Funding Round attributes
Albo founded in 2016 in Mexico by Ángel Sahagún and José de la Luz López is a neobanco that offers digital financial solutions, accessible and transparent to its users. Its platform allows individuals and businesses to manage their finances easily, offering services such as bank accounts, debit cards, and more recently, credit products. Recently, in 2024, Albo secured a $60 million line of credit from SixPoint Capital.
This credit line will be used to continue boosting its credit products for both individual users and companies, aiming at profitability by 2025. One of its main objectives is to improve access to credit for small and medium-sized enterprises (SMEs), a key sector in the economic development of Mexico. It will also focus on further developing products for individual users, helping to increase financial inclusion in the country. The startup has also said it will invest in technology to improve user experience and ensure security in transactions.
"This line of credit accelerates our path to profitability, allowing us to quickly scale our credit products for individuals and companies," said Ángel Sahagún, Founder and CEO of Albo.
"We are very excited about our partnership with Sixpoint Capital," a B2B platform based in the US. "The $60 million debt line will allow us to further expand our successful lending model for businesses and individuals in Mexico, leveraging the already broad client base that albo has as a group," said José de la Luz López, COO of albo.
The participation of SixPoint Capital Management is key because it reinforces market confidence in Albo’s business model. Unlike a traditional round of capital, this line of credit allows Albo to raise the necessary resources without diluting ownership of the company. This type of financing is strategic for startups looking to scale quickly while maintaining operational control. In addition, the relationship with an investor like SixPoint Capital provides not only financial capital but also institutional backing and credibility to other potential investors.
Albo is a fully digital neobanco that provides bank accounts and credit solutions to more than 3 million customers in Mexico. It focuses on providing financial services accessible through an intuitive mobile app. Uses technologies such as artificial intelligence and data analysis to personalize services, providing users with financial solutions tailored to their needs. With this approach, Albo seeks not only to facilitate access to banking products but also to empower individuals and companies in making more informed financial decisions. Albo’s mission is to be the bridge between people and a better relationship with money, particularly in a country where financial inclusion remains a challenge.
The financial backing of SixPoint Capital Management not only provides Albo with the capital it needs to continue growing but also marks a milestone in the evolution of the fintech ecosystem in Mexico. This investment underscores the confidence in Albo’s ability to achieve profitability by 2025, and its ability to transform the way Mexicans manage their finances. With this support, Albo is in a strong position to consolidate as a leader in the fintech sector and continue expanding its influence in the Latin American market.
