Mexico-Based Albo Announces Series C Financing led by Morpheus Ventures.
Gunderson Dettmer represented client Albo, a Mexico-based neobank, in its Series C financing led by Morpheus Ventures. Albo offers personal and business financial services including a personal debit account, a business account, credit, payroll, and savings. The new capital will be used to recruit key profiles and work toward reaching profitability by the end of 2024.
In the announcement of the transaction, Albo CEO and founder Ángel Sahagún said, “We have a solid value proposition for both individuals and businesses that includes debit products, payment solutions, credit offerings, and much more. We will continue to expand on that. That’s the formula that has worked for us.”
The Gunderson Dettmer deal team was led by Dan Green and Brad Krack, and included Daniel Gallo, Federico Varni and Micaela Cervantes.