Mexico’s Fintech Konfio Raises Series E Extension

Mexico’s fintech Konfio raises $110 million in a Series E extension round and reaches unicorn status with valuation of $1.3 billion.

Mexico’s fintech Konfio raises $110 million in a Series E extension round and reaches unicorn status with valuation of $1.3 billion. The fresh round was pushed by SoftBank Group International with participation of KASZEK, Tarsadia Capital and QED Investors.

Mexico’s increased number of #unicorns journey began with used-car platform Kavak.com last year and was followed by cryptocurrency platform Bitso and payments company Clip. 

The original Series E was backed Lightrock, a global impact fund focused on growth equity, and followed by Softbank, Kaszek, QED Investors, VEF and IFC. in the amount of $125 million.

Founded in 2013, Konfio provides credit to smaller companies that are often under-served by traditional banks. The fintech will use the fresh capital to expand its product offering and to look for acquisition opportunities, the company said in a statement.

The Esquires

Gunderson Dettmer acted as legal counsel to Konfio in this Series E Extension round.

The Gunderson deal team was led by partner Daniel Green (Picture) and associates Bradley Krack, Daniel Gallo Mainero, Travis Glock and paralegal Maria Jose Brinton. Gunderson Dettmer is a full service law firm with nine offices around the globe. Dan Green’s team is highly recognized for its work in Latin America

Carey Olsen acted as international legal counsel to Konfio.

The Carey Olsen team was led by partner Alistair Russell, assisted by associate Emily Cornhill. Carey Olsen is a leading offshore law firm advising on Bermuda, British Virgin Islands, Cayman Islands, Guernsey and Jersey laws across a global network of nine international offices.