albo strengthens its position as the leading challenger bank in Mexico through a historic $19M funding round

albo, the leading challenger bank in Mexico, closed an extension of its Series A funding round for $19M million, adding up the Series A round in a total of $26M. The action was led by Valar Ventures, a US capital fund, which chose albo to make its first foray into the mexican market, a milestone for the country's fintech ecosystem. "Series A which was raised $7.4M USD at the beginning of the year, allowed us to grow rapidly and place ourselves as sector leaders for challenger banks, position that attracted  funds such as Valar, whose vision has led them to invest for the first time in Mexico; Valar is a firm with great experience in the fintech environment, as it has invested in successful companies such as Transferwise and N26, so for us it is a sign that we are on the right track," explained Ángel Sahagún,  albo's CEO and founder.