Jump to content

Draft:Albo (bank)

From Wikipedia, the free encyclopedia
(Redirected from Draft:Albo)
  • Comment: It becomes hard to verify some contents (vital) on the draft because they are cited to an unreliable source. Begin with removing: Bloomberg Línea, Startups Latam, Startupeable, El Economista, and many. Also read about an organisation's notability. Safari ScribeEdits! Talk! 10:17, 4 September 2024 (UTC)
  • Comment: The title of this draft either has been disambiguated or will need to be disambiguated for acceptance.
    If this draft is accepted, the disambiguation page will need to be edited. Either an entry will need to be added, or an entry will need to be revised.
    The disambiguation page for the primary name is Albo (disambiguation). Robert McClenon (talk) 04:45, 19 May 2024 (UTC)
  • Comment: Please don't cite LinkedIn or PR Newswire, as these "sources" do not qualify as reliable, secondary sources in a Wikipedia context. --Johannes (Talk) (Contribs) (Articles) 19:54, 7 March 2024 (UTC)
albo
Company typeFintech
S.A.P.I DE C.V., IFPE
IndustryFinancial services
Founded2014
FounderÁngel Sahagún
Headquarters
Ciudad de Mexico
,
Mexico
ProductsMobile banking, debit, personal credit, payroll, business credit, cryptocurrencies
Websitewww.albo.com

albo is a Mexican financial technology company for individuals and businesses, authorised, regulated, and supervised by the Mexican National Banking and Securities Commission.[1] It was founded in Campeche, Mexico in 2016 and offers nationwide operations through a mobile app, a card, and a platform. [2]

History

[edit]

Albo was established in 2016[3], with entrepreneur Ángel Sahagún at the head of the institution. Sahagún currently holds the position of CEO of the company.[4]

After 6 years of operation at national level, in 2022 albo was officially recognised as a Fintech in the country, to be considered as an institution of electronic payment funds (IFPE).[5] [6]

This authorisation is granted by the Comisión Nacional Bancaria y de Valores (CNBV), which regulates the entities that make up the Mexican financial system. It allows the companies that receive it to operate as Electronic Payment Fund Institutions (IFPE), which fall within the framework of the law to Regulate Financial Technology Institutions, also popularly known as Fintech Law.[7]

Throughout its trajectory, the institution has been driven by business angels and seed funding.

The first mega round of investment was achieved in 2019, when $7.4 million was raised from institutional investors led by Mountain Nazca.[8] [9] At that time it already had 60,000 users in Mexico and albo was already established as a bank that was 100% digital, with Mastercard available for financial transactions without commission. [10]

The next mega investment round, Series B, came in 2020, this time raising $45 million.[11] [12] [13] On this occasion, Valar Ventures, Greyhound Capital, Mountain Nazca and Flourish Ventures showed their support for the entity as investment groups. [14] [15] [16] The bank then had half a million customers throughout Mexico and a network of 30,000 retail outlets for deposits. [17]

There was another round of investment in 2023, Series C, which raised $40 million with the participation of Morpheus Ventures, Valar Ventures and Nazca Ventures, among others.[18] [19] [20]

This investment was consolidated a few weeks after announcing the acquisition of delt.ai, which is focused on financing in the corporate sector and is valued at $20 million.[21] [22] [23]

In 2023 it raised its Series C investment round for $40m [24], with participation from Morpheus Ventures, Peter Thiel's Valar Ventures and Nazca Ventures, among others. This investment was consolidated a few weeks after announcing the acquisition of the firm delt.ai [25] [26], which is focused on financing in the entrepreneurial sector.

Services

[edit]

albo specialises in the issuance of international Mastercard and virtual cards, digitally managed through its own app. [27] [28] The mobile app is currently available for Android, iOS, and HarmonyOS 2 devices.

In 2022, the institution confirmed that its operational portfolio reached 2 million users. In the same year, it made the personal credit service available to its customers through its business partner abea.[29]

Also in 2022, albo launched the purchase and sale of cryptocurrencies for all interested users, this time through its business partner albit.

