BBVA Spark and APLAZO expand financing to $50 million to boost access to credit in Mexico

APLAZO, the leading Mexican platform in “Buy Now, Pay Later” (BNPL) solutions, has increased its credit line with BBVA Spark by 40%, reaching a total of $50 million. This extension will allow the company to continue its growth and expand access to financing solutions across Mexico.

BBVA Spark, the unit focused on high-growth companies and venture capital funds, strengthens its commitment to financial inclusion and the development of flexible digital tools that connect merchants with consumers.

Rodrigo Velasco, Country Manager Mexico and LatAm Head of BBVA Spark, stated: "We are excited to join Ángel and Alex’s vision and celebrate the growth and results they have achieved. Today, APLAZO allows millions of Mexicans to pay for their purchases at their own pace. At BBVA Spark, we reaffirm our commitment to driving financial innovation in the country and will continue to be the partner for those who think big."

Ángel Peña, CEO and co-founder of APLAZO, added: "We are very proud of what we have achieved to date and confident that with this credit extension we will reach more people, offering simple, fair, and transparent solutions, promoting financial inclusion in the country. The growth of the model is clear, and an example is that BNPL was one of the 5 most used payment methods during Buen Fin 2025, with 12% of user preferences, according to AMVO."

Founded in 2020, APLAZO provides flexible payment solutions to physical and digital merchants, allowing users to make purchases and pay in installments without a credit card. The company has over 300,000 monthly downloads, millions of users, and more than 15,000 merchant partners across sectors including retail, travel, entertainment, health, and wellness.

The BNPL model has become increasingly important in Mexico, enabling consumption without a credit card, with the market projected to grow from $3.98 billion in 2025 to $13.85 billion in 2031. Additionally, it allows unbanked populations to begin building a digital credit history and gain easier access to goods and services