Mexico Fintech Clip Signs $50 Million Credit Line to Fund Growth

Mexican fintech Clip secured a $50 million credit facility to keep growing its payment operations in the country where cash is still king.

The three-year, unsecured, revolving credit line with Morgan Stanley, JPMorgan Chase & Co. and HSBC will be used to meet demand for its white and orange point-of-sale terminals and to create new products in Mexico, Chief Executive Officer Adolfo Babatz said in an interview.

The credit facility and a funding round last year means the company’s financing needs have been met for now, Chief Financial Officer Mariano Carranza said in the interview. Clip is interested in eventually ...