Vexi offers a suite of credit card products, including the Vexi American Express® and Vexi Carnet, designed to facilitate everyday transactions without annual fees or income verification. The platform provides cashback rewards and flexible payment options, addressing the need for accessible financial tools for consumers in Mexico.
Funding
$35.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many individuals in Mexico lack access to traditional credit cards due to limited income or lack of credit history, hindering their ability to make purchases and build a positive credit profile. This restricts their access to financial services and opportunities for economic advancement.
Solution
Vexi provides accessible credit card products, including the Vexi American Express® and Vexi Carnet, designed for individuals in Mexico who may not qualify for traditional credit cards. These cards offer a digital-first experience with no annual fees and without requiring income verification, making them easier to obtain. Vexi cards provide cashback rewards on purchases, access to installment plans, and a referral program, enabling users to build credit and participate in the digital economy. The Vexi mobile app allows users to manage their cards, track transactions, and access security features, providing a comprehensive and user-friendly experience.
Target Audience
The primary target audience is individuals in Mexico with limited income or credit history who are seeking accessible credit card options to make purchases, build credit, and participate in the digital economy.
Features
- Vexi American Express® and Vexi Carnet credit card options
- No annual fees and no minimum purchase requirements
- Cashback rewards on streaming services (5%), restaurants (3%), and other stores (1-2%)
- Referral program that rewards users for referring new customers
- Option to defer purchases into 3, 6, 9, or 12-month payment plans
- Mobile app for managing card activity, tracking rewards, and accessing account statements
- Security features including biometric login, transaction notifications, and the ability to turn cards on/off
- Digital card access for online purchases
- Customer service via VexiBot with AI