Kapital, a bank and tech platform, has secured significant funding, including $40 million in a Series B round and $125 million in debt financing. The Series B was led by Tribe Capital, with participation from Cervin Ventures, Tru Arrow, MS&AD Ventures, and Alumni Ventures. This follows Kapital’s $20 million Series A earlier this year, which also included $45 million in debt.
Founded in 2020 in Mexico City by Rene Saul and Fernando Sandoval, Kapital aims to provide small businesses with financial visibility comparable to large enterprises through data and AI. This includes real-time management of business operations and cash flow, and AI-driven underwriting for small business loans.
Despite small businesses comprising 90% of global businesses, in Mexico, only a small fraction have access to bank credit, a gap Kapital seeks to address. The company has grown its customer base to 80,000 small businesses across Mexico, Colombia, and Peru. It also expanded by acquiring Banco Autofin Mexico in September.
Kapital, which is profitable and has seen a sixfold revenue increase in the last year, plans to use the new funds for R&D and technology development. This includes enhancing cross-border services and expanding its product suite with predictive analytics technology. With operations in three Latin American countries, Kapital aims to build a global bank to facilitate faster money movement and eventually connect customers worldwide.