Kapital raises $40 million

Bank and technology platform Kapital has closed a $40 million Series B financing round led by Tribe Capital, with participation from Cervin Ventures, Tru Arrow, MS&AD Ventures, Alumni Ventures among others. The startup also secured $125 million in debt.

Founded in 2021 and based in Mexico, Kapital offers a variety of financial products for SMEs across Latin America including loans, credit cards, invoicing and expense management. The startup plans to enter the payroll and benefits space.

Kapital claims to serve over 80k clients in Mexico, Colombia and Peru.

“Our recent funding round will propel us forward as we embark on an exciting expansion across Latin America and beyond. Over 80,000 customers already entrust us with the financial health of their businesses, and we are introducing more AI-driven products while pushing into new markets. We are grateful for the confidence our customers and our investors have shown in us, and we are excited for Kapital’s bright future ahead.” – Rene Saul, Kapital’s CEO and co-founder.

“Kapital is punching way above its weight. So many financial platforms raise billions before achieving this level of success: They’ve not only achieved venture-scale growth in a fraction of the time, but they’ve also done so profitably. And they’re just getting started: Kapital is in Latin America today, but the potential of the platform and the company’s growth aspirations are very much global. I can’t wait to see them grow from $100 million run rate revenue to $1 billion of revenue over the coming years.” – Arjun Sethi, chairman and CIO at Tribe Capital.