Kiwi, a fintech using artificial intelligence to develop financial tools for unbanked Latinos in the United States, raised a $7.8M Series A. LIP Ventures and Advent-Morro Equity Partners co-led the round, with participation from Morro Ventures, Independent Capital, Neer Venture Partners, Invariantes Fund, and others.
Founded in 2020 by Dominican natives based in New York, Mariano Sanz and Alexander Schachter, Kiwi offers credit to US Latinos often overlooked by traditional banks. Kiwi uses its proprietary AI to automate the entire loan process, from applications and fraud prevention to loan management. Kiwi’s approach is to first solve the immediate need for credit, building trust with users before expanding its services.
Kiwi grew its revenue by over 300% in 2024, maintaining profitability while increasing its demand among major Hispanic markets in the United States. Kiwi will use the funds to further accelerate its expansion in the US, deepen its artificial intelligence capabilities, and develop new products tailored to its users’ financial needs.
Since its launch, Kiwi has served over 100,000 users. With this new round, Kiwi has raised over $15M in equity to date, as well as $75M in a credit facility.
