Kapital Joins Unicorn Club: A Mexican Fintech Milestone
Mexican fintech firm Kapital achieved unicorn status with a valuation exceeding $1 billion. This milestone follows strategic acquisitions and an $86 million funding round led by Tribe Capital and Pelion Ventures. Kapital plans further growth through its proprietary software and recent bank acquisitions amidst regulatory scrutiny.
Kapital, a Mexican financial technology firm, reached the coveted unicorn status after its valuation surged past $1 billion following a new funding round. The company stands out as one of the few Mexican firms to achieve this milestone, joining the likes of Kavak, Bitso, and Stori.
The funding round, led by Tribe Capital and Pelion Ventures, secured $86 million for Kapital, bringing its total valuation to $1.3 billion. Operating in Colombia and headquartered in Mexico, Kapital is incorporated in Delaware, underscoring its international reach.
Kapital's growth trajectory is fueled by strategic acquisitions, including the purchase of Autofin and Intercam's assets. These moves aim to bypass lengthy banking license applications and align with compliance directives amidst scrutiny, promising further expansion with a planned $100 million investment in banking operations.
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