Photo: Klar

Why We Invested: Klar

Quona Capital


In September, Quona Capital led a Series Seed investment in Klar, a Mexican challenger bank. We thought it would be helpful to explain why we think Klar is so special.

First, it’s worth considering the following about Mexico:

  • 63% of adults there are unbanked
  • Only 25% of adults have a debit card, and 40% of those who do have one never use it to pay for anything
  • Only 10% have a credit card
  • Only 6% use the internet to access their accounts

As a result, Mexico represents a huge market opportunity.

The Klar Solution

While there are a number of new challenger banking entrants in Mexico, we believe Klar is unique in attacking the two fundamental pain points consumers face: a lack of access to credit, and a lack of incentives to use a card instead of cash.

Klar allows underserved Mexican consumers to access banking services and build their credit histories through installment credit, increasing their chances of accessing other financial products. Klar has structured its credit for installment payments rather than a typical revolving line, which is easier to understand for the average Mexican consumer, who may be more accustomed to financing large household purchases at major retailers. At the same time, Klar addresses Mexico’s cash culture and a pervasively informal economy with a cash-back feature that is thoughtfully designed to incentivize usage in a market with growing card acceptance.

Klar has one of the strongest early-stage teams that we have come across in Latin America, comprised of a complementary mix of strategy, technology, finance, marketing, and risk experience. Of critical importance to Quona, the team is committed to transforming banking in Mexico with products designed for the needs of the majority of the population that has limited or no access to quality financial services. We’re excited and honored to partner with Klar and can’t wait to see what the next years will bring.

To learn more about them, visit

Quona Capital is a scale-up stage venture firm focused on fintech for inclusion in emerging markets. Quona partners have deep experience as investors and operators in both emerging and developed markets, and look for entrepreneurs whose companies have the potential to provide outstanding financial returns and promote breakthrough innovation in financial inclusion. To date, Quona has supported more than 20 financial technology companies expanding access for underserved consumers and small businesses in Latin America, South and Southeast Asia, and Sub-Saharan Africa. Quona got its start through a strategic relationship with Accion, a global nonprofit with a pioneering legacy in microfinance and fintech impact investing. The firm has offices in Washington D.C., Bangalore, Cape Town, Mexico City and Singapore. For more information, visit

Disclaimer: Quona portfolio companies were selected for profiles based on objective, non-performance-based criteria for the purpose of illustrating the types of investment made by Quona funds and their impacts. These profiles are being provided for illustrative purposes only, in order to provide examples of the idea generation, research, and thought process of Quona investment teams. No representation is made as to whether or if the investment ideas represented in these profiles have been or will be profitable. It should not be assumed that Quona will be able to identify similar investment opportunities in the future, or that any such opportunities will be profitable. The above statements include the opinions of the Firm and are for illustrative purposes only. There is no assurance that any trends depicted or objectives described in Quona profiles will continue or become successful.



Quona Capital

Quona Capital is a venture firm specializing in financial technology for inclusion in emerging markets. Learn more at