Chile-based fintech Xepelin announced on Friday it has raised a $230 million round in equity and asset backed facilities in its Series A funding led by Kaszek and DST Global.
Other investors include Picus Capital, Kayak Ventures, MSA Capital, Amarena, Cathay Innovation and Seaya Ventures, FJ Labs, and Gilgamesh Ventures as well as individual investors like Carlos Garcia (Founder & CEO Kavak), Jackie Reses (former head square capital), Ricardo Weder (Founder & CEO Justo), John Curtis (Tiger), Hans Tung (GGV), Gerry Giacoman (Founder & CEO Clara) and Nico Barawid (Founder & CEO Casai).
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Xepelin offers a SaaS platform for small and medium-sized business in Latin America where they can organize their financial information in real-time. Embedded within the product teams can apply for short term working capital loans with just three clicks, and receive the capital in a matter of hours.
“Our goal is to scale a platform that can solve the true pains of all SMEs in Latam, all in one place that also connects them with their entire ecosystem and above all, democratized in such a way that everyone can access it, regardless of whether you are a company that sells billions of dollars or just a thousand dollars, getting the same service and conditions.” says Sebastian Kreis, co-founder and co-CEO of Xepelin, in a press statement.
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Xepelin has operations in Mexico and Chile with over 4000 clients and assets for $120 million. To date, Xepelin has raised over $36 million in equity and the company has an asset-backed facility for more than $250 million that will allow exponential growth.
The deal puts Chile on the spotlight for venture capital, as the foodtech NotCo turned out to be the new Chilean unicorn earlier this week. Between last year and 2021, the volume of investments skyrocketed in all Latin America, reaching an all-time high.
Reports from LAVCA (Association for Private Capital Investment in Latin America) and CB Insights show that companies in Latin America raised at least $6 billion in venture capital investments in the first half of 2021.