Revolut invests $64 million to boost Mexico growth after launch

MEXICO CITY, May 5 (Reuters) - ​The ⁠Mexican arm of digital ​bank Revolut, which launched in the country ​in ‌late January, reported a capital injection of ⁠about $64 million last month, raising its ⁠total investment in ​the country to $167 million as it bolsters its expansion in Latin America's second largest ​economy, ‌the company said on Tuesday.

The UK-based digital bank said the capital injection was formalized through a 1.12 billion ​Mexican pesos ($64.47 million) increase to its basic ‌capital.

BY THE NUMBERS

* Revolut's total assets surged 275% in ‌Q1, the company reported just nine weeks after its public launch.

* The bank had ​over 290,000 registered customers on its Mexico app as ‌of end-March.

* Revolut posted a quarterly net loss of 153 million pesos.

* "The ⁠response ⁠from Mexicans has exceeded ‌our expectations," Revolut Mexico CEO Juan Guerra said, adding ​that the ​new funds will accelerate ‌product rollout and growth.