Clip – A WSA Success Story
Clip, the premier payment platform providing both digital transaction solutions and point-of-sale devices, has secured a $100 million investment from Morgan Stanley Tactical Value and a West Coast investor. This latest funding round maintains the company’s $2 billion valuation, consistent with its Series D round.
Founded in 2012 by Adolfo Babatz and Vilash Poovala in Mexico City, Clip has made significant strides in payment technology, leveraging artificial intelligence and machine learning to enhance its offerings. Clip was recognized for its innovative contributions in 2014, winning the WSA (World Summit Award) in the Business & Commerce category.
“There’s a lot of money waiting to be invested in high-quality companies that are delivering results. We’re happy to share this news with the broader tech community both in Mexico and in Latin America, which I think is in need of some really good news.”
Adolfo Babatz, co-founder of Clip, highlighted the strong interest from investors: “There’s a lot of money waiting to be invested in high-quality companies that are delivering results. We’re happy to share this news with the broader tech community both in Mexico and in Latin America, which I think is in need of some really good news.” Clip is expanding its footprint, aiming to bring its solutions to more businesses across Latin America.
The traditional process of obtaining a credit card terminal in Mexico is notoriously cumbersome, taking anywhere from four to nine months, along with costly monthly rents and commission fees. Small businesses, artists, and market vendors often find it impractical to navigate this complex system. However, Clip offers a streamlined alternative, revolutionizing m-commerce for small enterprises.
With Clip, businesses can receive a device within four days, compatible with any Android or iOS smartphone connected to the internet. Clip charges a single commission rate, regardless of the credit card used, simplifying the process significantly. Its ease of use is evident, having been successfully tested by users ranging from a nine-year-old child to a 70-year-old grandmother. This plug-and-play solution is risk-free and incredibly user-friendly, empowering small, medium, and large businesses to accept all credit cards effortlessly.
Clip's journey, marked by its WSA award in 2014, underscores its commitment to innovation and its impact on the business and commerce landscape.