Funding round
Stori Series B
Stori, which works in digital payment card issuance in Mexico City, raised $33M in a Series B round announced on 1 Mar 2021, led by Lightspeed Venture Partners. 4 firms took part. It is Stori's second venture round on record; the one before was a Series A in Feb 2020.
$33M
Amount raised
Not disclosed
Post-money valuation
4
Investors
1 lead
Valuation
What this round says about the price
Stori did not disclose a valuation in this round. It came 13 months after Stori's Series A. It is 8.0% of the $405M Stori has raised in the venture rounds on record. Stori raised again 16 months later: a Series C round of $150M in Jul 2022, at $1.20B post-money.
Stori's funding rounds
Stori has 4 venture rounds on record and 1 other deal. This one is highlighted.
- Series A 4 Feb 2020, led by Bertelsmann Investments and Source Code Capital $10M
- Series B this round 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
Lightspeed Venture Partners led the round with 3 other firms.
Lead investor
- Lightspeed Venture Partners backs 454 venture-backed companies new investor
Also in the round
- Vision Plus Capital new investor
- backs 17 venture-backed companies new investor
- backs 35 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
12 Series B rounds in Financial Services within a year either side disclosed an amount; the median was $57M, and this round was 57% of the median. The closest in time, other companies' Series B rounds in Financial Services:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Bitpanda Financial Services | 16 Mar 2021 | $170M | $1.20B | Valar Ventures |
| Financial Services | 23 Mar 2021 | $69M | $366M | Left Lane Capital |
| FalconX Financial Services | 1 Jan 2021 | $50M | not disclosed | not named |
| Financial Services | 30 Jun 2021 | $30M | not disclosed | Portage Ventures |
| Alpaca Financial Services | 30 Aug 2021 | $50M | not disclosed | Tribe Capital |
| Financial Services | 5 Oct 2020 | $12M | not disclosed | Electric Capital |
| Neo Financial Financial Services | 15 Sep 2021 | $64M | not disclosed | Valar Ventures |
| Stream Financial Services | 7 Jul 2020 | $25M | not disclosed | Northzone |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Stori raise in its Series B round?
Stori raised $33M in its Series B round, announced in Mar 2021.
Who led Stori's Series B round?
Lightspeed Venture Partners led it, with Vision Plus Capital, BAI Capital and Source Code Capital.
What was Stori's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Financial Services?
12 Series B rounds in Financial Services within a year either side disclosed an amount; the median was $57M, and this round was 57% of the median.
Did Stori raise again after this round?
Yes: a Series C round in Jul 2022 of $150M at $1.20B post-money.