Mexico-based fintech, Clip, has completed an investment round worth $100m. The investment values Clip in line with the Series D round completed in 2021.

Since its inception in 2012, Clip has built a complete portfolio of purpose-built payments, financial services and software solutions for small and mid-sized businesses (SMBs) in Mexico. In the process, it has become the country’s largest digital payments and commerce enablement platform by merchants served.

Clip currently offers products and services spanning software and hardware. This enable SMBs to grow their business by accepting digital payments, selling online, obtaining credit and simplifying their operations.

Clip mission: to drive financial inclusion in Mexico through innovative technology solutions

Clip intends to leverage the new funds to accelerate product development initiatives for further growth. This will support its mission to drive financial inclusion in Mexico through innovative technology solutions.

“The investment from these two globally renowned investors is a testament to Clip’s opportunity to continue to lead the digital transformation of Mexico’s commerce ecosystem. More broadly, it provides even further validation of our mission to open access to digital payments, financial services and technology solutions to all SMBs in the country,” said Adolfo Babatz, Clip’s Founder and CEO.

“We are excited to leverage this financing round to continue to expand and strengthen our offerings to empower more stakeholders across Mexico’s economy.”

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Pedro Teixeira, MD and co-head of MSTV, added: “We are excited to begin our partnership with Clip after following the company for several years. Clip is a pioneer in leveraging new technologies to drive financial inclusion in Mexico. We are delighted to partner with Adolfo and the Clip team to support the rapid, strategic growth of the business.

“Clip has a deeply experienced and passionate management team. Its unique culture is focused on delivering a differentiated customer experience, and a strong track record of performance. We look forward to its continued momentum in democratising payments.”

The two new investors join Clip’s list of investors including General Atlantic, Ribbit Capital, Goldman Sachs, Softbank Latin America Fund, Viking Global Investors, Dalus Capital, Banorte, Televisa, Visa, Amex Ventures, Angel Ventures Mexico and Endeavor Catalyst, among others.