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After leaving his job at PayPal, Adolfo Babatz created Clip in 2012, a small payment-reading box that allows businesses in Mexico to accept bank cards from any bank by connecting to a smartphone. Five years later, in 2017, Clip had become the fourth-largest payment method in terms of number of businesses. In 2021, almost a decade after its launch, the company raised US$250 million in an investment round led by Softbank Latin America Fund and Viking Global, converting it into Mexico’s second unicorn, with a valuation of close to US$2 billion. It currently has 600 employees and operates in Mexico, the U.S. and Argentina.
