Mexico City based credit card startup raised $8m in Series A funding led by Magma Partners.
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Vexi raises $8m in Series A funding
“In Mexico, only 1 in 10 people have access to a credit card, generally because they earn less than what traditional banks require or because they work in the informal economy due to a lack of formal sources of employment,” Merlos said. “That is why we compete against cash and high-interest microcredits, rather than against those traditional banks.”
