Xepelin raises USD 111 mln in Series B financing round

PayPal Ventures, Wellington, DST Global, Battery Ventures, MSA Novo, Endeavor Catalyst, FJ Labs, Picus, Amarena, Gunderson, Carlos García Otatti, Cathay-Seaya Latam, and Gilgamesh, have also participated in the financing round.

The resources will boost the growth of Xepelin in Mexico. Other positive implications for the Mexican market will be the progress in digital innovation especially adjusted to the national market, as well as hiring the local talent and beginning its expansion to other countries in the region.

Xepelin is providing business digital transformation by scaling the existing payment infrastructure and creating a platform for SMEs at a regional level. The company provides small and medium-sized companies with real-time financial information and integrates financial services with different data models that allow reducing, from weeks to hours, the time normally taken by the complicated financial processes they must go through, allowing SME teams and owners stay focused on running their business, rather than trying to figure out the finances.

Since its Series A, the company has grown to serve more than five times the number of clients in Chile and Mexico, grow revenues 60 times in Mexico, and launched a new B2B payments product that enables all businesses to organise and automate your payments, with and without financing, to your suppliers.