Chilean fintech Xepelin obtained $140 million to increase its operations in Mexico

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Xepelin, the Chilean fintech that gives monetary companies for small and medium-sized corporations, introduced that world funding banking big Goldman Sachs had offered it with a $140 million asset-backed securities credit score line.

The proceeds will gas Xapelin’s enlargement in Mexico, the place the corporate seeks to change into a B2B funds market chief.

As well as, this funding will allow Xepelin to proceed working to streamline transactional and monetary processes and supply fee and credit score companies to extra corporations within the area.

Nicolas de Camino headshot
Nicolas de Camino

Thus far, that is their most in depth credit score line, which has a 3-year maturity and might be launched in 2 phases: within the first, they’ll deploy $40M, and within the second, $100M.

“This huge financing displays the arrogance that not solely our clients but in addition our buyers have in our enterprise mannequin. A very powerful factor for Xepelin is to unravel the pains that corporations face financially,” stated in a be aware to the market Nicolas de Camino, Co-CEO of Xepelin.

‘Excited for assist’

“We’re very excited to have the assist of Goldman Sachs. GS is likely one of the largest world funding banks on this planet, and we’re delighted to start out a long-term relationship with them. With this vital funding, we are going to look to proceed to increase our companies and thus present digital funds and financing options to all B2B corporations in Chile and Mexico,” added Sebastian Kreis. He additionally runs Xepelin because the Co-CEO.

Xepelin has operations in Mexico and Chile, with greater than 15,000 clients, producing greater than $1.2 billion in financing.

Associated:

This Goldman Sachs financing additional contributes to the $230 million raised, between debt and fairness, in a Collection A spherical in mid-2021 and $111 million raised in a Collection B spherical led by Avenir and Kaszek.

This Collection B spherical had counted on the participation of main worldwide funds akin to PayPal Ventures, Wellington, DST World, Battery Ventures, MSA Novo, Endeavor Catalyst, FJ Labs, and Picus, amongst others.

Based in 2019 by Nicolas de Camino and Sebastian Kreis, Xepelin is predicated on a SaaS mannequin designed to provide SMEs a real-time option to arrange their monetary data. Built-in into its software program is a manner for corporations to use for short-term working capital loans.

AI to know threat

Xepelin additionally makes use of synthetic intelligence know-how to assemble public data from corporations, akin to knowledge from tax businesses, making a device to know credit score threat higher.

Thus far, the agency has generated greater than $1.2 billion US in financing for regional corporations.

After consolidating robust participation in Chile, Xepelin entered the Mexican market and rapidly positioned itself as a pacesetter within the sector. 

Since its Collection A, the corporate has grown to serve greater than 5 instances the variety of shoppers in Chile and Mexico. It has additionally elevated revenues 60 instances in Mexico, the place it launched Funds. This new B2B funds product permits corporations to prepare and automate their funds to their suppliers, with and with out financing.

Mexico, Xepelin’s guess to increase its operations in Latin America, has a market of 30 million corporations and is the place the corporate intends to speculate greater than $200 million within the coming years.

  • Jorge C. Carrasco is a Cuban journalist and author based mostly in Brazil. He has contributed to a number of publications, akin to International Coverage, The Spectator Australia, Estadão, Época, Washington Examiner, and Quillette, amongst others.

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