Kapital, a Mexico City-based bank and technology platform, raised $40M in a Series B round and secured $125M in debt financing led by Tribe Capital with support from Cervin Ventures, Tru Arrow, MS&AD Ventures, and Alumni Ventures. This investment follows their $20M Series A in May of 2023.
Co-founded in 2020 by Rene Saul and Fernando Sandoval, Kapital’s mission is to equip small businesses with the same level of financial transparency and insights typically reserved for larger corporations. The platform leverages data and artificial intelligence to enhance its services, including AI-driven underwriting for small business loans and providing insights into business operations and cash flow management.
“In Mexico, only 10.5% of small businesses have access to total bank credit. That’s what we’re fixing — we give them visibility of their finances. Our goal is to build a global bank to eventually connect everybody in the world,” stated CEO and Co-founder Rene Saul.
Kapital, having grown its revenue 6x in the past year, plans to use the new funding for R&D and technology development. The fintech aims to enhance the platform’s cross-border offerings and expand the product suite, focusing on predictive analytics.
Read more at latamfintech.com