Funding round
Stori Series C
Stori, which works in digital payment card issuance in Mexico City, raised $150M in a Series C round announced on 15 Jul 2022, led by BAI Capital, GIC and GGV Capital, at a $1.20B post-money valuation. 9 firms took part. It is Stori's third venture round on record; the one before was a Series B in Mar 2021.
$150M
Amount raised
of which $100M debt
$1.20B
Post-money valuation
$1.05B pre-money
9
Investors
3 leads
4.2%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Stori at $1.20B after the new money. The $150M bought investors about 4.2% of the company. It came 16 months after Stori's Series B. It is 37% of the $405M Stori has raised in the venture rounds on record. Stori raised again 25 months later: a Growth round of $212M in Aug 2024.
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 1 Mar 2021, led by Lightspeed Venture Partners $33M
- Debt not a venture round 12 Nov 2021 $75M
- Series C this round 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
BAI Capital, GIC and GGV Capital led the round with 6 other firms.
Lead investors
- backs 17 venture-backed companies new investor
- GIC backs 98 venture-backed companies new investor
- GGV Capital new investor
Also in the round
- General Catalyst backs 574 venture-backed companies new investor
- Goodwater Capital backs 162 venture-backed companies new investor
- Lightspeed Venture Partners backs 454 venture-backed companies new investor
- Vision Plus Capital new investor
- Tresalia Capital new investor
- backs 8 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
6 Series C rounds in Financial Services within a year either side disclosed an amount; the median was $160M, and this round was close to the median. The closest in time, other companies' Series C rounds in Financial Services:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Neo Financial Financial Services | 5 May 2022 | $145M | $1.00B | Valar Ventures |
| Stream Financial Services | 13 Apr 2022 | $175M | not disclosed | Smash Capital and BlackRock |
| Financial Services | 18 Oct 2022 | $46M | not disclosed | Scottish National Investment Bank |
| Financial Services | 25 Nov 2021 | $25M | $3.39B | Tiger Global |
| Bitpanda Financial Services | 17 Aug 2021 | $263M | $4.10B | Valar Ventures |
| FalconX Financial Services | 10 Aug 2021 | $210M | $3.75B | Altimeter and B Capital |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Stori raise in its Series C round?
Stori raised $150M in its Series C round, announced in Jul 2022.
Who led Stori's Series C round?
BAI Capital, GIC and GGV Capital led it, with General Catalyst, Goodwater Capital, Lightspeed Venture Partners, Vision Plus Capital and Tresalia Capital and 1 more.
What was Stori's valuation at the Series C round?
$1.20B post-money ($1.05B pre-money).
How does it compare with other Series C rounds in Financial Services?
6 Series C rounds in Financial Services within a year either side disclosed an amount; the median was $160M, and this round was close to the median.
Did Stori raise again after this round?
Yes: a Growth round in Aug 2024 of $212M.