Aplazo, the leading Mexican platform in BNPL solutions, expanded its credit line with BBVA Spark by 40%, reaching a total of US$ 50 million. The financing comes at a key moment: the installment payment market in Mexico could go from US$3.98 billion in 2025 to US$13.85 billion in 2031.
Why BNPL makes so much sense in Mexico
Mexico is one of the most fertile markets for the “buy now, pay later” model. More than 60 million adults in the country do not have access to formal credit and more than 70% of credit transactions are made in installment plans. The credit card continues to be a privilege for few.
Aplazo arrived in 2020 to solve exactly that: allow anyone to buy in physical or digital stores and pay in convenient biweekly installments, without the need for a credit card and with approval in five minutes. A simple model that also helps users build their digital credit history.
What does this extension mean?
The extension of the credit line with BBVA Spark is not only additional capital, it is a sign of confidence in the model. BBVA Spark, the unit specialized in high-growth companies and venture capital funds, already has a presence in five geographies, more than 1,800 clients and nearly 1,000 million euros committed in bank financing.
For Aplazo, having this support allows it to scale its network of commercial allies, which today exceeds 15,000, and continue growing in sectors as different as retail, travel, entertainment and health, both in local businesses and in large chains.
What’s coming
The Mexican BNPL market is expanding and Aplazo is positioned to take advantage of it. With more than 300,000 monthly downloads and a consolidated user base, the platform aims to continue being the benchmark for the sector in the country while the market almost quadruples in size in the coming years.
For the unbanked population, the impact goes beyond consumption: each installment purchase is also an opportunity to build a credit history that did not exist before.
