Fintech
Mexican fintech Unicorn Clip announces $100 million investment
MEXICO CITY and NEW YORK, June 18, 2024 /PRNewswire/ — Clip, Mexico’s leading digital payments and commerce platform, today announced that it has secured a $100 million investment round from managed investment funds from Morgan Stanley Tactical Value (“MSTV”) and one of the largest and most experienced mutual fund managers on the West Coast. The investment enhances Clip in line with the Series D round concluded in 2021.
Since its inception in 2012, Clip has created a comprehensive portfolio of payments, financial services and software solutions specifically designed for small and medium-sized businesses (SMEs) in Mexico, becoming the country’s largest digital payments and business enablement platform by of the traders served. Clip currently offers products and services spanning software and hardware, which enable SMBs to grow their business by accepting digital payments, selling online, obtaining credit and streamlining their operations. Clip intends to leverage the new funding to accelerate product development initiatives for further growth in support of its mission to advance financial inclusion in Mexico through innovative technology solutions.
“The investment from these two world-renowned investors is a testament to Clip’s opportunity to continue leading the digital transformation of Mexico’s commerce ecosystem and, more broadly, provides further validation of our mission to open access to payments digital, financial services and technological solutions to all SMEs in the country”, said Adolfo Babatz, founder and CEO of Clip. “We are excited to leverage this round of funding to continue expanding and strengthening our offering to empower more stakeholders across the Mexican economy.”
Commenting on the investment, Pedro Teixeira, CEO and Co-Head of MSTV, said: “We are thrilled to begin our partnership with Clip after following the company for several years. Clip is a pioneer in leveraging new technologies to promote financial inclusion in Mexico We are pleased to partner with Adolfo and the Clip team to support the rapid and strategic growth of the business. Clip has a deeply experienced and passionate management team, a unique culture focused on providing a differentiated customer experience and a strong performance track record. We look forward to its continued momentum in democratizing payments.”
MSTV and the West Coast’s leading mutual fund manager join Clip’s core roster of investors that includes 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.
Clip information
Clip is the leading digital commerce and payments platform that enables Mexican businesses to interact and transact with their consumers more effectively through innovative technologies, world-class customer service and the ability to digitally accept all payment methods . The company has offices in Mexico City and Buenos Aires.
For more information please visit www.payclip.com OR www.clip.mx
Learn about Morgan Stanley’s tactical value
Morgan Stanley Tactical Value is the flexible, no-control private investment platform within Morgan Stanley Investment Management (MSIM). With a broad investment mandate across asset classes, sectors and geographies, Morgan Stanley Tactical Value is able to customize tailored solutions to meet unique strategic and financial objectives. The team’s experience, including deep structuring expertise, is complemented by Morgan Stanley’s extensive global network and capabilities to advance differentiated capital solutions for businesses, founders, sponsors and stakeholders.
For more information please visit www.morganstanley.com/im/tacticalvalue.
SOURCE Clip