Mexican fintech Kapital raised $20M in Series A funding led by Niya Partners and Tribe Capital. In addition, the company secured $45M in debt facility, following an $8.6M seed round less than a year ago.
The capital will boost product development and further expansion in Colombia, as Kapital aims to redefine SMB banking in Latin America.
“We’ve underwritten over 100 fintech companies and nearly none of them have been able to monetize. Kapital flipped the model on its head: utilize fintech as an acquisition channel.” said Arjun Sethi, Tribe Capital’s CEO.
Kapital offers SMBs in Latin America financial services such as cash flow management, credit solutions, and investment opportunities. The company, with over 11,000 active users, developed an algorithm to assist customers in forecasting future revenue and offers timely loan support.
Read more at: TechCrunch
