A MILLION THANKS FOR A MILLION STORIANS

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Mar 29, 2022, 11:00 ET

Stori, the card that approves 99% of its applicants without requiring a credit bureau history, reaches its goal of one million customers. Stori customers are very active with 90% of customers making a purchase and keeping a balance with Stori each month.
Thanks to the support of major investors in the financial services space including GGV, GIC, Lightspeed and Tresalia, the work of Stori's team, and the investment into the company so far (USD 250 million), one million Storians has become a reality in Mexico.
Stori is on the verge of being the next unicorn in the fintech world.
Stori plans to expand its operations in Latin America, continuing to focus on financial inclusion and innovation.

MEXICO CITY, March 29, 2022 /PRNewswire/ -- Stori, one of the fastest growing fintech companies in Mexico, has already reached one million customers who use the Stori Card. This unique, and hassle-free card approves 99% of applicants without any credit bureau requirements.

Stori co-founders left to right: Sherman He, Bin Chen, Marlene Garayzar, GY Liu

"The high demand for and acceptance of our product in the Mexican market confirms to us that our mission is important and that we are on the right track, but it also drives us to work harder to give access to more people while improving the experience and service for all our customers. None of this would have been possible without the talent, commitment and passion that characterizes the work of everyone at Stori."

- Marlene Garayzar, co-founder of Stori

The company has grown significantly in the last two years, thanks to a great team that is passionate about technology, innovation and financial inclusion. Huge thanks also go to the unconditional support of Stori's investors including Tresalia Capital, Lightspeed, GGV Capital, General Catalyst, GIC and Goodwater Capital, among other industry giants who are pushing to change the history of millions of Mexicans through Stori. The company is putting the $250 million raised so far to work by investing in our customers and the Mexican market.

Behind one million users there was a lot of sweat, tears and hard work, so I would like to thank the current Stori team and anyone who once worked with us in the past. I would also like to thank our customers for all their trust, we are preparing more pleasant surprises to improve your experience."

- Sherman He, co-founder of Stori

After reaching the goal of one million customers, Stori continues to move forward to become a "unicorn" in the credit card world. Our next goal is to double our number of customers in the next several months to demonstrate that any Mexican can and should have access to a credit card with a responsible credit line that helps them to improve their credit bureau score. Anyone who is starting their financial journey or who wants to turn their financial life around, can apply for their Stori card with immediate approval, no history, no paperwork and without hassle, all directly through the Stori App. This future Super-App already facilitates the payment of services such as electricity, cable, internet, among others, and will be building more technical capabilities in the very near future.

"We started building Stori because we had a dream that every working person deserves a fair chance at financial access. Myself and many of my colleagues come from low-income families and experienced the challenges firsthand. It is humbling that today we have reached such a significant milestone in our journey. "

- Bin Chen, co-founder of Stori

Stori is focused on providing financial inclusion for Mexicans, but will soon look to expand the opportunity throughout Latin America. The company was founded in 2018 and has made a big step by reaching one million customers. It is all thanks to the ownership taken by the teams working at the company who are focused on the most important objective: listening to and understanding the customer to improve their experience. Just a few months since Stori raised one of the largest Series C investment rounds in Latin America, the company is now focused on the next set of ambitious goals to achieve.

Thanks a million!

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SOURCE Stori