The app seeks to train and support users in managing their finances with more than 500,000 downloads projected in the first year
Mexican startup Stori announced its arrival in Colombia after its success in Mexico, where it has reached more than 3 million customers in just 4 years.
Valued at over $1 billion and recognized as the first Mexican unicorn co-founded by a woman, Stori is committed to financial inclusion.
"Stori was born with the mission of not leaving anyone behind in the financial system and saying yes to all those people who have been constantly and at different stages told no by the traditional market. Under our motto (freedom, tranquility, Stori), we believe in the power of technology and financial inclusion to transform lives and we are committed to driving the development of the digital ecosystem in Colombia. This country has enormous potential, and we are ready to offer our solutions to those people who have not been served by the traditional banking sector," said Marlene Garayzar, Chief Governance Officer of Stori .
Stori's S Card is positioned as an essential tool for millions of Colombians, especially those excluded by traditional banking. It offers credit lines from 200,000 Colombian pesos, regardless of credit history.
Stori also seeks to empower users in managing their finances. It will launch its app to the public in September and expects 500,000 downloads in the first year.
To lead this major undertaking, the company has appointed Carlos José Ayalde as its general manager. With more than 15 years of experience in the financial and technology industry, Ayalde has played key roles in various leading companies, both in the country and abroad.
“We have ambitious growth plans in Colombia, with an investment of 100 million dollars in the next 3 years. After transforming access to credit in Mexico, where our card was the first for 80% of our clients, we now seek to offer solutions that improve the lives of those who need it most in Colombia,” said Carlos José Ayalde, general manager of Stori Colombia.
Stori employs an advanced risk assessment model, using sophisticated algorithms and emerging technologies such as Machine Learning and Artificial Intelligence.
In addition, the company incorporates gamification strategies to educate users and improve their credit history in an attractive and interactive way.
Looking ahead, Stori has a vision to serve more than 100 million Latin Americans, offering inclusive and accessible financial products and services that foster economic stability and personal development. The investment in Colombia will not only boost local economic development, but will also contribute to the advancement of the country's digital ecosystem.
Recently, Stori secured a new round of investment totaling US$212 million, comprised of US$105 million in equity led by Notable Capital and BAI, and US$107 million in debt financing provided by Goldman Sachs and Davidson Kempner Capital Management LP.