See also

[edit]

References

[edit]
  1. ^ "Albo ve en autorización fintech nueva etapa de madurez". Bloomberg Línea (in Spanish). 14 May 2022.
  2. ^ "Ángel Sahagún, fundador y CEO de albo: "Los founders tenemos que pensar más en rentabilidad"". Startups Latam (in Spanish). 28 September 2023.
  3. ^ "Startupeable - Albo". Startupeable (in Spanish). 9 February 2024.
  4. ^ "Los 9 innovadores mexicanos menores de 35 del MIT". Forbes (in Spanish). 4 October 2017.
  5. ^ "Albo, Medá y RhinoPay reciben autorización de la CNBV para operar". El Economista (in Spanish). 12 May 2022.
  6. ^ "Apostamos a construir la entidad financiera más grande de México: fundador de Albo". El Economista (in Spanish). 31 May 2022.
  7. ^ "Albo, Medá y RhinoPay reciben autorización de la CNBV para operar". El Economista (in Spanish). 12 May 2022.
  8. ^ "Fintech mexicana Albo levanta ronda de inversión por 7.4 mdd". El Financiero (in Spanish). 14 January 2019.
  9. ^ "Albo recauda 7.4 mdd para ayudar a los mexicanos a tener finanzas sanas". Forbes (in Spanish). 23 January 2019.
  10. ^ "La start-up Albo protagoniza la primera mega ronda de inversión de 2019". Expansión (in Spanish). 14 January 2019.
  11. ^ "Mexican challenger bank albo raises $45 million to expand". Tech Crunch. 8 December 2020.
  12. ^ "Mexican challenger albo raises $45m in Series B funding round". Fintech Futures. 17 December 2020.
  13. ^ "Mexico based Digital Bank albo Secures $45 Million in Capital to Expand Operations into Lending and Insurance Services". Crowdfund Insider. 9 December 2020.
  14. ^ "La start-up Albo protagoniza la primera mega ronda de inversión de 2019". Expansión (in Spanish). 14 January 2019.
  15. ^ "México: albo levanta inversión de USD 45 millones". TyN Magazine (in Spanish). 29 December 2020.
  16. ^ "Albo, Heru y Nelogica cierran rondas de inversión; BBVA se asocia con Xiaomi". Iupana (in Spanish). 11 December 2020.
  17. ^ "El neobanco mexicano Albo consigue 45M$ en una nueva ronda de inversión". El Referente. 15 December 2020.
  18. ^ "Albo raises USD$40 million in Series C investment round". Contxto. 18 October 2023.
  19. ^ "Neobank Albo taps $40M in series-C round to expand SME products". Fintech Nexus. 17 October 2023.
  20. ^ "Mexican neobank Albo raises $40m in Series C funding round". Fintech Futures. 29 September 2023.
  21. ^ "albo, the Mexican Neobank, Acquires delt.ai for USD $20M, Strengthening Its Offer for Consumers and SMEs". Contxto. 8 August 2023.
  22. ^ "Mexican challenger Albo snaps up Delt.ai for $20m". Fintech Futures. 7 August 2023.
  23. ^ "Albo acquires Delt.ai for $20M". LatamList. 3 August 2023.
  24. ^ "Albo cierra ronda por 40 millones de dólares para ser rentable en 2024". El Economista (in Spanish). 26 September 2023.
  25. ^ "Albo adquiere empresa tecnológica delt.ai por $20 mdd". IT Masters Mag (in Spanish). 7 August 2023.
  26. ^ "albo se Fortalece en el Mundo FinTech con la Adquisición de delt.ai". DÍA FINTECH (in Spanish). 8 August 2023.
  27. ^ "¿Qué es la tarjeta garantizada albo?". Ikiwi (in Spanish). Retrieved 9 February 2024.
  28. ^ "Albo Ayuda - Qué es Albo". Albo Ayuda (in Spanish). Retrieved 9 February 2024.
  29. ^ "Albo: ¿Debes seguirla usando en el 2023?". Fintech Futuro (in Spanish). 26 November 2023.
Retrieved from "https://en.wikipedia.org/w/index.php?title=Draft:Albo_(bank)&oldid=1243965376"