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Contxto – On October 1, Xepelin, a Chilean financial platform created for SMEs to grow, raised a US$2.5 million seed round led by Ideas Impact VC.
This is Xepelin’s third funding round, bringing its total funding amount to US$3.5 million. Other investors in this recent round include Oskar Hejertonsson, Manutara Ventures, Ignacio Canals, Gonzalo Rojas, FJ Labs, Diego Fleischmann, and Daniel Undurraga.
Simple, fast, and safe
These are the words that people want to hear when working with any financial lender. Xepelin brings this reassurance with its alternative and digital financial services designed for SMEs operating across Latin America.
With more than 1,000 enrolled companies and over US$90 million financed according to its website, Xepelin has developed a user-friendly platform for affiliates to streamline every aspect of operations ranging from purchase orders to investment opportunities and direct financing.
Under this falls quick and transparent access to credit sources, low rates, the possibility to implement flexible payment methods to attract more customers, more efficient accounting tools, among other benefits. In turn, small and medium-sized businesses can better adapt to future business demands and opportunities without any risks or predatory policies.
Less waiting in line
From a testimonial on Xepelin’s website, customers such as Andrés Rosales from Sacer Spa decided to dodge the bureaucracy and long wait times for approval that often comes with working with banks in Chile, especially when you’re trying to get the ball rolling.
“At first we thought about going to a bank but the problem is that we needed a series of documents and paperwork,” said Rosales, who definitely felt crunched for time. Luckily, Xepelin ensures fast approval when companies need quick liquidity.
“We are very grateful to Xepelin because they trusted us. Thanks to this financing alternative, we began to have more flow that allowed us to pay salaries, benefit packages, and daily taxes, as well as buying new materials.”
Such easy access to fiscal services has been particularly beneficial during the novel Covid-19 virus where numerous companies have needed to adapt to remote working on top of financial losses.