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The B2B fintech raised US$111 million in a Series B led by the Kaszek and Avenir funds. Kaszek had already participated in the company’s Serie A, while Avenir is doing it for the first time. Also investing in the round were PayPal Ventures, Wellington, DST Global Partners, Battery Ventures, MSA Novo, Endeavor Catalyst, FJ Labs, Picus, Amarena Gunderson, Carlos García, Cathay-Seaya Latam, and Gilgamesh.
With this new capital, the Chilean startup founded in 2019 accumulated US$457 million in funding, according to Crunchbase data. The company describes its model as a SaaS platform for small and medium-sized LatAm businesses to organize their financial information in real-time.
“We will continue working to democratize access to financial services for all LatAm companies, supporting them as the digital CFO [Chief Financial Officer] of each of them”, Xepelin team wrote as a result of this news.