Fintech financial services company Clip managed to become a unicorn after receiving a $ 250 million investment from SoftBank and Viking.
“The investment is the largest ever made by a payment company in Mexico and establishes Clip with a valuation close to 2,000 million dollars,” the company said in a statement.
A company is considered a unicorn when it reaches a valuation of more than $ 2 billion with pure capital raising or with the combination of angel capital and income.
“We are very proud to be partners of two world-class investors such as SoftBank and Viking, achieving this important milestone for a Mexican company. Looking ahead, these resources will allow us to continue to grow aggressively and continue to build our operating platform”, Clip CEO Adolfo Babatz said in the statement.
Clip, which was founded in 2012, is a fintech dedicated to offering cheaper and easier-to-use credit and debit card readers.
“Clip is the exact type of disruptive company SoftBank is looking to invest in. Led by an incredible management team, Clip is using technology and artificial intelligence to disrupt the financial services industry by providing essential digital solutions for merchants and small business owners in Mexico, “said Marcelo Claure, CEO of SoftBank Group International and COO of SoftBank Group Corp.
Clip’s main investors are General Atlantic, Ribbit Capital, Goldman Sachs, Dalus Capital, Banorte and Amex Ventures among others
To date, Clipo has more than 600 collaborators in Mexico, the United States and Argentina. Clip has launched five devices dedicated to making electronic payments since its inception, in 2020 it launched a remote payment service, betting on contactless payments.
