Mexico City-based fintech doubles valuation as it expands AI-driven banking for SMBs.
Kapital, a Mexico City-based fintech serving small and medium-sized businesses, has raised up to $100 million in a Series C round at a $1.3 billion valuation. The funding makes Kapital Latin America’s first AI-focused unicorn, doubling its valuation from two years ago.
The company previously raised $165 million in 2023, including $40 million in Series B equity and $125 million in debt. Kapital said its combination of a banking license and proprietary AI software has enabled both profitability and rapid expansion.
“We are proud to join an elite group of unicorns emerging from Latin America” CEO Rene Saul said. “Kapital is already profitable, and our growth continues to accelerate through the unique combination of a banking license and proprietary software.”
Kapital provides financial infrastructure that integrates AML/KYC compliance, machine learning, and AI-driven risk systems. The firm says this allows it to develop new products quickly and acquire traditional financial institutions, which it rebuilds on its own technology stack.
The fintech now manages a $3 billion balance sheet and serves 300,000 customers across Mexico, Colombia, and the U.S. CFO Fernando Sandoval said Kapital is “emerging as the most forward-looking technology bank in the region — built on a foundation that is both financial and computational.”
The raise follows Kapital’s announcement last month that it plans to acquire the brokerage, asset management, and banking assets of Grupo Financiero Intercam, pending due diligence. Kapital said it would invest $100 million into strengthening compliance and operations after the deal closes.