Rewriting the History of Banking - Stefan Möller, Co-Founder & CEO of Klar

Wharton FinTech Podcast

In this episode, Miguel Armaza interviews Stefan Möller, Co-Founder and CEO of Klar, a Mexican challenger bank working to democratize debit and credit in Mexico. Klar is making credit accessible to all Mexicans, including those with no credit history. It helps people build credit by looking at how and where they spend their money, without having to rely on obsolete and traditional credit scores. Klar’s business has experienced rapid growth having issued over 25,000 credit lines amongst its 200,000 customers in less than 12 months and their growth has tripled during the pandemic. Klar has raised almost $73 million in debt and equity from some of the most prestigious funds in the industry, including Prosus Ventures, the World Bank’s IFC, Quona, Mouro Capital, aCrew, FJ Labs, and Gilgamesh Ventures*. Stefan Möller Stefan Möller is the Co-Founder and CEO of Klar, a Mexican challenger bank working to democratize debit and credit in Mexico. Before starting Klar, Stefan was a Venture Director at Nova Founders Capital, a global fintech investment company where he learned first hand the challenges faced by consumers seeking access to decent financial services. Before Nova Founders, Stefan worked as a consultant at Bain and Company where he developed a deep understanding of the limitations faced by financial institutions in their path to digital transformation. Prior to that, Stefan developed several entrepreneurial ventures in Mexico and Germany. Stefan has an MBA from IESE Business School in Barcelona, and a BA in Economics from the Goethe Institut in Frankfurt and studies in Yale university. About Klar Klar has been working to democratize financial services in Mexico since 2019 by offering a 100% digital, transparent, free and secure alternative to traditional credit and debit services. Unlike traditional financial institutions, Klar provides consumers with a unique set of features and benefits. For more information visit: www.klar.mx * Miguel Armaza is a Co-Founder of Gilgamesh Ventures and a proud supporter of Klar.