Albo

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|

albo

Type

| Fintech

|

Traded as| S.A.P.I DE C.V., IFPE
Industry| Financial services
Founded| 2014
Founder| Ángel Sahagún
Headquarters|

Ciudad de Mexico

Mexico

Products| Mobile banking, debit, personal credit, payroll, business credit, cryptocurrencies
Website| www.albo.com

albo is a Mexican financial technologycompany for individuals and businesses, authorised, regulated, and supervised by the Mexican National Banking and Securities Commission. [1] It was founded in Campeche, Mexico in 2016 and offers nationwide operations through a mobile app, a card, and a platform.

## Contents

* 1 History
* 2 Services
* 3 See also
* 4 References
* 5 External links

## History[edit]

Albo was established in 2016, with entrepreneur Ángel Sahagún at the head of the institution. Sahagún currently holds the position of CEO of the company.[2]

After 6 years of operation at national level, in 2022 albo was officially recognised as a Fintech in the country, to be considered as an institution of electronic payment funds (IFPE).[3]

Throughout its trajectory, the institution has been driven by business angels and seed funding, raising investment rounds from $7.4 million in 2019 to $45 million in 2020.[4] [5] [6] [7] [8]

In 2023 it raised its Series C investment round for $40m [9], with participation from Morpheus Ventures, Peter Thiel's Valar Ventures and Nazca Ventures, among others. This investment was consolidated a few weeks after announcing the acquisition of the firm delt.ai [10] [11], which is focused on financing in the entrepreneurial sector.

## Services[edit]

albo specialises in the issuance of international Mastercard and virtual cards, digitally managed through its own app.

In 2022, the institution confirmed that its operational portfolio reached 2 million users. In the same year, it made the personal credit service available to its customers through its business partner abea.[12]

Also in 2022, albo launched the purchase and sale of cryptocurrencies for all interested users, this time through its business partner albit.

The mobile app is currently available for Android, iOS, and HarmonyOS 2 devices.

## See also[edit]

* Neobank
* Fintech

## References[edit]

1. ↑ "Albo ve en autorización fintech nueva etapa de madurez". Bloomberg Línea (in español). 14 May 2022.
2. ↑ "Los 9 innovadores mexicanos menores de 35 del MIT". Forbes (in español). 4 October 2017.
3. ↑ "Albo, Medá y RhinoPay reciben autorización de la CNBV para operar". El Economista (in español). 12 May 2022.
4. ↑ "Fintech mexicana Albo levanta ronda de inversión por 7.4 mdd". El Financiero (in español). 14 January 2019.
5. ↑ "Albo recauda 7.4 mdd para ayudar a los mexicanos a tener finanzas sanas". Forbes (in español). 23 January 2019.
6. ↑ "La start-up Albo protagoniza la primera mega ronda de inversión de 2019". Expansión (in español). 14 January 2019.
7. ↑ "México: albo levanta inversión de USD 45 millones". TyN Magazine (in español). 29 December 2020.
8. ↑ "Albo, Heru y Nelogica cierran rondas de inversión; BBVA se asocia con Xiaomi". Iupana (in español). 11 December 2020.
9. ↑ "Albo cierra ronda por 40 millones de dólares para ser rentable en 2024". El Economista (in español). 26 September 2023.
10. ↑ "Albo adquiere empresa tecnológica delt.ai por $20 mdd". IT Masters Mag (in español). 7 August 2023.
11. ↑ "albo se Fortalece en el Mundo FinTech con la Adquisición de delt.ai". DÍA FINTECH (in español). 8 August 2023.
12. ↑ "Albo: ¿Debes seguirla usando en el 2023?". Fintech Futuro (in español). 26 November 2023.

## External links[edit]

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