Cryptocurrency exchange delt.ai.
The Mexican neobank albo has paid $20 million to acquire the cryptocurrency exchange delt.ai. Albo has expanded its position in Mexico’s financial services sector as a result of this strategic purchase, becoming the only neobank in the country to offer debit and credit products to both consumers and small and medium-sized businesses.
Delt.ai was established in 2019 with headquarters in Mexico City, where it runs a corporate credit and spend management platform for SMEs in Mexico. It provides a financial platform in addition to credit cards and business loans. The company boasts that it has processed over 130,000 transactions and extended over $90 million in loans and credit lines to businesses through its platform.
The only neobank to offer debit and credit products
Albo is aiming to become “the only neobank to offer debit and credit products for both consumers and SMBs” in Mexico with this strategic purchase.
Albo, founded in 2016 and headquartered in Mexico City, provides a variety of banking options for individuals and businesses, including as checking and savings accounts, credit cards, payroll services, and even the opportunity to trade cryptocurrency. The business boasts over 2 million customers, a 3x increase in revenue, and over $5 billion in annual transactions.
Their workers can open a payroll account and take out a personal loan at the same time. That, and more, is what we can provide to clients and businesses after incorporating Delt.ai. Because of the convenience of having everything in one location, we will be able to minimize CAC, maximize RPC, and drastically cut down on client turnover.
[To share your insights with us, please write to sghosh@martechseries.com]
