Bloomberg Law
Sept. 6, 2022, 9:00 AM

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

Andrea Navarro
Andrea Navarro
Bloomberg News

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 ...

Learn more about Bloomberg Law or Log In to keep reading:

Learn About Bloomberg Law

AI-powered legal analytics, workflow tools and premium legal & business news.

Already a subscriber?

Log in to keep reading or access research tools.