Overview

Atrato Pago offers a payment solution that allows customers in Mexico to make purchases at both online and physical stores and pay for them over a period of up to 24 months. This service functions as a form of consumer credit, where Atrato Pago pays the merchant upfront, and customers repay Atrato Pago over time. To use this service, customers select Atrato Pago as their payment method during checkout, complete an application, and upload necessary documents. Once approved, they can manage their balance and payment details through their Atrato Pago profile. The company targets a wide demographic of individuals aged 18 to 70 who have a Mexican mobile number and email address, and it generates revenue by charging interest on the credit it provides. Atrato Pago distinguishes itself from competitors by focusing on a seamless digital experience for both online and in-store shopping, making it accessible to a broad range of consumers in Mexico.

Simplify's Take

What believers are saying

• BNPL services in Latin America are growing at 30% annually, benefiting Atrato Pago.
• The Mexican government's push for digital payments aligns with Atrato Pago's model.
• E-commerce growth in Mexico offers Atrato Pago opportunities for market expansion.

What critics are saying

• Increased competition from similar fintech companies may erode Atrato's market share.
• Rising interest rates in Mexico could affect Atrato's borrowing costs and profitability.
• Regulatory scrutiny on fintechs in Mexico may lead to stricter compliance for Atrato.

What makes Atrato unique

• Atrato Pago offers a unique BNPL service in the Mexican retail sector.
• The company targets a broad demographic, including Mexican nationals and residents.
• Atrato Pago provides both online and in-store payment options for flexibility.

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Funding

Total Funding

$2.6M

Below

Industry Average

Funded Over

2 Rounds

Notable Investors:

Accel

Notable Investors:

Accel

$15,000,000

Debt

Sep 2021

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