Nelo
- Company typePrivate
- Founded2019
- HeadquartersMexico City, Mexico
- Headcount11–50
- GTM typeB2C
- OfferingSoftware
What Nelo does
Nelo, operated by Nelo Mobile, S.A. de C.V., is a Mexico City-based consumer credit and payments platform built around biweekly (quincenal) installment lending. Founded in 2019, the company targets underbanked Mexican consumers who lack traditional credit access, offering a mobile-first stack that includes the Nelo App, the Tarjeta Nelo (a physical and virtual card usable online and via Google Wallet for contactless in-store payments), and Tienda Nelo, an owned e-commerce marketplace where users purchase products in interest-free installments payable upon delivery. The product surface has been progressively widened with Nelo Préstamos for general-purpose SPEI cash disbursements, Nelo Préstamos sin Buró for credit-invisible borrowers, utility and telecom bill payments (CFE, Telcel, izzi), cash withdrawals, and the Nelo VIP loyalty program that rewards consistent on-time payments with enhanced credit terms.
Underwriting and credit decisioning leverage alternative data rather than traditional credit bureau checks for select products, and the company reports it has granted 35M+ credits to 2M+ users and facilitated 3M+ transactions through a network of 100+ merchant partners including Amazon, Walmart, SHEIN, Nike, adidas, Apple, IKEA, The Home Depot, Liverpool, Uber, and CFE. Nelo is regulated by Profeco and supervised by SHCP/SAT for AML compliance under Mexico's Ley Federal para la Prevención e Identificación de Operaciones con Recursos de Procedencia Ilícita.
The business model combines three revenue streams: interest and financing fees on installment credit (CAT of 37.26% for Tienda Nelo and 73.49% for Tarjeta Nelo, with an average CAT of 379.5% across products per the company's August 2025–January 2026 disclosure), merchant commissions on Marketplace de Nelo transactions, and late-payment fees on overdue installments. The go-to-market is product-led growth via self-serve app registration using CURP and INE, supplemented by a referral program (Refiere y Gana) and merchant checkout integrations. Since 2019 Nelo has raised $25.6M in equity (notably a $20M Series A in October 2021 led by Two Sigma Ventures with Homebrew and Susa Ventures) and secured a $100M debt facility from Victory Park Capital in October 2022 to fund consumer lending originations.
Nelo firmographics
Firmographics- Name
- Nelo
- Legal name
- Nelo Mobile, S.A. de C.V.
- Website
- https://nelo.mx
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Ownership category
- akta.pro rank
Nelo industry classification
Industry- Product category
- Buy Now Pay Later
- NAICS
- Sales Financing (52222), Credit Intermediation and Related Activities (522), Activities Related to Credit Intermediation (5223)
- SIC
- Personal Credit Institutions (6141)
- akta.pro primary industry
- Merchant-Integrated BNPL (Online Checkout) (FSAKACAA)
- akta.pro secondary industries
- In-Store / In-Person BNPL (POS) (FSAKACAB), Buy Now, Pay Later (BNPL) Platforms (BPAMAFAG), Buy Now, Pay Later (BNPL) (CRAFALAD)
Keywords
Where Nelo is headquartered
LocationHeadquarters
- HQ city
- Mexico City
- HQ country
- Mexico
- HQ region
- Latin America
Offices1 record
Markets served
Nelo business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Others
Revenue model
- Installment Financing: Revenue generated from interest and financing fees charged on installment credit. The CAT (Costo Anual Total) for Tienda Nelo is 37.26% and for Tarjeta Nelo is 73.49%.
- Merchant Commissions: Nelo charges merchants commissions for using the platform and marketplace, as outlined in their commercial alliance contracts.
