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Albo

Can a Mexican neobank become the financial OS for both underbanked consumers and SMBs by stacking debit, credit, payroll, and crypto on a single IFPE license?

Founded2016
HQMexico City, Mexico
FoundersÁngel Sahagún
Total raised$112M+
Latest roundSeries C, 2023
IndustryFintech / Neobank
The story

Founded 2016 as a consumer-first Mexican neobank targeting the underbanked, with a Mastercard debit card and PFM app on its own IFPE license. Expanded into lending and insurance after the 2020 Series B, then pivoted into SMB banking by acquiring Delt.ai in 2023 — making it Mexico's only neobank offering both consumer and SMB debit + credit. Crypto (albit) and unsecured credit (abea) are now offered via separately-licensed sister entities, keeping the regulated IFPE balance sheet clean.

Last 12 months
2023-08
2023-09
Product timeline
2016
Founded in Mexico City as a consumer neobank offering Mastercard debit card and PFM app· banking
2019
Raised $26.4M Series A led by Valar Ventures; deployed FacePhi biometrics for KYC· banking
2020
Raised $45M Series B to expand into lending and insurance· lending
2023
Acquired Y Combinator-backed Delt.ai for $20M, adding SMB credit cards and business loans· acquisition
2023
Raised $40M Series C led by Morpheus Ventures; launched abea credit and albit crypto products· lending
Regulated entities
IFPE (Instituto de Fondos de Pago Electrónico)
Mexico (CNBV)
Inteligencia en Finanzas S.A.P.I. de C.V., IFPE
The stack
Payments / PSP
albo IFPE wallet (in-house)
Banking / BaaS
Inteligencia en Finanzas S.A.P.I. de C.V., IFPE (in-house)
Card issuing
albo (in-house, Mastercard licensee)
Lending
Aureo Lab, S.A. de C.V. (abea, affiliated non-regulated entity)abea — crédito simple (unsecured consumer loan)Delt.ai business loans (post-acquisition)Delt.ai SMB credit card
Crypto
Indigo DeFi, S.A. de C.V. (albit, affiliated entity)
Accounting gap: significant