TransUnion set to acquire majority stake in Trans Union de Mexico
By Gloria Mathias
TransUnion has signed a definitive agreement to acquire majority ownership of Trans Union de Mexico, S.A., S.I.C., the consumer credit business of the largest credit bureau in Mexico, Buró de Crédito.
TransUnion currently owns approximately 26% of Trans Union de Mexico, has held seats on its board of directors for over two decades, and serves as one of its technology providers.
TransUnion has agreed to acquire an additional 68% from selling shareholders, including several of the largest banks operating in Mexico. This would increase TransUnion’s ownership to approximately 94%. Buró de Crédito’s commercial credit business is excluded from the transaction.
“Our expansion in Mexico continues our commitment to making trust possible in global commerce,” said Chris Cartwright, President and CEO of TransUnion. “Credit bureaus are a catalyst for financial inclusion, and we are excited for the opportunity to bring the benefits of our technology, innovative solutions, and industry expertise to Mexican consumers and businesses. We also look forward to supporting the country’s digital transformation objectives to empower consumers with increased economic opportunity.”
Mexico has the 12th-largest global economy and the second-largest in Latin America. Its population is growing, and the middle class is emerging. Consumer credit in Mexico is rapidly expanding, and over half of Mexican adults have at least one financial product. After the transaction closes, TransUnion intends to leverage its global operating model to strengthen Trans Union de Mexico’s services to the Mexican market, including additional efforts to drive financial inclusion.
“We anticipate that our planned acquisition of Buró de Crédito’s consumer credit business will strengthen our leadership position in Latin America and will make TransUnion the largest credit bureau in Spanish-speaking Latin America,” said Carlos Valencia, Regional President of TransUnion Latin America. “We see substantial opportunity to introduce global products like trended and alternative credit data, fraud mitigation solutions, and consumer engagement tools. We also plan to expand beyond traditional financial services into adjacencies such as FinTech and insurance.”
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