Mexican digital bank Klar inks $100m credit facility from VPC

• Klar launched in 2019
• Based in Chicago, Victory Park Capital Advisors is a credit manager
• VPC was founded in 2007

Victory Park Capital has provided a $100 million credit facility to Klar, a Mexico City-based digital bank.

The financing will be used for growth and expansion.

Klar launched in 2019.

“VPC is committed to supporting Klar in its mission to enhance financial inclusion in Mexico,” said Jason Brown, a partner at VPC in a statement. “Klar has built a product that fully meets the needs of a market where credit access remains a challenge and has demonstrated its ability to successfully scale in Mexico. We believe strongly in Klar’s growth potential and look forward to partnering with them as they continue serving the unbanked and underbanked.”

Klar’s solutions for consumers include a credit card that offers cash back on all purchases, the ability to make mobile payments, and access to buy now, pay later services.

Based in Chicago, Victory Park Capital Advisors is a credit manager. The firm was founded in 2007.