DiDi Mexico Acquires JP Sofiexpress to Boost Financial Services

DiDi Mexico has acquired a SOFIPO (Sociedad Financiera Popular) to expand its financial product offerings in the country, aiming to promote financial inclusion following the recent approval from the National Banking and Securities Commission (CNBV).

“This acquisition will enable the company to offer convenient, accessible, and secure digital financial services to users and clients, marking the beginning of an ongoing effort to strengthen our offerings and bridge financial inclusion gaps in the country,” DiDi said in a statement. The Chinese-origin firm identified JP Sofiexpress as the best fit for its business objectives due to the entity’s solid market experience.

The purchase of JP Sofiexpress aligns with DiDi Mexico's strategy to develop an ecosystem that promotes financial inclusion and will not impact current customers. “Current customers of JP Sofiexpress can rest assured they will continue to use their services. DiDi Mexico commits to maintaining continuous communication with them, ensuring high-quality service,” DiDi stated.

Since entering the financial services sector three years ago, DiDi has issued over 10 million digital loans. The technological process for obtaining a loan is streamlined, takes around 10 minutes, and can be completed via a mobile phone. 

The acquisition of JP Sofiexpress, which has been operational since November 2009, will enable DiDi to expand its offerings to include savings products for the general public and support the funding of its credit operations. JP Sofiexpress had 7,872 clients, 19 branches, and assets totaling MX$238 million as of December last year, representing 0.33% of the total sector of popular financial societies.