Kapital, a financial institution and AI-driven platform for SMBs in Latin America, has closed a Series C funding round of up to US$100 million.

The round, led by Tribe Capital and co-led by Pelion Ventures with participation from Y Combinator, Marbruck Ventures, and True Arrow, has doubled the company’s valuation to US$1.3 billion in less than two years.

Kapital also reported achieving profitability.

The funding will be used to expand its AI-powered financial ecosystem for SMBs across the region.

Founded as a technology-first bank, Kapital built its systems as financial infrastructure rather than adapting legacy models.

This approach enables the company to create products in-house and to acquire traditional institutions, replacing older systems with its own technology.

“We are proud to join an elite group of unicorns emerging from Latin America. Kapital is already profitable, and our growth continues to accelerate through the unique combination of a banking license and proprietary software,”

said CEO Rene Saul.

“By taking a regulatory-first approach and ensuring each step in our expansion is aligned with policymakers, Kapital is setting a new standard for tech-enabled banking in the region.”

Kapital’s balance sheet has grown to US$3 billion, with a customer base of 300,000 across the US, Mexico, and Colombia.

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