Palenca Raises US$4 Million to Tackle Income Data Gaps in Mexico

Palenca, an income verification platform for financial institutions, closed a US$4 million investment round led by Experian to address the lack of reliable data that continues to hinder credit expansion in the Mexican market. The funding round included participation from Foundation Capital, Gilgamesh Ventures, and Dhow Ventures.

The investment aims to solve a structural information gap, where financial institutions lack verifiable income data to lend to new consumer segments. José Carlos Aguilar, CEO and co-founder, Palenca, stated that Mexico remains among the most underpenetrated markets in terms of financial inclusion. “The best available variable for origination is income. Without that, the system simply cannot grow into new segments,” Aguilar said. He noted that the growth of the credit sector depends more on building new data infrastructure layers than on launching new financial products.

Palenca currently operates in Mexico, Brazil, Colombia, and Peru, with its primary focus on the Mexican market. The company functions as a specialized data infrastructure provider — often described as an “income bureau” — that helps institutions improve risk models and expand formal credit access. By providing a bridge between earnings and lending, the platform aims to improve conditions for existing bank clients while onboarding millions of previously excluded individuals into the formal financial system.

Palenca processed approximately 5 million verifications in 2025 and projects reaching 20 million in 2026. The company intends to use the capital to develop new data products, expand validation across diverse income sources — including informal employment — and strengthen predictive models through artificial intelligence. By validating earnings, the platform enables banks to offer formal credit to individuals who currently lack financial visibility, addressing one of the core bottlenecks in credit penetration.

The Progress of Digital Financial Inclusion

The recent funding and focus on untapped markets represent a natural progression in Palenca’s strategy to drive financial inclusion, a trajectory that gained momentum through its 2023 integration with the Falabella Soriana Card. Initiated in December 2023, the collaboration sought to enhance product placement and reduce delinquency rates by several percentage points while refining digital risk processes.

The partnership integrated Palenca into the digital onboarding model of the credit card, allowing customers to apply by providing their Unique Population Registry Code (CURP) and monthly income. This data enabled Falabella to perform more precise risk analysis and offer personalized credit lines. Leonardo Lacomoni, director general of Tarjeta Falabella Soriana, described Palenca as a pivotal “income bureau” that streamlined customer acquisition and improved the accuracy of credit risk assessments.

At the time of the integration, Palenca executives emphasized the role of digitization in simplifying access to financial products. Abraham Procopio, commercial director, Palenca, stated that the company was engaged in more than 10 compliance processes with major industry players during the initial phase of the Falabella partnership. “We will not stop until we become the ‘income bureau’ that changes lives by simplifying access to financial products,” Procopio said.