Chilean fintech Xepelin raised $20M in a bridge round led by Nazca Ventures. The financing values the company at about $400M, down more than 40% from its previous $720M valuation.
Founded in Chile, Xepelin provides financing and financial services to small and medium-sized businesses across Latin America, with a strong focus on Mexico.
The capital will support efforts to secure a Sofipo license, a regulatory approval that would allow Xepelin to scale in Mexico.
Xepelin generates close to $100M in annual revenue and has worked with more than 70,000 companies since its founding.
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