Lowenstein Sandler represented global venture capital firm GGV Capital as lead investor in a $125 million over-subscribed Series C round in the credit card-led fintech Stori, closing one of the largest Series C equity financing rounds in Latin America to date.
Stori is building the top consumer fintech in Mexico, and is a leading digital financial service provider in Latin America, currently focused on expanding access to credit cards for mass-middle and emerging-middle income populations.
In the past eight months, Stori has already become a top issuer of new credit cards in Mexico. More than two million Mexicans have applied for a Stori credit card, and that number has grown by more than 10 times in the last twelve months. Over the next year, Stori has been committed to investing the total $200 million raised in Mexico to triple in size and broaden its suite of products in order to address customers' needs and fulfill its mission of democratizing financial access for millions of underserved consumers in the region.
The Lowenstein deal team included Carl J. Hessler, Ed Zimmerman, Juan B. Soto, Adam Dickson, and Stella Gore.
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