Mexico City-based AI-powered platform for small and medium-sized businesses (SMBs) Kapital has secured up to $100 million in a Series C funding round, doubling the firm’s valuation to $1.3 billion.
The round was led by Tribe Capital and co-led by Pelion Ventures, with participation from Y Combinator, Marbruck Ventures, and True Arrow.
Kapital was established as a technology-driven bank to assist SMBs in Mexico and Colombia with accessing capital while efficiently managing operations, loans, and cash flow. The firm has amassed 300,000 customers and maintains a balance sheet of $3 billion.
Rene Saul, CEO of Kapital, stated: “By taking a regulatory-first approach and ensuring each step in our expansion aligns with policymakers, Kapital is setting a new standard for tech-enabled banking in the region.”