Mexican SME payments platform Kapital raises $40m Series B
Mexican SME payments platform Kapital has raised $40 million in Series B equity financing and a $125 million debt facility.
Kapital raises $40 million Series B
The round was led by Tribe Capital, with participants including Cervin Ventures, Tru Arrow, MS&AD Ventures and Alumni Ventures, among others.
Founded in 2021 and based in Mexico City, Kapital offers a financial automation platform and credit, billing, payroll and business card services for SMEs, claiming over 80,000 customers in Mexico, Colombia and Peru.
It last raised $23 million in a Series A funding round and $45 million debt facility in May 2023, and paid $50 million to acquire retail and SME-focused Banco Autofin Mexico in September.
Kapital says it will leverage its latest funding to invest in R&D, with the specific aim of furthering its cross-border offering, and the use of AI and predictive analytics within its product suite.
Rene Saul, CEO and co-founder of Kapital, adds that the funding will “propel us forward” as the company seeks to expand its position across Latin America and introduce more products levering AI.
