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Foley & Lardner LLP recently represented Kapital, a global bank and technology platform, in its Series B round led by Tribe Capital. Kapital raised $40 million in Series B preferred equity and $125 million in debt in this round. Other investors included Cervin Ventures, Tru Arrow, MS&AD Ventures, and Alumni Ventures.

This marks another major transaction for Kapital in 2023, after it previously announced a $23 million Series A preferred equity and $45 million in debt in May 2023, and the acquisition of Banco Autofin Mexico S.A. in September 2023. Proceeds from the debt raised in this round will be used to accelerate buildout of predictive analytics technology so that business customers know how to improve margins by selecting different vendors, and to provide loans to 80,000 customers in existing markets including Mexico, Columbia, and Peru.

Kapital, based in Mexico City, is leveraging artificial intelligence to disrupt the way that small and medium size Latin American enterprises operate. Kapital’s technology platform leverages deep and broad data sets with artificial intelligence previously available only to the largest enterprises, enabling customers to access and manage their business operations and cash flow in real time. Kapital also uses AI to underwrite small business loans and is expanding into payroll and benefits services.

The Foley team was led by partners Louis Lehot, Lyman Thai, and Andre Thiollier and included associates Erik Nguyen, Ashley Youn-Jae Lee, Saige Gallop, and Robin Zhang.

Foley’s Venture & Growth Capital attorneys understand the complex and diverse needs of both venture funds and their portfolio companies and offer a broad range of services at each stage of development. The attorneys have insight into the unique needs of high-growth companies operating in the technology, life science, smart manufacturing, and clean energy sectors.

Author Louis Lehot

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