The Latin American financial sector is entering a transformative phase with the official expansion of the Mexican fintech unicorn, Stori, into the Colombian market. Valued at over US$1.2 billion, the company has already received formal authorization from the Financial Superintendency of Colombia to begin the process of establishing its local operations. This strategic move aims to replicate the firm’s massive success in Mexico, where it has already empowered over 3.7 million customers through specialized digital financial services.
Strategic Investment and Regulatory Milestones
To support this international venture, Stori has established an initial capital of 60 billion Colombian pesos (approximately US$15 million) to meet the nation's rigorous regulatory requirements for financial institutions. The company further plans to invest an additional US$100 million during its first few years in Colombia to build a robust technological and operational infrastructure. This significant capital injection demonstrates the unicorn's confidence in the Colombian economy as a primary destination for regional fintech growth throughout 2026.
The next phase of expansion involves securing a full operating license, which will allow the platform to offer a comprehensive array of banking services to the general public. Once approved, the fintech will introduce high-yield savings accounts, personal deposits, and a variety of specialized lending products tailored to the local market. These offerings will eventually include portfolio purchases and financial leasing, providing a modern digital alternative to the traditional banking institutions that currently dominate the landscape.
Financial Performance and Public Listing Goals
Stori’s arrival in Colombia comes at a time of remarkable financial performance, following a recent report of an 80% surge in its annual revenue. Having already achieved its sustainable profitability milestone, the startup stands out as a rare example of a fiscally healthy unicorn in the modern global technology sector. This strong financial position serves as the foundation for the company’s ambitious plan to launch its highly anticipated initial public offering later this year.
A central component of the brand’s identity is its accessible credit card, which targets individuals who have historically been overlooked by the legacy banking system. The card offers a range of competitive benefits, including cashback rewards, loyalty points, and significant discounts at popular retail and travel outlets. By pairing these perks with a mobile-first user experience, the company has successfully converted millions of unbanked users into active participants within the formal economy.
Visionary Leadership and Global Expertise
The company's leadership is anchored by CEO Bin Chen, whose extensive experience as a Vice President at Mastercard provides a deep understanding of complex global credit systems. Chen is supported by a diverse group of co-founders, including Guangyu Liu, Sherman He, Nick Chen, and the pioneering Mexican executive Marlene Garayzar. Their collective backgrounds at elite firms like the Boston Consulting Group have enabled the startup to scale rapidly while maintaining a focus on serving underserved populations.
Notably, Marlene Garayzar’s role as a co-founder marks a historic achievement as she is the first Mexican woman to lead a technology firm to unicorn status. Her presence highlights the startup's commitment to diverse leadership and its deep understanding of the unique socio-economic nuances inherent in the Latin American market. This specialized knowledge has been vital in designing financial tools that specifically address the unique pain points of the region’s emerging middle class.
Regional Impact and Market Modernization
The entrance of this Mexican powerhouse in 2026 signals a period of rapid modernization for the Colombian financial system and its digital infrastructure. By utilizing advanced artificial intelligence and specialized underwriting algorithms, Stori is prepared to challenge legacy banks and drive down the costs associated with personal credit. This increased competition is expected to result in a more transparent, efficient, and inclusive financial environment for all Colombian citizens across the country.
In conclusion, Stori’s strategic expansion into Colombia represents a significant milestone in the company’s journey toward total regional dominance. As the firm approaches its 2026 public listing, its ability to merge high-tech innovation with a mission for social equity remains its greatest competitive advantage. This move not only broadens the company’s international reach but also promises to reshape the future of financial services across the entire South American continent.