Plata

Plata is a technology-led digital financial institution headquartered in Mexico City that operates Banco Plata, a fully regulated bank in Mexico. Founded in 2023 by Neri Tollardo, Danil (Daniil) Anisimov and other former executives of Russia's Tinkoff Bank, the company began with consumer credit products — credit cards, personal loans and buy-now-pay-later — before adding deposit and debit capabilities when it launched full banking operations in March 2026. Entrepreneur Oleg Tinkov and private equity investor Michael Calvey, co-founder of Baring Vostok, have advised the company since its launch, and both of their families are investors; Calvey sits on Plata's board.

The company received authorization from Mexico's banking regulator CNBV to operate as a bank, reported in February 2026, following an earlier banking license granted in late 2024. In July 2025 it obtained authorization to incorporate a Compañía de Financiamiento in Colombia, its first step outside Mexico. Plata reports more than 3.5 million active credit card customers, over $600 million in annualized revenue, an $800 million loan portfolio, and more than $2 billion raised in combined debt and equity. Its technology stack, including a proprietary core banking system, CRM and AI-based risk engine, was built in-house by a team of more than 800 STEM professionals.

Founding story

Plata was founded in 2023 in Mexico by Neri Tollardo, previously vice president for strategy at Tinkoff Bank, Danil Anisimov and other former Tinkoff executives, with backing and advice from Tinkoff founder Oleg Tinkov and Baring Vostok co-founder Michael Calvey. The founding team relocated to Mexico citing favorable regulatory and business conditions, visa and work permit policies, and demand for financial inclusion.

Business model

Plata operates a licensed, mobile-first retail bank in Mexico. It began with credit cards, personal loans and BNPL products and, after launching full banking operations in March 2026, added deposits and debit, giving it access to retail deposit funding. Plans described in sources include payroll services, debit accounts and SME lending. Funding has combined equity rounds with substantial debt facilities, including a $120 million senior unsecured bond placement and a Nomura-led facility of up to $500 million.

Revenue is generated from consumer lending and payments, principally credit cards and personal loans. The company reported approximately $25 million in monthly revenue at an earlier stage and surpassed $600 million in annualized revenue within three years of launch.

Traction

Plata grew from roughly 1 million active credit card customers in March 2025 to more than 3.5 million by April 2026, reached more than $600 million in annualized revenue in under three years, and grew its loan portfolio approximately 170% in 2025 to nearly 10 billion pesos ($563 million), later reported at $800 million. Headcount grew from about 100 to more than 3,000 employees since 2023.

Latest developments

In April 2026 Plata closed a $405 million Series C at a $5.0 billion valuation led by Bicycle Capital, with new investors Qatar Investment Authority, BTG Pactual and Valor Capital Group and existing investors Kora, Hedosophia, Spice Expeditions and Audeo Ventures; the round was described as multiple times oversubscribed. Marcos Kantt was appointed Chief Financial Officer, the company began full banking operations in March 2026, and shareholders are considering a potential initial public offering. Plata also appointed Michael S. Piwowar and John J. Sullivan as independent board members and secured $300 million in commitments from Oaktree, Macquarie Group, Fasanara Capital and Banco Covalto under a Nomura-led facility of up to $500 million.