In a recent update, Banco Plata announced commitments from Oaktree, Macquarie Group, and Fasanara Capital as well as Banco Covalto to a private credit facility of a maximum of $500 million, initially executed in December 2025 and led by Nomura. With this, $300mn financing for digital banking in Mexico is now a reality.
The new commitments are an extension of initial participation by Nomura and are designed to enhance the funding profile of the company as it embarks on its next phase of expansion.
It is well to be noted that this $300mn financing for digital banking in Mexico follows two major landmarks for the company. Banco Plata began full banking activities in Mexico in March 2026, and its parent company just closed a $405 million Series C financing round at a $5 billion valuation. The extra institutional debt capital improves the diverse funding strategy of the company, which is a mix of equity and customer deposits as well as institutional financing, remarked the company.
Plata intends to use the proceeds to aid in the continued growth of its banking activities across Mexico. The company said expanding its capital base happens to be a major part of its plan for long-term expansion as it expands its services along with its client base.
Interestingly, Plata was founded three years back and has become a technology-driven financial institution with more than 4 million active customers. The company has raised over $2B when it comes to debt and equity financing and built its own proprietary technology stack, which includes a core banking system, a platform related to customer relationship management and an AI-driven risk engine. It built its technology infrastructure in-house with a team of over 800 STEM professionals.
The lenders are a diverse array of institutional investors and financial organisations. Oaktree manages around $224 billion in assets and is known for its alternative investment approaches in credit and equity as well as real estate.
Fasanara Capital is an asset manager with over $4 billion in assets under management, specializing in fintech lending investments while encouraging over 140 fintech lenders in more than 60 countries. Banco Covalto, on the other hand, is a Mexican digital bank serving small- and mid-sized enterprises and mid-market companies with lending, banking, and payments as well as analytics solutions.
Plata stated the fact that these institutions joining the facility indicates a growing trust in the business model of the company and its funding structure as it aims to establish one of the leading digital banking platforms in Latin America.
