Stori, a Mexican fintech specialized in financial inclusion, founded by Bin Chen, expands its market to Colombia, after being authorized by the Financial Superintendence of said country. The firm, which achieved unicorn status in 2022 with a valuation of more than US$1.2 billion, marks its first international expansion after consolidating its operation in Mexico with more than 3.7 million clients.
According to the Financial Superintendence, the application for its incorporation was filed in 2024 and the company will have an initial capital of US$60,000 million. At that time, Stori announced to Mexican media its interest in investing US$100 million in Colombia in its first years of operation.
The next step will be the issuance of the operating license, for which you must comply with a series of regulatory requirements in Colombia. Once approved, you will be able to offer savings products such as deposits and accounts, grant credits and financing, carry out portfolio purchase and leasing operations.
Stori: Profitable unicorn with IPO plans
Stori has operated in Mexico since 2018 and recently recorded 80% growth in revenue. The firm has received multiple rounds of financing, has already reached its break-even point and, according to recent statements, hopes to go public this year in 2026.
Its main product is the credit card accessible to people without credit history, which provides multiple added services such as points with purchases, cashback and discounts in stores and travel. In addition, its portfolio includes credits and, more recently, the company has expanded its offering with high-yield savings accounts and other financial functionalities.
Founders with experience in global finance
The CEO and co-founder of Stori is Bin Chen, originally from China. Before creating this fintech, he worked at Mastercard as vice president of Community Banking and Credit Unions at Mastercard Advisors. He was also with Boston Consulting Group for four years as a project leader.
Other co-founders are Guangyu Liu and Sherman He, as well as Nick Chen and Mexican Marlene Garayzar. The founding team combines experience in traditional finance with knowledge of the Latin American market, positioning Stori to replicate its Mexican success in Colombia.
The arrival of Stori adds to a 2025 of multiple transformations and the arrival of new actors in the Colombian financial system, consolidating the country as a strategic destination for the expansion of fintechs in the region.
