Clip
Funding History
| Series D (Unicorn round) · 06/2021 | $1.0B |
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Overview
Clip (legally PayClip, S. de R.L. de C.V., originally incorporated as BlitzPay Inc.) is a Mexican fintech company that provides point-of-sale hardware, digital payment links, and business management software so that small and mid-sized Mexican businesses can accept card and digital payments. Founded in 2012 by Adolfo Babatz, a former PayPal executive, Clip processed its first transaction in 2013 using a headphone-jack card reader, in a market where the vast majority of consumer spending was still conducted in cash.
Over the following decade Clip expanded from its original mobile card reader into a broader commerce platform, launching successive hardware generations (Clip Plus, Pro, Plus 2, Total, Stand, Ultra), a card-not-present online checkout product, and — after acquiring the digital wallet platform Swap in 2020 — expanded into digital accounts, wire transfers, and debit card issuance following approval of an IFPE license from Mexico's banking regulator, the CNBV, in 2022.
Clip became Mexico's first fintech unicorn in June 2021 after a $250 million investment led by SoftBank's Latin America Fund and Viking Global Investors valued the company at $1 billion. The company has continued to raise growth capital and debt financing since, including a $50 million credit facility in 2022 and a $100 million equity investment in 2024, while expanding its product suite into tap-to-pay, digital wallets, and AI-enabled commerce tools, and opening a technology hub in Argentina in 2023.
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