MEXICO CITY, Sept 7 (Reuters) - Mexican fintech Stori on Thursday announced the acquisition of MasCaja, a financial firm that will provide it a license to broaden its product portfolio in a market where many lack access to financial services.
"We want to take the next step to boost financial inclusion," Stori co-founder Marlene Garayzar told Reuters.
Stori, which reached unicorn status last year, already offers credit cards with lines starting at 500 Mexican pesos ($28), in a country where government data shows less than 35% of the adult population has formal credit.
Earlier this year, Stori said it had reached 2 million users.
($1 = 17.5722 Mexican pesos)Reporting by Valentine Hilaire; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.
Persons:
Stori, Marlene Garayzar, Nubank, Valentine Hilaire, Leslie Adler
Organizations:
MEXICO CITY, Reuters, ABC Capital Bank, Thomson
Locations:
MEXICO, Mexico, Argentine