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HomeBusinessLatAm fintech start-up Kiwi secures $80m in funding

LatAm fintech start-up Kiwi secures $80m in funding

Date:

Latin American fintech start-up Kiwi has secured $80 million in funding, including a $75 million credit facility and $4.5 million in its pre-Series A funding round. The funding will be used to meet growing demand, expand services, introduce new financial products, and reach more customers in the US and Latin America.

Facts

  • Kiwi has secured $80 million in funding, consisting of a $75 million credit facility and $4.5 million in its pre-Series A funding round.
  • The credit facility was provided by i80 Group, while Advent-Morro Equity Partners, Altio Capital, and Independent Capital led the equity round.
  • Founded in 2020 and headquartered in New York, Kiwi assists Latino consumers in the US in building their credit history.
  • Kiwi leverages AI and machine learning models to provide affordable capital and improve financial literacy for its customers.
  • Kiwi currently serves over 30,000 customers and aims to equip underserved Latin immigrants with the necessary tools and resources to establish credit and access capital.
  • With the new funding, Kiwi plans to meet increasing demand, accelerate growth, introduce new financial products, and expand its services.
  • Kiwi aims to extend its reach to more customers across the US and Latin America, addressing the challenges faced by underbanked consumers and positively impacting their financial lives.

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