Xepelin, a Chilean company that offers business and financial services to SMEs across Latin America, has received a $140 million loan from Goldman Sachs for the development of its payment platform for business and financial services.
According to a report from The Paypers, the money was obtained in order to support the expansion of Xepelin into Mexico. Additionally, it stated that this was the largest credit facility Xepelin had ever secured, as well as that the funds were denominated in Mexican pesos.
Additionally, Xepelin is also looking to expand into other countries, but the company did not specify what countries it is targeting at the moment. By 2025, the platform aims to serve one million users. Currently, it has reached 15000 users, and it aims to reach one million by then.
It’s a company that provides SMEs with real-time financial information and integrates financial services with various data models in a way that reduces the time taken by complicated financial processes that are normally involved.
With Xepelin, clients have access to a dashboard that allows them to track their operations, pay their bills, advance payment on their invoices, and more.
It was reported recently that the payment platform is set to raise $111 million as part of its Series B round in May 2022. In addition to Avenir and Kaszek as the lead partners, PayPal Ventures, Wellington, DST Global Partners, Battery Ventures, MSA Novo and a number of other investors also contributed to the capital injection.
In August 2021, the company raised $230 million in a combination of debt and equity from investors.
An earlier round of funding led by Gradient Ventures earlier this year resulted in Mentum raising $4.2 million in a seed round. Interestingly, the company, which is described as Latin America’s investment API, isn’t based in one country, but is present in both Chile and Colombia.
Several FinTech companies have been supported by Goldman Sachs during the course of this year. A Latin American tech startup called Clara, which offers solutions for managing corporate expenses, was recently funded with $150 million by the company. This company offers a variety of business credit cards, an expense management system, and a platform for sending payments and transferring funds through SPEI.
A payment platform for business and financial services for SMEs in Latin America has reportedly received a $140m loan from Goldman Sachs.
The funds were supplied to expand Xepelin’s business into Mexico.
Xepelin has raised $500 million USD. Its largest credit facility, $350 million USD is denominated in Mexican pesos, which is the equivalent of about $250 million USD in US dollars.
Xeljan is planning to expand into other countries as well, but it didn’t reveal where.
The payment platform has recently reached one million clients and has been expanding aggressively. It aims to serve over 10,000 new clients by 2020.
The company supplies small and medium-sized businesses with real-time financial information and integrates financial services with different data models. They also reduce the time normally taken by the complicated financial processes.
Customers using Xepelin access a dashboard to monitor their operation, as well as pay bills, advance payments on invoices and more.
Payments company recently raised $111m for its Series B round.
Some of the investors include Avenir, Kaszek and PayPal Ventures; the latter will also provide funding to the start-up.
It is a successful ecommerce company. Prior to that, it raised $230 million in a mixture of debt and equity in August 2021.
Earlier this year, Mentum raised $4.2m from Gradient Ventures in its seed round.
This company is the Investment API for Latin America. It operates in Chile and Colombia.
Goldman Sachs has been supporting several FinTech companies this year. I’ve got a little trick for you to make your content more interesting. Don’t say the same thing over and over again.
Clara, a Latin American start-up that recently raised $150M, has built a business that makes expense management simple for corporations.
The company offers several types of credit cards, an expense management system, a SPEI payment and transfer platform, and a number of other tools for managing your business finances.