other products for qualifying customers.

Funding

Stori raised from investors including Lightspeed Venture Partners, Vision Plus Capital, GGV Capital (now Notable Capital), BAI Capital and GIC. In July 2022 it raised US$50 million in equity at a US$1.2 billion valuation, co-led by BAI Capital, GIC and GGV, alongside US$100 million in debt financing. In 2024 it announced a US$212 million raise comprising about US$105 million in equity, led by Notable Capital and BAI, and a US$107 million debt facility from Goldman Sachs and Davidson Kempner; the 2024 valuation wasn't disclosed. We use the 2022 figure.

Business model

Stori earns interest on credit card balances, interchange fees when cards are used, and fees, while deposits in Stori Cuenta+ provide a source of funding and customer engagement. The key to profitability is underwriting: approving customers who will repay, setting appropriate credit limits and managing collections. Debt facilities fund the credit it extends. The company doesn't publish revenue, so we show it as not disclosed.

Competition

Stori competes with Nubank, which has become one of Mexico's largest credit card issuers; with Mercado Pago, Klar, Plata and other digital lenders; with traditional banks; and with retail credit offered by department stores. Its focus on first-time credit users and its underwriting experience are its main differentiators.

Stori at a glance

Stori is a Mexico City fintech founded in 2018 by Bin Chen and Marlene Garayzar. It offers credit cards and savings accounts to underbanked Mexican consumers. It was valued at US$1.2 billion in July 2022 and raised US$212 million in equity and debt in 2024, led on the equity side by Notable Capital and BAI.

Timeline

• 2018: founded in Mexico City.
• 2019–2021: launches its credit card and raises venture funding.
• July 2022: becomes a unicorn at US$1.2 billion.
• 2023: expands Stori Cuenta+ savings.
• 2024: raises US$212 million in equity and debt.

Financial inclusion in Mexico

A large share of Mexican adults don't have a formal bank account or credit card, and many rely on cash. Banks have traditionally focused on wealthier customers, and borrowing outside formal channels can be very expensive. Digital lenders, aided by smartphone adoption and new data sources, have begun to reach underserved customers. Responsible lending matters: credit can help people build financial security, but poorly designed products can trap borrowers in debt. Regulators watch interest rates and practices closely.

How underwriting thin-file customers works

Lenders without long credit histories to rely on look at alternative information, such as phone usage, income patterns, bank transactions or employment data, where permitted by law and with consent. They often start customers with small limits and raise them as customers repay. Machine learning models help predict risk, but lenders must continuously monitor performance, especially when economic conditions change.

Who uses Stori

Stori's customers are mainly young and working Mexicans getting their first credit card, people rebuilding credit after past problems, and savers looking for better interest rates than traditional accounts offer.

Risks

• Credit losses: lending to thin-file customers carries higher default risk.
• Competition: Nubank and other well-funded players compete for the same customers.
• Funding costs: interest rates affect the cost of debt facilities.

Why credit cards are the entry point

For many consumers, a credit card is the first formal credit product they use, and it helps build a credit history that can later unlock car loans, mortgages and better rates. In Mexico, credit card penetration has historically been low compared with countries such as the United States. Starting customers on cards with modest limits lets lenders observe repayment behaviour over time and gradually extend more credit. Stori's model is built around this progression, aiming to keep customers for many years as their financial lives develop.

Deposits and the path to a bank-like model

Lenders that rely only on wholesale debt facilities face higher funding costs than banks, which can fund loans with customer deposits. Stori Cuenta+ gives it a deposit base, and the company has pursued regulatory approvals that allow it to offer more banking-like services. Building deposits reduces funding costs over time but brings stricter regulation and capital requirements.

Questions for consumers

• What interest rate and fees apply, and how do they compare with other cards?
• How can your credit limit increase over time?
• How are deposits protected?

Valuation context

Stori's 2024 equity raise came without a disclosed valuation, after a period when many fintech lenders raised at flat or lower prices. Investors in consumer lenders focus on credit losses, funding costs and growth in profitable customers.

Latest developments (October 2026)

Stori, the Mexican credit card provider for people with thin credit histories, launched a co-branded card with pharmacy chain Farmacias Similares in July 2026, according to a press release listed by Owler. The company says it serves more than three million customers. No new equity round has been announced since its 2022 raise at US$1.2 billion. See our consumer lending fintech guide.

What to watch

Watch credit quality, deposit growth, new funding and competition with Nubank. Our guide to the largest Latin American startups gives wider context.

Takeaways

Underbanked Mexicans can access first credit and savings through an app. Founders can see the importance of underwriting in consumer lending. Investors should note the 2024 round's valuation wasn't disclosed.

Sources

Every figure on this page comes from the public sources below. Where sources disagreed, we used the company's own announcement or a primary news report. Private-company data changes; check the date beside each figure.

1. TechCrunch
2. Fintech Global