MEXICO
CITY and NEW YORK,
June 18,
2024 /PRNewswire/ -- Clip, Mexico's leading digital payments and
commerce enablement platform, today announced that it has
secured an investment round of US$100
million from investment funds managed by Morgan Stanley
Tactical Value ("MSTV") and from one of the largest, most
experienced West-Coast mutual fund managers. The investment values
Clip in line with the Series D round completed in 2021.
Since its inception in 2012, Clip has built a complete portfolio
of purpose-built payments, financial services and software
solutions for small and mid-sized businesses (SMBs) in Mexico, becoming the country's largest digital
payments and commerce enablement platform by merchants served. Clip
currently offers products and services spanning software and
hardware, which enable SMBs to grow their business by accepting
digital payments, selling online, obtaining credit and simplifying
their operations. Clip intends to leverage the new funds to
accelerate product development initiatives for further growth in
support of its mission to drive financial inclusion in Mexico through innovative technology
solutions.
"The investment from these two globally renowned investors is a
testament to Clip's opportunity to continue to lead the digital
transformation of Mexico's
commerce ecosystem, and more broadly, provides even further
validation of our mission to open access to digital payments,
financial services and technology solutions to all SMBs in the
country," said Adolfo Babatz, Clip's
Founder and CEO. "We are excited to leverage this financing round
to continue to expand and strengthen our offerings to empower more
stakeholders across Mexico's
economy."
Commenting on the investment, Pedro
Teixeira, Managing Director and Co-Head of MSTV, said: "We
are excited to begin our partnership with Clip after following the
company for several years. Clip is a pioneer in leveraging new
technologies to drive financial inclusion in Mexico. We are delighted to partner with
Adolfo and the Clip team to support the rapid, strategic
growth of the business. Clip has a deeply experienced and
passionate management team, a unique culture focused on delivering
a differentiated customer experience, and a strong track record of
performance. We look forward to its continued momentum in
democratizing payments."
MSTV and the leading West-Coast mutual fund manager join Clip's
premier list of investors which include General Atlantic, Ribbit
Capital, Goldman Sachs, Softbank Latin America Fund, Viking Global
Investors, Dalus Capital, Banorte, Televisa, Visa, Amex Ventures,
Angel Ventures Mexico and Endeavor Catalyst, among others.
About Clip
Clip is the leading commerce and digital payments platform that
is empowering businesses in Mexico
to interact and transact with its consumers more effectively
through innovative technologies, best-in-class customer service,
and the ability to accept all payment methods digitally. The
company has offices in Mexico City
and Buenos Aires.
For more information, please visit www.payclip.com or
www.clip.mx
About Morgan Stanley Tactical Value
Morgan Stanley Tactical Value is the flexible, non-control
private investment platform within Morgan Stanley Investment
Management (MSIM). With a broad mandate to invest across asset
classes, sectors and geographies, Morgan Stanley Tactical Value is
able to tailor bespoke solutions to meet unique strategic and
financial objectives. The team's expertise, including deep
structuring experience, is complemented by Morgan Stanley's
extensive network and global capabilities to drive differentiated
capital solutions for companies, founders, sponsors, and
stakeholders.
For more information, please visit
www.morganstanley.com/im/tacticalvalue.
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SOURCE Clip
