Earlier this year SoftBank Group invested $20 million into the Mexican payments startup called Clip, marking one of their first investments in the region; Clip which was founded in 2012 offers a mobile credit card reader that connects to smartphones; common clients include cafes, vendors etc.; the company is now valued between $350 and $400 million; there are a few things that make Mexico interesting for fintech investments including the fact that many people do not have bank accounts but have access to smartphones; startups also commonly have lower valuations, have less competition and rarely raise $100 million rounds. Source
