Doha, Qatar and Mexico City – April 15, 2026 – QIA today announced its participation in Plata’s $405 million Series C funding round, which values the company at $5 billion, making it the most valuable privately held digital bank in Latin America. The round was led by Bicycle Capital with participation from a global group of new and existing investors.
Plata is a technology-driven digital banking platform operating across Latin America, with full banking operations launched as Banco Plata in Mexico. In under three years, the company has scaled rapidly, surpassing 3.5 million active customers and achieving more than $600 million in annualized revenue, supported by proprietary AI-driven risk models and a fully integrated digital platform.
The financing will support Plata’s next phase of growth, including the expansion of its deposit and transactional banking offerings, continued investment in its technology platform, and further scaling of its operations across the region. The company is focused on broadening access to financial services and deepening customer engagement through its digital-first model.
QIA’s investment reflects its continued focus on partnering with high-growth, technology-driven financial services platforms with strong scalability and the potential to expand access to financial services in large, underserved markets.
About Plata
Plata is a technology -led digital financial institution that operates Banco Plata, a fully regulated bank in Mexico, and has received authorization for a Compañía de Financiamiento in Colombia. Since launching three years ago, Plata has grown to serve over 3.5 million active customers and has raised more than $2 billion in debt and equity. The company built its technology infrastructure in-house, including a proprietary core banking system, CRM, and AI-powered risk engine, developed by a team of over 800 STEM professionals.