Chile-based Xepelin secures USD 230 mln in debt and equity

Monday 2 August 2021 12:40 CET | News

Fintech startup Xepelin, which has created a financial services platform for SMEs in Latin America, has secured USD 30 million in equity and USD 200 million in credit facilities, says TechCrunch.

LatAm venture fund Kaszek Ventures led the equity portion of the financing, which also included participation from partners of DST Global and other firms and founders/angel investors. LatAm- and US-based asset managers and hedge funds — including Chile-based pension funds — provided the credit facilities. In total over its lifetime, Xepelin has raised over USD 36 million in equity and USD 250 million in asset-backed facilities.

Also participating in the round were Picus Capital; Kayak Ventures; Cathay Innovation; MSA Capital; Amarena; FJ Labs; Gilgamesh Ventures. A group of angels also participated in the financing, including Kavak founder and CEO Carlos Garcia; Jackie Reses, executive chairman of Square Financial Services; Justo founder and CEO Ricardo Weder; Tiger Global Management Partner John Curtius; GGV’s Hans Tung; and Gerry Giacoman, founder, and CEO of Clara, among others.

Xepelin is built on a SaaS model designed to give SMEs a way to organise their financial information in real time. Embedded in its software is a way for companies to apply for short-term working capital loans ‘with just three clicks, and receive the capital in a matter of hours’, the company claimed. It has developed an AI-driven underwriting engine, which reportedly gives it the ability to make real-time loan approval decisions.

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Keywords: investment, fintech, startup, SaaS, SME lending
Categories: Banking & Fintech
Countries: Chile
This article is part of category

Banking & Fintech