LatAm fintech start-up Kiwi secures $80m in funding
Latin American fintech start-up Kiwi has secured $75 million in a credit facility and $4.5 million in its pre-Series A funding round.
Kiwi secures $80m funding
The credit facility was provided by i80 Group, with Advent-Morro Equity Partners, Altio Capital and Independent Capital leading the equity round.
Founded in 2020 and based in New York, USA, Kiwi helps Latino consumers in the US build their credit history, offering them affordable capital by leveraging AI and machine learning models, as well as helping them improve their financial literacy. Kiwi now claims to serve over 30,000 customers.
“We take pride in equipping underserved Latin immigrants with the tools and resources necessary to establish credit and secure access to capital,” says Mariano Sanz, co-founder and CEO of Kiwi.
“Addressing the difficulties faced by underbanked consumers in joining the traditional credit system will have the most significant positive impact on their financial lives.”
With the new funding, the company plans to meet the “surge” in demand and propel its growth, introduce new financial products, and expand its services to reach more customers across the US and Latin America.
