Aplazo Takes in $27 Million To Increase Adoption of ‘Buy Now, Pay Later’ in Mexico
Four months after securing a $5.25 million seed round, Mexican buy now, pay later startup Aplazo is back with an even bigger round to expand adoption of the payment plan approach across that country.
Angel Peña and Alex Wieland co-founded the company in 2020. Prior to Aplazo, Peña lived in New York and worked at Morgan Stanley investing in credit in Mexico, while Wieland had been launching businesses across Latin America after spending time at companies like Uber and Lime.
Aplazo plugs into a merchant’s payment process, online or offline, and enables users to purchase items and pay in five equal installments without needing a credit card.