Propaga

Propaga is a Mexico City-based fintech offering WhatsApp-native BNPL credit (15-day terms, $35 MXN flat fee) to 15,000+ corner stores buying inventory from wholesalers, assuming 100% of collection risk and paying distributors same-day.

Company typePrivate
Founded-
HeadquartersCiudad de México, Mexico
Headcount11–50
GTM typeB2B
OfferingSoftware

What Propaga does

Propaga operates a B2B Buy Now Pay Later (BNPL) platform purpose-built for Mexico's informal retail channel, legally domiciled as MICHASAN SAPI DE CV and headquartered in Mexico City. The company extends short-term trade credit (15-day tenor) to small neighborhood stores (tienditas / abarrotes) so they can purchase inventory without upfront cash and without a credit-bureau check. Propaga assumes 100% of the collection risk, pays wholesalers the same day, and collects a flat $35 MXN fee per transaction from the store. The platform runs natively on WhatsApp — registration, purchase confirmation (via PIN), and repayment all occur in-chat, with no app downloads required; sub-2-minute onboarding is a core UX claim. The product targets two sides of the retail value chain: SMB corner stores on the PLG/wholesale side and mid-market distributors (mayoristas) on the sales-led side, with an SDK and REST API enabling wholesalers to embed the BNPL flow into their own checkout experiences. Repayment is supported through SPEI bank transfers and 50,000+ cash-in locations to serve the underbanked segment. Propaga claims 15,000+ active stores, +30% income gains for users, >85% retention gains for wholesalers, and has scaled operations across Mexico City, Monterrey, Saltillo, and Estado de México. The company is privately held, has no disclosed funding rounds, and operates with a small team (~15 employees).

Propaga firmographics

Firmographics

Name: Propaga
Legal name: MICHASAN SAPI DE CV
Website: https://propaga.mx
Company type: Private
Operating status: Operating
Headcount range: 11–50 employees
Short description: Propaga is a Mexico City-based fintech offering WhatsApp-native BNPL credit (15-day terms, $35 MXN flat fee) to 15,000+ corner stores buying inventory from wholesalers, assuming 100% of collection risk and paying distributors same-day.
Ownership category
akta.pro rank

Propaga industry classification

Industry

NAICS: Sales Financing (52222)
akta.pro primary industry: B2B / Invoice-Based BNPL (Trade Credit at Checkout) (FSAGAIAC)
akta.pro secondary industries: Merchant-Integrated BNPL (Checkout POS Financing) (FSAGAIAA), BNPL Merchant Enablement (Plugins, Gateways, Reconciliation) (FSAGAIAF), BNPL Platform Infrastructure (APIs, Orchestration, Merchant Tools) (FSAKACAE)

Keywords

BNPL services
Trade credit
Corner store financing
WhatsApp lending
Inventory credit

Where Propaga is headquartered

Location

Headquarters

HQ city: Ciudad de México
HQ country: Mexico
HQ region: Latin America

Offices1 record

Markets served

Propaga business model

Business model

GTM type: B2B
Offering type: Software

Revenue model

Transaction Fee / BNPL Commission: Propaga charges a flat fee per transaction ($35 pesos) when customers use the BNPL service. The company pays wholesalers/distributors the same day and assumes 100% of collection risk.

Pricing tiers

Model	Billing	Price
Transaction based/ take rate	Pay-as-you-go	BNPL Transaction Fee

Go-to-market motion2 records

Distribution channels4 records

Marketing channels3 records

Propaga product offering

Product offering

Core offering

Propaga provides a WhatsApp-native Buy Now Pay Later (BNPL) trade credit platform for small Mexican corner stores (tienditas), allowing them to purchase inventory from wholesalers and pay within 15 days for a flat $35 MXN fee per transaction, with no credit bureau check required. Propaga pays wholesalers the same day and assumes 100% of the collection risk. The offering is complemented by an SDK and REST API for wholesale distributors to embed the BNPL flow into their own checkout systems.

Product overview

Propaga operates a B2B Buy Now Pay Later (BNPL) platform specifically designed for the Mexican corner store market (canal tradicional). The core product enables small retailers to purchase inventory on credit with 15-day payment terms and no credit bureau requirements. The company offers two developer-facing integration options: an SDK for seamless BNPL flow display at checkout, and a REST API for transaction processing with product-level detail. Both tools target wholesale distributors seeking to offer credit terms to their retail customers.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

15,000+ corner stores actively using Propaga
+7 more outcomes

Companies that use Propaga

Customer profile

Named customers10 records

Segments2 records

Propaga technology and API

Technology

API detail

Has API: Yes
API docs
API detail

Core technology

AI maturity

App detail

Feature4 records

Propaga partnerships and signals

Strategic signal

Partnerships

One partnership is on record.

