Plata

Plata has not publicly disclosed its founding team, management structure, or investment committee. Board representation and executive leadership remain unlisted on its website and in available regulatory filings.

Prior to its banking license, Plata funded its card receivables entirely through venture equity. Its most recent disclosed round closed in October 2025, raising $250 million at a $3.1 billion valuation (per Altss estimate based on firm-reported figures). As a licensed bank, it can now access customer deposits as a funding source.

The only publicly described product is a single Mastercard-branded credit card, issued through its mobile application with no annual fee. It features a category-selectable cashback program of up to 15% and an installment-plan tool branded as 'Plata Crédito' that allows users to defer purchases to 3–12 monthly installments without interest.

Yes. The Mexican National Banking and Securities Commission (CNBV) authorized Plata to operate as a bank on February 19, 2026. The firm now can legally accept deposits and broaden its product portfolio beyond the credit card it marketed during its fintech phase.

Plata self-reports more than 3 million active credit-card users on its about page as of early 2026. An independent audit of that figure has not been published, and the firm does not disclose monthly active user metrics or retention cohorts.