Oxxo, Mexico’s Biggest Convenience Chain, Bets It Can Become a Major Lender

Oxxo, Mexico’s largest convenience chain, is expanding into lending through its parent company FEMSA, which partnered with QED Investors, a global fintech fund. FEMSA retains majority control of the lending business, while Spin, its financial app, operates across 24,000 Oxxo stores with 11 million active users.