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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