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Aplazo raises USD 70 million in equity and Series B funding to support product development
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May 13, 2024
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May 13, 2024

Aplazo raises USD 70 million in equity and Series B funding to support product development

Funding

  • Mexico-based Aplazo, an omnichannel BNPL platform provider, has raised USD 70 million in equity funding led by QED Investors, with participation from Oak HC/FT, Kaszek, Picus Capital, and Volpe Capital. The funding includes USD 45 million from Series B funding. Aplazo's total funding now stands at USD 175 million.

  • The company plans to use the funds toward product development and innovation, including using AI capabilities to meet consumer and merchant needs and support decision-making.

  • Aplazo reported a 3x growth in revenue driven by expanding market share from online and offline merchants, along with strong financial performance and operating near breakeven over the past few months.

  • Analyst QuickTake: Aplazo’s USD 70 million funding comes after Ramp raised USD 150 million in Series D (last month) to accelerate AI integration and Colombia-based Addi raised USD 86 million in funding , comprising USD 36 million in equity and USD 50 million in debt funding from Goldman Sachs Group (two months ago) to support business expansion.

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