Background on Klar and its Founder, Stefan Möller
Klar, a technology-driven financial entity currently operating under the Sociedad Financiera Popular (Sofipo) framework, has recently initiated its application process for a banking license. Founded and led by Stefan Möller, Klar has spent the past five years focusing on individual consumers and is now preparing to expand its services to small and medium-sized enterprises (SMEs).
Klar’s Growth and Acquisition
In an interview with El Economista, Möller explained that Klar has been in talks to acquire a company with a similar business model, but catering specifically to SMEs. He stated, “We believe this is not just a trend; it’s what Mexico’s President advocates for, and it complements our business well.”
With over 2 million active users and a monthly revenue exceeding 450 million pesos, Klar has established itself as one of Mexico’s leading Sofipos. The company’s success lies in its self-sustaining operations, providing access to millions of individuals for credit products, personal loans, savings, and investments.
Klar’s Entry into the SME Segment
Möller mentioned that Klar is currently in a trial phase for the SME segment, with plans to launch full-scale operations in this market during the upcoming summer. He emphasized, “Our DNA of consumer lending can be applied to this underserved sector, where 20% of potential clients are targeted by large institutions, while the remaining 80% remain neglected.”
Klar aims to offer tailored credit lines and interest-bearing accounts with attractive rates, leveraging technology to make informed decisions with reduced uncertainty compared to traditional banking methods.
Regulation: The Key to Klar’s Success
Möller stressed the importance of regulation in Klar’s growth strategy. As a Sofipo level four entity, Klar is already beginning to resemble a bank in certain aspects. He explained, “Klar transitioned from level one to level four Sofipo in just 18 months due to business scale. Level four is close to a bank regarding capital requirements, which is crucial as we aim to avoid situations requiring three times more capital.”
Klar is prepared to face additional operational regulations but feels confident in its capital positioning for this new venture into the highly regulated and supervised SME segment.
Key Questions and Answers
- What is Klar’s current status? Klar operates under the Sociedad Financiera Popular (Sofipo) framework and has initiated its banking license application process.
- Why is Klar expanding to the SME segment? Mexico’s President advocates for this sector, and Klar believes it complements their existing business well.
- What makes Klar’s entry into the SME segment unique? Klar aims to cater to the 80% of potential SME clients currently neglected by larger financial institutions.
- How is Klar preparing for regulatory changes? Klar has already reached Sofipo level four, which resembles banking operations in several aspects. They are confident in their capital positioning for this new venture.
