MEXICO – Kapital, a Mexico City-based global bank and tech platform, raised $160m in equity and debt funding.
The company closed a $40m Series B equity financing round and $125m debt raise. Tribe Capital led the Series B, with participation from Cervin Ventures, Tru Arrow, MS&AD Ventures, Alumni Ventures among others.The company will use the funds to invest further in its R&D and tech platform to strengthen its cross-border offering and grow its product suite to provide insights for its customers. Led by Rene Saul, CEO and Co-Founder, Kapital leverages data and artificial intelligence (AI) to provide SMEs with an account to see and manage their business cash flows in real-time dashboards. Since announcing a $23m Series A funding round and $45m debt facility in May 2023, Kapital has continued to grow rapidly, fueled by its acquisition of Banco Autofin Mexico S.A. in September 2023. With these developments, the company is building a vertically integrated tech platform stretching beyond its current reach of loans, credit cards, invoicing and expense management – into payroll and benefits services, as well as treasury accounts.Today it serves 80,000 clients in Mexico, Colombia and Peru. 14/12/2023
