Lana Wallet

Lana Wallet operates through Lanapay México, S.A. de C.V., Institución de Fondos de Pago Electrónico, a regulated fintech institution in Mexico authorized by the Comisión Nacional Bancaria y de Valores (CNBV) under the Law to Regulate Financial Technology Institutions (Ley Fintech). Originally founded in Madrid, Spain in 2019 by CEO Pablo Muñiz as Lana Fintech, the company launched operations in Mexico in 2020, specifically targeting gig economy workers and traditionally underbanked populations in Latin America. Lanapay received its authorization as an Electronic Payment Funds Institution in October 2021 after applying to CNBV in August 2020. The company secured $12 million in Series A funding in August 2020, led by Base10 Partners with participation from mobility company Cabify and Cathay Innovation. The platform provides digital financial services through a mobile application that allows users to open fully digital accounts without traditional banking requirements. Users can receive a free Mastercard debit card delivered to their homes, save money, perform SPEI transfers at no cost, and pay bills. The service charges a monthly fee of 43 MXN plus VAT for use of the Lana Wallet application. Lana's business model encompasses both B2C services for gig workers such as drivers and delivery workers, and B2B services for companies employing gig economy workers, offering peer-to-peer payment systems. The company operates across multiple Latin American markets including Mexico, Chile, and Peru, with the goal of providing financial inclusion to populations traditionally excluded by incumbent banks. Lana Wallet is supervised by CNBV, Banco de México, and CONDUSEF.