- Mexican SME payments platform, Kapital, has raised $40m in a Series B funding round.
- The round was led by Tribe Capital and also saw participation from the likes of Cervin Ventures, Tru Arrow, and MS&AD Ventures.
- Kapital, founded in 2021, provides a financial automation platform and services such as credit, billing, payroll and business card services for SMEs.
- The funds will be used to invest in R&D, improve its cross-border offering, and enhance the use of Artificial Intelligence and predictive analytics within its product suite.
Payments platform for SMEs, Kapital, has successfully raised $40 million in a Series B investment round, additionally securing a $125m debt facility. The round drew support from a range of financial entities, with Tribe Capital taking the lead and Cervin Ventures, Tru Arrow , MS&AD Ventures and Alumni Ventures amongst other contributors.
Founded in 2021 and domiciled in Mexico City, Kapital’s product suite is designed to facilitate financial automation and includes services like credit, billing, payroll and business card provision for a customer base that spans Mexico, Colombia and Peru. Currently, Kapital serves over 80,000 customers across these regions. In recent history, Kapital raised $23 million through a Series A funding event and secured a $45 million debt facility as of May 2023. Moreover, Kapital managed to acquire retail and SME-focused entity, Banco Autofin Mexico for a $50 million consideration.
Looking ahead, Kapital intends to utilise the proceeds from the latest funding round to catalyse research and development initiatives. The aim is to optimise Kapital’s cross-border offerings and apply Artificial Intelligence (AI) and predictive analytics tools to its existing product suite.
Rene Saul, CEO and co-founder of Kapital, stated the new funds will help “propel” the company forward in its strategic quest to proliferate its product suite across Latin America and develop AI-driven products.
