Photo: Tarjeta de crédito – app. By: Marco Verch. Source: CC – Flickr.
Bertelsmann Asia Investments (BAI) and Vision Plus Capital are two Chinese private equity firms, established in 2008 and 2015, respectively. They specialize in investing in early-stage projects, with a view to developing them to reach “unicorn” status, i.e., attaining a valuation of $1 billion USD without being listed on the stock exchange.
Stori, a Mexican developer of financial technology products founded in 2018 by a group of Mexican and Chinese entrepreneurs, which recently achieved unicorn status, was the latest investment by these two Chinese companies. The company’s strongest product has been its electronic credit card, launched after its market research showed a large number of unbanked people with digital payment needs. The company has been strongly backed by BAI and Vision Plus Capital, among other U.S., Chinese, and Singaporean investors, and has achieved more than one million users in Mexico. As a result, it intends to expand throughout the region.
Top story:
Contxto: Stori, fintech mexicana conocida por su tarjeta de crédito digital, es el nuevo unicornio de LatAm.
Find out more:
The Low Down – Momentum: Cómo Vision Plus Capital apoyó a la fintech mexicana Stori, que acaba de recaudar $ 200 millones.
Bai Capital website: BAI Capital at a Glance – ABOUT.
Unicorn Nest: Bertelsmann Asia Investments.
Vision Plus Capital website: about us.