Aplazo, an omni-channel payment platform based in Mexico, announced on May 13, 2024, the closing of $70 million in additional equity financing, including a $45 million Series B led by QED Investors. New investor Volpe Capital and existing investors Oak HC/FT, Kaszek, and Picus Capital also participated. Since its launch in late 2020, Aplazo has raised over $100 million in equity financing and $75 million in committed debt funding. The company plans to use the new capital to enhance its product offerings and drive innovation, including leveraging AI to better understand consumer and merchant needs.
Founded in 2020 by Angel Peña and Alex Wieland, Aplazo has become a significant player in the BNPL market, particularly in offline retail, which accounts for a large portion of Mexico’s retail sales. The platform allows 88% of Mexicans without credit cards to make purchases in installments. Aplazo’s approach has resulted in substantial benefits for partner merchants, including higher average order values and conversion rates. The recent financing will help Aplazo continue its mission to provide fair, transparent financial solutions and support its goal of becoming the preferred payment method in Mexico.
