Magma Partners Invests in Mexico’s Albo

Albo is a Mexican neobank that offers online banking services to 100,000 customers across Mexico. Through a mobile app, Albo is helping more Mexicans to manage their money by providing a bank account, a Global Mastercard, and access to online transfers.

The neobank was founded in Mexico City by  Angel Sahagun in 2016.  Considering the boom in investment in Latin American neobanks like Nubank, Uala, and Neon, Albo could become Mexico’s leading neobank.

Albo is on a mission to provide the 75% of Mexicans who are currently unbanked with access to online banking services, promoting financial inclusion in one of Latin America’s most complex markets.

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