- Late Payment Fees: Commission charged when users fail to make timely payments on installments, calculated on the outstanding balance of the overdue installment.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Tienda Nelo - Installment purchases at partner merchants |
| Transaction based/ take rate | Pay-as-you-go | Tarjeta Nelo - Physical and virtual card for purchases |
| Transaction based/ take rate | Pay-as-you-go | Average across all products |
| Subscription | Monthly | Nelo VIP Program - Premium tier for best customers |
| Hybrid | Pay-as-you-go | Referral Program (Refiere y Gana) |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels4 records
Nelo product offering
Product offeringCore offering
Nelo operates a mobile-first buy-now-pay-later (BNPL) platform in Mexico that provides consumers with installment credit (paid on biweekly/quincenal cycles aligned to Mexican payroll) for online and in-store purchases, service bill payments, and cash withdrawals. The credit is accessed via the Nelo iOS/Android app, a physical or virtual card, and an integrated e-commerce marketplace (Tienda Nelo). The platform also reports repayment behavior to Mexican credit bureaus to help users build credit history.
Product overview
Nelo is a Mexico-based consumer payments and financial services platform operated by Nelo Mobile, S.A. de C.V. The company's core offering is a buy-now-pay-later (BNPL) credit product structured around biweekly (quincenal) installment payments. The unified product portfolio centers on the Nelo App, which serves as the front-end interface for all services. The product suite comprises the Tarjeta Nelo (available as both a physical and virtual card) serving as the primary Medio de Disposición for the credit line; Tienda Nelo, an integrated marketplace where users shop and pay in interest-free installments; Nelo VIP, a premium loyalty tier unlocking enhanced credit conditions and a physical VIP Plus card; Nelo Préstamos for general-purpose installment credit and SPEI cash disbursements; and Nelo Préstamos sin Buró targeting credit-invisible users. The Marketplace de Nelo is a B2B platform enabling third-party merchants to sell to Nelo users. All products are delivered through the Nelo App, with the Tarjeta Nelo extending the credit line to physical and online retail environments beyond Nelo's own marketplace.
Differentiator
Problem solved
Functional benefit
Brands
- Nelo VIP: VIP program offering enhanced benefits for top customers, including better credit conditions, exclusive promotions, increased credit limits, and access to physical and virtual Nelo cards.
- Tienda Nelo
Products and services
- Nelo App Mobile application (iOS and Android) that serves as the primary front-end for Nelo's BNPL services. Users self-register with CURP and INE, receive an immediate credit decision, manage their credit line, pay utility bills, withdraw cash via SPEI, shop at partner merchants, and access the Tienda Nelo marketplace.
- Tarjeta Nelo Physical and virtual credit card issued against the user's Nelo credit line. The physical card supports contactless and chip-and-PIN purchases at brick-and-mortar merchants; the virtual card enables online purchases and enrollment in Google Wallet for NFC contactless payments.
- Tienda Nelo Proprietary Nelo e-commerce marketplace where users can purchase products from multiple merchants and pay in interest-free biweekly installments. Payment is collected only upon receipt of the purchase.
- Nelo VIP Premium loyalty program for top customers. Eligible users unlock enhanced benefits including a physical Tarjeta Nelo VIP Plus card, better credit conditions, exclusive promotions, and higher credit limits, awarded based on consistent on-time repayment behavior.
- Nelo Préstamos en Línea (Online Loans) Online consumer loan (Crédito al Consumo) accessed through the Nelo app. Provides installment credit for paying services, purchases at affiliated merchants, or for personal cash disbursements via SPEI transfer to the user's bank account, repayable in biweekly installments.
- Nelo Préstamos sin Buró Credit product targeting consumers without an established credit history (no buró), allowing them to build or rebuild their credit profile through Nelo installment loans, independent of traditional credit bureau checks.
- Marketplace de Nelo (Merchant Platform) B2B merchant platform that enables third-party merchants (comercios) to list and sell products or services to Nelo users, who pay using Nelo's installment credit. Nelo provides the technology platform and payment processing while merchants manage inventory, fulfillment, and consumer relations under commercial alliance contracts.
