Mexican Fintech Kapital Hits Unicorn Status

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Mexican fintech Kapital Grupo Financiero has achieved unicorn status after securing $86 million in a Series C funding round, doubling its valuation to $1.3 billion. With this milestone, Kapital joins the ranks of a few Mexican companies — such as used-car platform Kavak, crypto exchange Bitso, and fintech firms Stori and Plata — that have reached the coveted billion-dollar valuation. Kapital’s rapid rise is largely credited to its banking license approval in Mexico, a key move that fueled growth. Founded in 2020 by CEO René Saúl and CFO Fernando Sandoval, Kapital is based in Mexico City. The Series C round was led by Tribe Capital and Pelion Ventures, with participation from Marbruck Ventures, True Arrow, and Y Combinator.