Mexican buy now, pay later fintech Nelo renewed its $100M credit facility with Victory Park Capital. Founded in…
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Mexican buy now, pay later fintech Nelo renewed its $100M credit facility with Victory Park Capital.
Founded in 2019 by former Uber employees Kyle Miller and Stephen Hebson, Nelo allows users to split purchases into up to eight biweekly payments over 120 days. Customers can also use the app to shop at retailers including Amazon, Mercado Libre, Walmart, and Zara, pay utility bills, withdraw cash, and access virtual and physical Mastercard cards.
Nelo will use the debt to finance its consumer credit portfolio.
Nelo reports $115M in annualized revenue, one million active customers, and three consecutive years of profitability. At the end of 2025, Nelo reported a $75M annual revenue run rate and $1B in purchase volume.
Source: LatamList
