Press release
Sileon sign agreement with Mexican bank Bankaool
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Mexican bank Bankaool, known for its dedication providing accessible and comprehensive banking services in a highly digitalized offering has signed a 3-year agreement to incorporate Sileons card-based Buy Now, Pay Later (BNPL) solutions into their financial product lineup. This partnership stands as a significant milestone as Sileon continue to expand its international reach, introducing innovative BNPL functionality on debit and creditcards now also in the Mexican market. The launch of Sileon’s Card-linked BNPL functionality on Bankaools cards is scheduled for July this year.
“We are thrilled about this partnership with Sileon, which will enable us to provide our customers with enhanced payment flexibility through their BNPL platform. The integration of Sileon’s technology into our services aligns with our mission to deliver innovative and accessible financial solutions to all our customers and drive the long-overdue digitalization of the vast underserved people of all Mexico.” says Moises Chaves, CEO at Bankaool and representative of the majority shareholder.
With a goal of 2 million account holders in 2024, Bankaool is deeply committed to promoting financial inclusion by leading digital innovation within the Mexican banking industry. By utilizing Sileon’s state-of-the-art Card-linked BNPL product, Bankaool aims to further strengthen digital offer through the introduction of flexible instalment options on their debit cards.
“I’m proud and excited that the leading digital bank in Mexico has chosen to partner with us at Sileon. It marks a true milestone as Sileon now enters also into Mexican market. I see large opportunity in Bankaool extending their offering with Sileons Card-linked BNPL product and we at Sileon will do our outmost for a successful partnership. Given potential in Bankaools offering and large customer base, transaction volumes are expected to ramp over time.”, says, David Larsson, CEO of Sileon
About Bankaool
As Mexico’s leading digital bank, Bankaool offers a wide array of financial services and products aimed at empowering individuals and businesses. Focused on accessibility and customer service, Bankaool is committed to delivering financial solutions that meet the evolving needs of its customers.
About Sileon
Sileon AB (publ) is a global fintech company that offers an innovative card-linked Buy Now Pay Later (BNPL) SaaS functionality to banks, card issuers and fintechs. With Sileon’s BNPL product, customers can add BNPL to their existing credit or debit card base and run their B2B or B2C BNPL business in-house. Sileon operates in a fast-growing international market with an estimated transaction volume of $680 billion globally by 2025. Sileon is listed on the Nasdaq First North Growth Market and has approximately 40 employees at its headquarters in Stockholm, Sweden. The Company’s Certified Adviser is Carnegie Investment Bank AB (publ).
For more information, please contact:
David Larsson, CEO, Sileon AB
E-post: david.larsson@sileon.com
Telefon: +46 725 502 306