Mexican buy now, pay later (BNPL) and digital finance trailblazer Nelo has successfully renewed its substantial $100 million credit facility with global alternative investment firm Victory Park Capital. The strategic financial maneuver marks a major milestone for the rapidly scaling fintech company as it solidifies its balance sheet and prepares for its next phase of market expansion across Latin America.
Founded in 2019 by former Uber employees Kyle Miller and Stephen Hebson, Nelo has carved out a distinct and influential space in Mexico’s evolving digital payments ecosystem. The company was built with a clear vision to bridge the gap between traditional banking infrastructure and the daily financial needs of modern consumers, many of whom have historically been underserved by legacy financial institutions. Through its innovative platform, Nelo allows users to seamlessly split their retail purchases into up to eight manageable biweekly payments spread across a 120-day period. This structured yet flexible repayment model has resonated deeply with shoppers looking for transparent and predictable alternatives to high-interest credit cards.
Beyond its core buy now, pay later offerings, Nelo has evolved into a comprehensive digital financial hub. Customers utilize the company’s dedicated mobile application not only to finance everyday goods but also to shop directly with some of the world’s most prominent e-commerce and retail giants, including Amazon, Mercado Libre, Walmart, and Zara. Furthermore, the platform empowers users to handle essential financial tasks such as paying utility bills, withdrawing cash, and accessing both virtual and physical Mastercard-branded payment cards. This multifaceted product suite has transformed Nelo from a single-purpose installment payment tool into an everyday financial companion for its growing user base.
According to the terms of the renewed financing agreement, Nelo will deploy the capital directly into its consumer credit portfolio. This injection of liquidity will enable the fintech to maintain a steady and reliable flow of credit to its customers, supporting rising demand as digital commerce continues to expand rapidly throughout Mexico and the broader region. Access to robust institutional debt facilities of this scale is widely considered a critical differentiator for modern fintech companies, allowing them to scale their loan books safely while optimizing their cost of capital.
Nelo’s latest financial milestone is underpinned by an impressive set of operating metrics and sustained business performance. The company currently reports $115 million in annualized revenue, a testament to the robust transactional activity occurring across its platform. Alongside this strong revenue figure, Nelo boasts a community of one million active customers who rely on its services for their day-to-day shopping and financial management needs. Perhaps most notably in the current macroeconomic climate, Nelo has achieved three consecutive years of profitability, distinguishing itself in a sector that has frequently prioritized rapid customer acquisition over bottom-line financial health.
The company’s trajectory has accelerated significantly over recent operational periods. At the close of 2025, Nelo reported a formidable annual revenue run rate of $75 million alongside an astonishing $1 billion in cumulative purchase volume. These figures illustrate the profound depth of consumer adoption the platform has achieved in a relatively short timeframe, reflecting both the vision of its founders and the market appetite for modern alternative credit solutions in Latin America.
The renewal of the $100 million credit facility with Victory Park Capital ensures that Nelo is well-equipped to sustain this momentum. As consumer habits continue to shift toward digital-first banking and flexible payment mechanisms, Nelo remains positioned at the forefront of Mexico’s vibrant fintech landscape, balancing ambitious growth with disciplined, profitable operations.
