Mexico City – October 19, 2026 -- Mexican digital bank Plata crossed $1 billion in annual recurring revenue (ARR) in September 2026, less than 3.5 years after its April 2023 launch, the company announced. Plata says this makes it the fastest digital bank in history to reach the benchmark.

Plata reached the milestone less than a year after receiving its full banking license

The company has more than 4 million customers in Mexico. It is now the country's fourth-largest credit card issuer by customer count. Plata describes itself as the only digital bank in Mexico offering a full product suite covering credit, debit, investments and small business banking.

Plata expects Mexico operations to turn profitable within six months

The company says its growth is nearing profitability, which it expects its Mexico business to reach within the next six months. It did not disclose profit or loss figures.

Colombia launch at the start of September opens Plata's second market

Plata began operations in Colombia at the beginning of September 2026, extending its model beyond Mexico.

In-house core banking system underpins the scaling claim

Plata built its own core banking system and technology stack from day one. The company says this showed that a regulated financial institution can scale at AI-company speed without hurting operating performance. It likens its trajectory to that of the fastest-growing AI companies.

CEO Neri Tollardo said building the technology from scratch proved "a bank can move at AI company speed without compromising anything." He added that the company is now ready to accelerate its innovation.