Xepelin raises $111 million in the latest round of funding
Chile-based B2B payments company Xepelin has raised $111 million in a Series B round of funding led by Avenir and Kaszek with participation from PayPal Ventures, Wellington, DST Global, Battery Ventures, MSA Novo, Endeavor Catalyst, FJ Labs, Picus, Amarena, Gunderson, Carlos Garcia, Cathay-Seaya Latam and Gilgamesh.
This comes after the company had raised $230 million in a Series A funding round last year.
According to PayPal Ventures, the Xepelin platform is innovating inB2B digital payments by scaling infrastructure and a regional platform for SMEs. The company is moving towards the solution of B2B payments and working capital needs by “embracing a digital-first approach, real-time financial information, embedded financial services and complex data models”.
As noted, since the series A round, the company has managed to launch Xepelin Payments, a new B2B payments product that enables all companies to organize and automate their payments, with and without financing, to suppliers.
The latest funding would be used towards growth expansion by scaling B2B payments in the Latin America region and launching new products and services.
The company is currently operational in Chile and Mexico.
“SMBs in LatAm are underserved in terms of capital and services and Xepelin is working to change that with an efficient and tech-enabled platform,” said Ashish Aggarwal, Director at PayPal Ventures.
Founded in 2019, Xepelin is a Latin American B2B payments company providing companies with payment infrastructure, AR/AP financing and revenue-based financing.
With this funding, the total capital raised by fintechs this year has been $1,248 million excluding this funding.