Galileo Welcomes Mexican Fintech Klar

Klar, Galileo’s first client in Mexico, is on a mission to democratize banking services. From its base in Mexico City, Klar offers alternatives to Mexico’s traditional credit cards and debit services, and is expanding financial services across all demographics—from the 50 percent of the Mexican population that is unbanked to consumers who already have bank accounts but are looking for a better option and a fabulous customer experience. Klar chose to partner with Galileo to address what the company’s CEO Stefan Möller calls, a phenomenal opportunity in Mexico. “Our partnership with Galileo is another big step towards building world class financial products tailored to the Mexican market,” he said. “We’re building Mexico’s most advanced financial services infrastructure and because of their quality and reliability, Galileo was the obvious partner.” Started less than a year ago, Klar has raised $57.5 million in seed funding, which—according to Crunchbase—is one of the largest seed rounds ever recorded in Mexico. Last week, Galileo announced it is the first API software innovator to secure Mastercard certification and launch as part of Mastercard’s Fintech Accelerator program in Mexico.

Click here to read more about what Galileo’s Mastercard certification means to meeting the growing consumer demand for digital financial services in Mexico.