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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.
