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Neobank Vexi raises millions to offer young Mexicans lower interest rate credit cards

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Getting a credit card is something most Americans take for granted.
In countries such as Mexico, it’s a much more difficult and less common endeavor. In fact, less than 20% of the population has access to a form of credit, with just an estimated 10% having credit cards.
In recent years, a number of startups have emerged to offer underserved Mexicans more options in an effort to boost inclusion in the country. One such startup is Vexi. former Citi exec Rojo Blasquez started the company in 2018 and was later joined by Gabriela Estrada (who also spent more than 9 years at Citi), Cinthia Merlos, Salvador Michel and Carlos Franco as co-founders. All founders grew up in middle class households and are personally invested in helping Latin America’s emerging middle class have access to better financial services, sai …

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