Acquisition Strengthens Value Proposition
Neobank Albo has acquired delt.ai, a fintech company focused on SMBs, for $20m. The Mexico-based neobank plans to use the acquisition to expand its credit and debit products for consumers and SMBs. Ángel Sahagún, chief executive and founder of albo, stated that this acquisition strengthens their value proposition for SMBs as the only neobank in Mexico offering an end-to-end platform. With this acquisition, albo aims to provide a complete platform for consumers, SMBs, and their employees.
delt.ai’s Success and Financing Through Cryptocurrencies
delt.ai raised $25m in financing through TrustToken’s decentralized finance platform in February 2022. It became the first startup in Latin America to finance through cryptocurrencies, according to El Economista. José de la Luz, delt.ai’s founder, will now take over as the chief operating officer at albo. During delt.ai’s lifespan, it supported 130,000 transactions and granted over $90m in business loans and credit lines. De la Luz expressed excitement about his new role at albo, stating that the company’s business vision resonates with his own.
