# Stori Card

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/stori-card

- Industry: Financial Services
- Headquarters: Mexico City, Mexico
- Website: www.storicard.com/
- Total disclosed funding: $218M
- Latest round: Series C (Jul 15, 2022)
- Investors on record: 10

## About

Stori Card is a Mexico-based financial services company focused on enhancing credit access and management for individuals with no prior credit history through innovative products such as credit cards and deposit accounts.Founded in 2018, Stori Card operates under the name Stori México, S.A. de C.V. in Mexico City, Mexico, providing financial services tailored to underserved populations. The company has successfully completed 11 funding deals, with the latest being a VENTURE DEBT round on August 6, 2024, raising USD 107.00 mn from Goldman Sachs Merchant Banking Division and Davidson Kempner Capital Management. Total funding raised amounts to USD 105.00 mn. The co-founders include Bill Wilkie, Bin Chen, Guangyu L, Manuel Riveroll, Marlene Garayzar, Mazie Martin, Nick Chen, and Sherman He, with Bin Chen serving as CEO.Stori offers a suite of financial products designed to enhance financial accessibility and facilitate credit management for individuals without prior credit history. The core offerings include credit cards, specifically the Stori Cashback card, providing users with cashback on all purchases, and various deposit accounts allowing customers to earn interest on their savings, with rates reaching up to 8.00%. These products empower users to build credit profiles, save money, and manage their finances conveniently through a mobile application, primarily targeting underserved segments in the Mexican market.Stori generates revenue through transaction fees associated with its credit card offerings and interest earned from deposit accounts. Users of the Stori Cashback card benefit from various incentives, while the company capitalizes on fees incurred during transactions made by cardholders. Stori also fosters strategic partnerships with retailers to enhance the value proposition for users, creating a direct-to-consumer model that simplifies financial transactions. The revenue streams illustrate Stori's commitment to empowering customers while maintaining a sustainable business model.In August 2024, Stori raised USD 107.00 mn in VENTURE DEBT funding, part of a larger USD 212.00 mn round, to support its continued growth and accelerate its financial service offerings. The company plans to design and launch new products to further enhance its service suite, although specific launch dates are not yet detailed. Additionally, Stori is looking to expand its market reach beyond Mexico into other Latin American regions, aiming for a broader presence by 2025.

## Funding rounds

- Series C, Jul 15, 2022, $50M — Lightspeed Venture Partners, General Catalyst Partners, Granite Asia, BAI Capital, Goodwater Capital, Vision Plus Capital, Tresalia Capital Private Equity, GIC
- Series C, Nov 11, 2021, $125M — Lightspeed Venture Partners, General Catalyst Partners, GIC, Granite Asia, BAI Capital, Goodwater Capital, Source Code Capital, Vision Plus Capital, Tresalia Capital Private Equity
- Series B, Feb 25, 2021, $33M — Lightspeed Venture Partners, Bertelsmann AG, Source Code Capital, Vision Plus Capital
- Series A, Feb 4, 2020, $10M — Bertelsmann AG, Source Code Capital, Vision Plus Capital

## Investors

- Bertelsmann AG — Series A, Series B
- Source Code Capital (https://capitalatlas.ai/funds/source-code-capital) — Series A, Series B, Series C
- Vision Plus Capital (https://capitalatlas.ai/funds/vision-plus-capital) — Series A, Series B, Series C
- Lightspeed Venture Partners (https://capitalatlas.ai/funds/lightspeed-venture-partners) — Series B, Series C
- General Catalyst Partners (https://capitalatlas.ai/funds/general-catalyst-partners) — Series C
- GIC — Series C
- Granite Asia (https://capitalatlas.ai/funds/granite-asia) — Series C
- BAI Capital (https://capitalatlas.ai/funds/bai-capital) — Series C
- Goodwater Capital (https://capitalatlas.ai/funds/goodwater-capital) — Series C
- Tresalia Capital Private Equity (https://capitalatlas.ai/funds/tresalia-capital-private-equity) — Series C