Join us as we explore Klar’s journey through the lens of Luis Ortiz, the company’s Chief Operating Officer. Since Klar’s launch in 2019, he has witnessed and played a leading role in the evolution of this company, capable of winning the hearts (and taking care of the finances) of millions of Mexicans.
Luis Ortiz,“We work closely with startups and tech partners to complement each other’s strengths and move faster toward our goals”.
COO of Klar.
From consulting to fintech frontlines: Luis Ortiz’s journey
Luis’s path is a perfect example of how consulting experience can serve as a launchpad for entrepreneurship. After years at firms like McKinsey and Bain & Company —where he met Klar’s CEO and founder, Stefan Möller— Luis saw an opportunity to put his strategic vision into practice at a startup that was anything but ordinary.
“Back in 2019, Stefan told me about the idea, and now, six years later, a lot of those crazy ideas scribbled on paper are becoming reality,” Luis recalls.
Klar’s mission: Financial inclusion in Mexico
From day one, Klar set out to challenge the traditional banking model in Mexico —a country where access to financial services has historically been out of reach for many. “Klar is a financial institution. We were founded with the mission of democratizing and facilitating access to financial services in Mexico”, says Luis.
The goal was to build a disruptive alternative that would deliver more value and better service to users. And they’ve done just that. “A recent report showed that 75% of the Mexican population now has access to banking and financial products —largely thanks to companies like Klar and other fintechs”, explains our CMO, Juanjo Gómez.
This progress benefits not just people, but the economy as a whole.
Sustainable profitability: The secret behind Klar’s success
In an industry where many fintechs burn through capital at lightning speed, Klar has shown that it’s possible to scale profitably and sustainably. In fact, the company recently announced it had reached profitability —a major milestone that didn’t go unnoticed. But, what is their secret?
According to Luis: “For us, the key is scaling the business efficiently and progressively, always keeping the customer at the center and having a clear focus on profitability”, he stated
He adds that profitability isn’t just important for investors —it’s also crucial for building user trust. “In the financial sector, it is also a key element for them, as it stands as one of the most significant measures of trust”, Luis says.
Three basic ingredients for the success of a Fintech
What sets Klar apart from other fintechs operating in Mexico? Their COO believes it comes down to three fundamental pillars: technology, user experience, and a real focus on the Mexican market.
Technology at the core
Although Klar is a financial institution, they consider themselves a technology company. “We always say Klar is a financial institution, but if you look under the hood, we’re a tech company”, Luis notes. Their tech-first approach allows them to operate with efficiency and deliver top-notch customer satisfaction.
Customer experience above all
At Klar, every decision starts with the customer. “We make sure everyone at Klar always puts the customer first. Any decision has to begin with asking, ‘How will this affect them?’”, says our guest. Understanding user pain points and continuously improving the platform is a constant priority.
Local focus and real commitment
Unlike other Fintechs that operate in multiple countries, Klar focuses exclusively on Mexico. The COO argues that customer needs vary so much from one country to another that it’s impossible to apply the same approach: “We don’t believe it can be done like that, in such a general way —a one-size-fits-all solution for all of Latin America”, he explains.
By combining these three ingredients, Klar has managed to offer a model that is far more efficient than traditional banks, allowing them to pass that value on to the end users.
Juanjo nods and then talks about Coinscrap Finance’s experience in Latin America: “Every market is different. Although the language is the same, it is important to consider the particular characteristics of each country.”
Navigating the regulatory maze: Klar’s strategy
In the fintech world, regulation is always top of mind. For Klar, regulation is not just a challenge, but also an opportunity to build trust and clearly define the playing field. “Regulation, in the end, is something that we have had at the core of the business from day one”, says the executive.
They’ve worked closely with regulators from the start “to ensure everyone’s aligned for the next step”. In fact, the fintech has applied for a banking license, a long and complex process that can take years. However, he sees it as a natural step in the company’s evolution.
💡 Luis Ortiz said…
“For us, becoming a bank is just the logical evolution… it’s like finally building a permanent home“
Expansion plans and new horizons
With over 2 million active users and the recent acquisition of Tribal (a company focused on SMEs), Klar is consolidating its position in the Mexican market. With part of the business directed at companies, our Marketing Manager wanted to know what the future holds for the company and how they are approaching a potential expansion into other countries.
“It’s the question that is always there”, acknowledges Luis. However, the answer is clear: for now, the focus remains 100% on Mexico. “The market in Mexico is too large and still presents too many customer needs and opportunities for Klar”, he says. The idea is to continue expanding their offerings and serve other user groups that are still not well addressed.
A future driven by innovation and social commitment
As we wrap up our conversation with Ortiz, it becomes clear that Klar is not just another fintech. It’s a company with a clear mission: to transform the financial landscape in Mexico and create a positive impact on society. Their Chief Operating Officer shares an ambitious yet well-grounded vision: “We have a commitment to our board, but also to Mexican society”, affirms Luis.
The power of shared vision
Klar’s culture stands out for being horizontal, empathetic, and focused on constant innovation. “Our goal is for every employee to feel empowered to drive change and to understand that it’s their responsibility to move the pieces needed to make it happen”, says Luis. This strategic approach has been essential to Klar’s success.
For those dreaming of entrepreneurship, our guest offers a valuable piece of advice: reflect deeply on the needs you want to address and create solutions that truly make a difference. This not only ensures market relevance, but also reinforces the purpose behind every project. “80% of the population in Mexico does not have formal access to financial services”, he emphasizes.
Partnering with tech allies to succeed
“Designing products for everyone —not just the top 5%” is what defines this fintech. “Technology is enabling a paradigm shift and our goal is for Klar to lead that change”, the executive states. The company is well on its way to becoming the biggest change agent in the Mexican financial industry.
Juanjo wanted to know his opinion about the trends that will shape the coming months, and our guest was clear: The personalization of financial products is about to make a qualitative leap to shape this new paradigm. Delivering value to the end customer also means addressing their specific and changing needs.
With this reflection, our interview comes to an end. All that remains is to thank our guest for giving us his time, and to everyone who has joined us.
Thank you very much for being there!
