On September 3, 2025, Kapital, a Mexico City-based neobank focused on small and medium-sized enterprises (SMEs), announced it has achieved unicorn status after successfully raising $100 million in a Series C funding round, which doubled its valuation to $1.3 billion.
The funding round was co-led by Californian VC firm Tribe Capital and Pelion Ventures, with additional support from Marbruck Ventures, True Arrow, and Y Combinator. Kapital stated the capital will be used to accelerate the development of its “unified, AI-powered financial ecosystem.”
Founded in 2020 by CEO Rene Saul, CFO Fernando Sandoval, and managing director Eder Echeverria, Kapital provides banking services for SMEs, including business checking accounts, loans, and wealth management tools. The company secured a banking license in Mexico in 2023 through the acquisition of Banco Autofin.
Kapital currently serves 300,000 customers across Mexico, Colombia, and the US, and manages a $3 billion balance sheet. The neobank has a history of significant funding, previously securing $40 million in Series B equity financing and a $125 million debt facility in December 2023. This followed an earlier $23 million Series A round and a $45 million debt facility in May 2023.
The company identifies itself as Latin America’s first AI unicorn. Its recent valuation places it among other regional firms that have attained unicorn status, such as Mexico’s Plata, which reached a $1.5 billion valuation after a $160 million Series A funding round in March.