Principales Proveedores y Distribuidores de MéxicocoreOthersPropaga works with major suppliers and distributors across Mexico who accept their BNPL payment method. New partners join monthly to expand coverage.

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

Propaga competitors and assessment

Company assessment

Direct peers

Aplazo: Aplazo is a Mexican BNPL startup offering interest-free installment payments for online and offline merchants. Comparable to Propaga as a Mexican BNPL peer with merchant-integrated checkout financing, though Aplazo skews more toward consumer e-commerce while Propaga serves the B2B tiendita channel.
Nelo: Nelo is a Mexican consumer credit/BNPL fintech offering credit lines and installment plans to underbanked consumers in Mexico. Comparable as a Mexico-based BNPL/credit fintech targeting segments underserved by traditional banks, similar in customer profile to Propaga's informal-retail merchants.
Addi: Addi is a LatAm BNPL platform operating in Colombia, Brazil, and Mexico offering installment payments at online and in-store checkout. Direct competitor to Propaga in Mexican BNPL with broader geographic scope but a more online-checkout focus versus Propaga's B2B trade-credit orientation.
Kueski: Kueski is a leading Mexican BNPL and online consumer credit fintech. It is a direct peer to Propaga in the Mexican BNPL space, though Propaga differentiates by serving B2B tiendita trade credit via WhatsApp while Kueski focuses on online consumer checkout BNPL.
Stori: Stori is a Mexican credit-card fintech serving underbanked consumers with no credit history. Direct peer to Propaga in addressing thin-file Mexican consumers via alternative underwriting, though Stori's product is a revolving credit card rather than Propaga's short-term B2B trade credit.

Broad incumbents

Mercado Pago: Mercado Pago is the payments and credit arm of Mercado Libre, dominant in Mexican e-commerce and increasingly in offline SMB payments and credit. Broad incumbent that competes with Propaga by offering BNPL, working capital, and point-of-sale credit to merchants, with vastly deeper capitalization and distribution.
Konfío: Konfío is a Mexican SMB lending fintech providing working capital and credit lines to small and mid-sized businesses. Comparable to Propaga in targeting the underserved Mexican SMB credit market, though Konfío focuses on larger SMEs via online origination while Propaga focuses on micro-merchants in the informal channel.
Clara: Clara is a Mexican corporate card and spend-management platform serving SMBs with credit and payments. Broad incumbent peer to Propaga in the Mexican SMB credit and fintech infrastructure space, with a different target customer size and product set but overlapping value proposition around embedded credit for businesses.
Nubank Mexico: Nubank operates a digital bank in Mexico offering credit cards, personal loans, and increasingly BNPL-style products to underbanked consumers. Broad incumbent comparable to Propaga in serving thin-file Mexican borrowers with alternative-data underwriting, with much larger scale and balance-sheet capacity.

Emerging players

OpenPay: OpenPay is a Mexican payments and BNPL processor serving merchants with installment payment options at checkout. Emerging player peer to Propaga as a Mexico-based BNPL/fintech infrastructure provider for merchant checkout flows, with broader e-commerce and in-store BNPL versus Propaga's B2B tiendita focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks1 record

Key highlights7 records

Customer concentration

Propaga financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Propaga leadership team

Management profile

Number of profiles

Propaga funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Propaga M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Propaga

What does Propaga do?

Is Propaga a public or private company?

Propaga is a private company. It is currently operating.

When was Propaga founded?

Propaga was founded in -1. It employs 11 to 50 people.

Where is Propaga based?

Propaga is headquartered in Ciudad de México, Mexico, in the Latin America region.

How does Propaga make money?

One revenue line is on record: transaction Fee / BNPL Commission.

Who are Propaga's main competitors?

Direct peers on record are Aplazo, Nelo, Addi, Kueski and Stori. Broad incumbents are Mercado Pago, Konfío, Clara and Nubank Mexico. OpenPay is listed as an emerging player.

Does Propaga have an API?

Yes. Propaga offers an API that enables buyers to access financing through their platform. The API supports transaction creation with fields including wholesalerTransactionId, cornerStoreId, totalAmount, and product details (sku, productName, quantity, price). The company also offers an SDK for displaying the BNPL flow at checkout with custom design matching the user's interface. Documentation is accessible via 'Check out API' link on the website.

What industry is Propaga in?

Its primary akta.pro industry code is FSAGAIAC, B2B / Invoice-Based BNPL (Trade Credit at Checkout), with a secondary code of FSAGAIAA, Merchant-Integrated BNPL (Checkout POS Financing). Its NAICS code is 52222.