Klar, a Mexican digital bank that provides banking services, including credit cards and loans through an app-based platform, is expanding beyond consumer banking by acquiring Tribal’s SMB payment, financing, and business intelligence tools to tap into Mexico’s under-served small and medium-sized business (SMB) market. The acquisition will allow Klar to integrate Tribal’s payroll solutions and leverage business data for personalized consumer services, boosting business and consumer growth. With over 3,000 SMB clients and a history of processing $1 billion in transactions, the deal is expected to accelerate Klar’s revenue growth and position the company for an IPO by 2025.
Klar acquires Tribal assets for SMB push
