Clip, Mexico’s leading digital payments and commerce enablement platform, today announced that it has secured an investment round of US$100 million from investment funds managed by Morgan Stanley Tactical Value (“MSTV”) and from one of the largest, most experienced West-Coast mutual fund managers. The investment values Clip in line with the Series D round completed in 2021.
Since its inception in 2012, Clip has built a complete portfolio of purpose-built payments, financial services and software solutions for small and mid-sized businesses (SMBs) in Mexico, becoming the country’s largest digital payments and commerce enablement platform by merchants served. Clip currently offers products and services spanning software and hardware, which enable SMBs to grow their business by accepting digital payments, selling online, obtaining credit and simplifying their operations. Clip intends to leverage the new funds to accelerate product development initiatives for further growth in support of its mission to drive financial inclusion in Mexico through innovative technology solutions.
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“The investment from these two globally renowned investors is a testament to Clip’s opportunity to continue to lead the digital transformation of Mexico’s commerce ecosystem, and more broadly, provides even further validation of our mission to open access to digital payments, financial services and technology solutions to all SMBs in the country,” said Adolfo Babatz, Clip’s Founder and CEO. “We are excited to leverage this financing round to continue to expand and strengthen our offerings to empower more stakeholders across Mexico’s economy.”
Commenting on the investment, Pedro Teixeira, Managing Director and Co-Head of MSTV, said: “We are excited to begin our partnership with Clip after following the company for several years. Clip is a pioneer in leveraging new technologies to drive financial inclusion in Mexico. We are delighted to partner with Adolfo and the Clip team to support the rapid, strategic growth of the business. Clip has a deeply experienced and passionate management team, a unique culture focused on delivering a differentiated customer experience, and a strong track record of performance. We look forward to its continued momentum in democratizing payments.”
MSTV and the leading West-Coast mutual fund manager join Clip’s premier list of investors which include General Atlantic, Ribbit Capital, Goldman Sachs, Softbank Latin America Fund, Viking Global Investors, Dalus Capital, Banorte, Televisa, Visa, Amex Ventures, Angel Ventures Mexico and Endeavor Catalyst, among others.
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