Mexican buy now, pay later (BNPL) and digital consumer finance platform Nelo has successfully renewed its substantial $100 million credit facility with investment firm Victory Park Capital. The fresh capital injection marks a significant milestone for the rapidly scaling fintech as it continues to solidify its operational footprint across Mexico’s competitive digital financial services landscape.
Founded in 2019 by former Uber employees Kyle Miller and Stephen Hebson, Nelo has steadily evolved from a localized installment payment tool into a comprehensive financial application catering to modern consumers. The company’s core offering allows users to split their purchases into up to eight manageable biweekly payments spread across a 120-day period. Beyond traditional point-of-sale financing, Nelo has expanded its product ecosystem to empower customers to shop seamlessly at major global and regional retailers, including e-commerce giants Amazon and Mercado Libre, retail behemoth Walmart, and fashion retailer Zara. Furthermore, the platform enables users to handle everyday financial necessities such as paying utility bills, withdrawing cash, and accessing both virtual and physical Mastercard cards for everyday spending.
According to the company’s strategic roadmap, Nelo will deploy the renewed debt facility primarily to finance its expanding consumer credit portfolio. As demand for flexible digital credit continues to rise among Latin American consumers—many of whom remain underserved by traditional banking institutions—maintaining a robust and reliable source of debt financing is crucial for sustaining loan origination growth without straining equity capital.
The renewal of the credit facility comes on the heels of impressive financial and operational metrics reported by the company. Nelo currently boasts $115 million in annualized revenue and has successfully scaled its user base to reach one million active customers. Demonstrating a rare and vital trait within the broader global technology and fintech sectors, the company has achieved three consecutive years of profitability. These achievements reflect a disciplined approach to risk management and unit economics, distinguishing Nelo from many of its early-stage peers that prioritized unconstrained growth over financial sustainability.
Nelo’s current scaling trajectory builds upon a strong foundation established over the past several years. At the close of 2025, the fintech reported an annual revenue run rate of $75 million alongside a remarkable $1 billion in cumulative purchase volume processed through its platform. By bridging the gap between everyday commerce and accessible credit, Nelo has positioned itself as a central pillar in the ongoing evolution of Latin America’s digital economy, providing consumers with sophisticated financial tools designed to navigate modern economic demands.
