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Meet Klar, The Fintech Startup Helping the Underbanked in Mexico

Discover how Klar, a fintech startup, is revolutionizing banking for the underbanked in Mexico

📝 Overview

  • 🖊️ Startup Name: Klar
  • 📍 Headquarters: Mexico City, Mexico
  • 📅 Year Founded: 2019

🧍 Team

Klar was founded by Stefan Moller and Daniel Autrique. Both have extensive experience in finance and technology.

🔍 Problem

Mexico has a large unbanked population, with around 36% of adults lacking access to basic financial services. Traditional banks have been slow to address this issue, with high fees and strict requirements making it difficult for many Mexicans to open accounts. Additionally, many people lack credit histories or collateral, making it hard for them to access loans.

💡 Solution

Klar aims to solve this problem by offering a mobile banking app that is accessible to everyone, regardless of their financial history. The app allows users to open accounts quickly and easily, with no fees or minimum balances. Users can also apply for loans through the app, with Klar using alternative data sources to assess creditworthiness. Klar's app also offers budgeting tools and the ability to send and receive money.

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