Nelo Brings Buy Now Pay Later to Mexico with $20 Million Series A

October 12, 2021

While Buy Now Pay Later seems to be spreading like wildfire, purchasing with installment plans has always existed in Mexico. But scaling that offering was incredibly difficult and risky for merchants and consumers couldn't leverage those plans for ecommerce purchases. Nelo is changing all of that with its mobile app-based Buy Now Pay Later solution for consumers in Mexico. With hundreds of thousands of consumers and over 100 merchants in the Nelo network, the appeal of Nelo was obvious to investors, leading to its recent $20 million Series A financing. With that capital in the bank, Nelo aims to make it possible for any Mexican consumer to purchase at any offline or online merchant using BNPL. In the long run, Nelo hopes to spur overall economic activity in Mexico by making lending products more accessible to all Mexican consumers. It's a broad vision with huge potential impact. The team is hiring in Mexico City and New York and is seeking mission-driven talent for its team.