The round, led by Tribe Capital and supported by various investors including Cervin Ventures and MS&AD Ventures, follows a $20 million Series A earlier in 2023.
Founded by Rene Saul and Fernando Sandoval in 2020, Kapital aims to democratize financial services for small businesses. It offers tools for financial management, leveraging AI for loan underwriting and business insights. This approach addresses a significant gap in Mexico, where only a small fraction of small businesses access total bank credit.
The company has witnessed substantial growth, with a sixfold increase in revenue over the past year. This latest influx of capital will fuel further development, focusing on research and technological advancements. Kapital’s strategic plan includes enhancing cross-border functionalities and expanding its product offerings, particularly in predictive analytics, to better serve its clientele. This move is in line with their ambition to establish a global banking network that connects businesses worldwide.