Quantifiable outcome
- 35 million+ credits granted
- +2 more outcomes
Companies that use Nelo
Customer profileNamed customers15 records
Segments3 records
Ideal customer profiles2 records
Nelo technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
Feature5 records
Nelo partnerships and signals
Strategic signalScale indicators7 records
Recent moves6 records
Expansion highlights5 records
Nelo competitors and assessment
Company assessmentEmerging players
- Albo: Mexico-based neobank providing credit cards, deposits, and personal credit lines. Targets similar Mexican consumers with overlapping credit-product offerings.
- Stori: Mexico-based credit-card fintech serving underbanked consumers with Mastercard credit and installment features. Overlaps with Nelo on underbanked Mexican consumers and credit-building positioning.
- Klar: Mexican digital bank/neobank offering credit lines, debit, and savings accounts to underbanked consumers. Competes for the same Mexican consumer wallet through different product form factors.
Direct peers
- Kueski: Mexico-based BNPL and online lender offering installment credit and cash loans to underbanked consumers — the closest direct competitor to Nelo in terms of product, customer segment (underbanked), and geography.
- Aplazo: Mexico-focused BNPL platform enabling interest-free installments at online and physical merchants. Directly comparable in product mechanics, target customer, and Mexican market focus.
- Addi: BNPL platform operating across Latin America (Colombia, Brazil, Mexico) offering merchant-integrated installments. Comparable in product and LatAm expansion strategy, though with broader regional footprint.
Broad incumbents
- Mercado Pago: The payments and credit arm of Mercado Libre, operating across Latin America with massive user reach, BNPL offerings (Mercado Pago Cuotas), and merchant integrations. A scaled incumbent encroaching on Nelo's market.
- Nubank: Latin America's largest neobank with a Mexican subsidiary offering credit cards and installment products. Brings unmatched scale, capital, and brand to the segments Nelo targets.
Regional players
- Clip: Mexico-focused payments processor providing POS and merchant payment solutions. Adjacent peer on the merchant side of Nelo's two-sided marketplace.
- Ualá: Latin American neobank (Argentina-founded) with Mexican operations offering credit and payments products. Comparable as a regional financial-services super-app player expanding into Mexico.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights6 records
Customer concentration
Nelo social profiles
Digital presenceNelo compliance and trust
Trust signalCompliance3 records
Nelo financial estimates
Financial estimateRevenue estimate
Valuation estimate
Nelo leadership team
Management profileNumber of profiles
Profiles2 records
Nelo funding detail
Funding detailFunding overview
Funding rounds5 records
Investors12 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Nelo M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Nelo
What does Nelo do?
Nelo operates a mobile-first buy-now-pay-later (BNPL) platform in Mexico that provides consumers with installment credit (paid on biweekly/quincenal cycles aligned to Mexican payroll) for online and in-store purchases, service bill payments, and cash withdrawals. The credit is accessed via the Nelo iOS/Android app, a physical or virtual card, and an integrated e-commerce marketplace (Tienda Nelo). The platform also reports repayment behavior to Mexican credit bureaus to help users build credit history.
Is Nelo a public or private company?
Nelo is a private company. It is classified as venture growth investor backed and is currently operating.
When was Nelo founded?
Nelo was founded in 2019. It employs 11 to 50 people.
Where is Nelo based?
Nelo is headquartered in Mexico City, Mexico, in the Latin America region.
How does Nelo make money?
Three revenue lines are on record. Installment Financing is the primary driver. The others are merchant Commissions and late Payment Fees.
Who are Nelo's main competitors?
Emerging players on record are Albo, Stori and Klar. Direct peers are Kueski, Aplazo and Addi. Broad incumbents are Mercado Pago and Nubank. Regional players are Clip and Ualá.
Does Nelo have an API?
No public API is recorded for Nelo.
What industry is Nelo in?
Nelo's product category is Buy Now Pay Later. Its primary akta.pro industry code is FSAKACAA, Merchant-Integrated BNPL (Online Checkout), with a secondary code of FSAKACAB, In-Store / In-Person BNPL (POS). Its NAICS code is 52222 and its SIC code is 6141.