Funding round
Stori Series A
Stori, which works in digital payment card issuance in Mexico City, raised $10M in a Series A round announced on 4 Feb 2020, led by Bertelsmann Investments and Source Code Capital. 3 firms took part, 1 of them already investors. It is Stori's first venture round on record.
$10M
Amount raised
Not disclosed
Post-money valuation
3
Investors
2 leads
Valuation
What this round says about the price
Stori did not disclose a valuation in this round. It is Stori's first venture round on record, 2 years after it was founded in 2018. It is 2.5% of the $405M Stori has raised in the venture rounds on record. Stori raised again 13 months later: a Series B round of $33M in Mar 2021. Its next priced round, a Series C in Jul 2022, valued it at $1.20B.
Stori's funding rounds
Stori has 4 venture rounds on record and 1 other deal. This one is highlighted.
- Series A this round 4 Feb 2020, led by Bertelsmann Investments and Source Code Capital $10M
- Series B 1 Mar 2021, led by Lightspeed Venture Partners $33M
- Debt not a venture round 12 Nov 2021 $75M
- Series C 15 Jul 2022, led by BAI Capital, GIC and GGV Capital $150M$1.20B post-money
- Growth 6 Aug 2024, led by Notable Capital and BAI Capital $212M
Investors
Who put money in
Bertelsmann Investments and Source Code Capital led the round with 1 other firm. Yuan Jing Capital had backed Stori before.
Lead investors
- backs 31 venture-backed companies new investor
- backs 35 venture-backed companies new investor
Also in the round
- backs 12 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
9 Series A rounds in Financial Services within a year either side disclosed an amount; the median was $18M, and this round was 56% of the median. The closest in time, other companies' Series A rounds in Financial Services:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Financial Services | 16 Jun 2020 | $35M | not disclosed | Andreessen Horowitz |
| Financial Services | 31 Oct 2019 | $15M | not disclosed | Molten Ventures |
| Financial Services | 22 Jun 2020 | $4.0M | not disclosed | Partech |
| Financial Services | 16 Sep 2019 | $200M | not disclosed | Oaktree Capital |
| Financial Services | 13 Aug 2020 | $18M | not disclosed | Darco Capital |
| Bitpanda Financial Services | 29 Sep 2020 | $52M | not disclosed | Valar Ventures |
| Trade Republic Financial Services | 1 Jul 2019 | $11M | not disclosed | Creandum |
| Financial Services | 15 May 2019 | $8.0M | not disclosed | Portage Ventures |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Stori raise in its Series A round?
Stori raised $10M in its Series A round, announced in Feb 2020.
Who led Stori's Series A round?
Bertelsmann Investments and Source Code Capital led it, with Yuan Jing Capital.
What was Stori's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Financial Services?
9 Series A rounds in Financial Services within a year either side disclosed an amount; the median was $18M, and this round was 56% of the median.
Did Stori raise again after this round?
Yes: a Series B round in Mar 2021 of $33M.