Along with current investors Picus Capital, Oak HC/FT, and Kaszek, Volpe Capital, a new investor, participated in the $45 million Series B investment round.

With the money infusion, Aplazo claims it would "double down" on product development, utilizing AI capabilities to "enhance risk decisions and better understand consumer and merchant needs."

Aplazo, a 2020 startup with its headquarters in Mexico City, offers a variety of merchant services and payment options to Mexican companies. The company claims that 70% of its customers "don't have another credit product registered on bureau records," and that its platform was developed to "help merchants sell more and grow their brands" in addition to increasing consumer financial inclusion.

Aplazo says it has been running almost breakeven in the last several months and credits its current fundraising to a time of "strong financial performance."

Since its founding, the company claims to have raised over $100 million in equity capital and $75 million in committed debt financing, including its $27 million Series A round in 2021.