PayPal Ventures Invests in Xepelin $111 Million Series B, Led by Avenir and Kaszek

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Xepelin, the leading B2B payments and financial services platform for SMBs in Latin America, today announced it has raised an $111 million Series B funding round led by Avenir and Kaszek with participation from PayPal Ventures, Wellington, DST Global, Battery Ventures, MSA Novo, Endeavor Catalyst, FJ Labs, Picus, Amarena, Gunderson, Carlos Garcia, Cathay-Seaya Latam, Gilgamesh, among others. This equity fundraise comes less than a year after its successful $230 million Series A, the largest in Latam history.

Consumer payments in LatAm have made a huge shift to the online world during Covid, a time when individuals have moved more of their purchasing to the internet to minimize in-person transactions, accelerating the existing trend by years. Digital payments are faster, more convenient, and here to stay.

Xepelin is leading the shift to digital in B2B by scaling payments infrastructure and a regional platform for SMBs. The company's mission is to be the "Digital CFO for B2B Companies" and has started by solving B2B payments and working capital needs for SMBs with its intuitive tech platform. By embracing a digital-first approach, real-time financial information, embedded financial services and complex data models, the company has reduced painful processes from weeks to hours, helping teams stay focused on what they care about most: operating their business.

After capturing strong market share in Chile, Xepelin entered the Mexican market and has quickly positioned itself as the leader in Mexico. Since its Series A, the company has grown to serve over 5x more clients in Chile and Mexico, increased revenues in Mexico 60x, and launched Xepelin Payments, a new B2B payments product that enables all companies to organize and automate their payments, with and without financing, to suppliers. Xepelin Payments is the fastest growing product in the company's history. The Series B funding will be used to accelerate growth by scaling B2B payments in the region, hiring additional talent, launching new products, and expanding to new countries in LatAm.

"Our vision is to be the leading B2B fintech in LatAm,” said Nicolas de Camino, Xepelin's Co-founder and Co-CEO. “From the beginning we put SMBs at the center of everything, treating them as real partners, something that sounds almost obvious, but which in practice has been by far the most neglected and forgotten segment by financial services."

"We were built to solve emerging market problems," said Sebastian Kreis, Xepelin's Co-founder and Co-CEO. "We are moving fast - our goal is to solve the biggest pain points of all SMBs in LatAm, all in one place that also connects them with their entire ecosystem and above all, democratized in such a way that everyone can access it, regardless of whether you are a company that sells billions of dollars or just a thousand dollars, getting the same service and conditions."

Since inception, Xepelin has had significant traction in LatAm. The company currently has operations in Mexico and Chile, and has over 400 employees across the region that drive its growth.

"Xepelin is at the forefront of innovation in the LatAm fintech market.” said Jamie Reynolds, Partner and Co-founder at Avenir. “We are excited to support the team's mission to empower SMBs with a best-in-class financial services and payments platform."

"Xepelin has identified the opportunity to help SMBs manage their finances remotely and improve cash flow at scale,” said Nicolas Szekasy, Co-founder and Managing Partner at Kaszek Ventures. “We are thrilled to continue backing Sebastian and Nicolas as they take Xepelin to the next levels."

"SMBs in LatAm are underserved in terms of capital and services and Xepelin is working to change that with an efficient and tech enabled platform," said Ashish Aggarwal, Director at PayPal Ventures. "Our investment will help the team add and scale more services, like its recent payments launch, to solve the true pains of thousands of businesses in the region."

About Xepelin

Xepelin is a Latin American SMB-focused FinTech. Founded in 2019 by Sebastian Kreis and Nicolas de Camino. The company's mission is to become the "digital CFO for B2B companies" across LatAm - user friendly and accessible to all. It allows its 15K+ users to organize and view their finances on one platform as a single source of truth, as well as provide them with B2B payments, AR/AP financing, and revenue-based financing. The company aims to centralize and automate all cash flow operations for SMBs, leveraging its payments network effects to scale faster, helping SMBs sell more and getting new customers. It serves SMBs from all regions and industries in Mexico and Chile, helping founders, managers and their teams stay focused on what they care about most: operating their business. Xepelin is backed by Avenir, Kaszek, DST Global, PayPal, Wellington, Picus, Kayyak, FJ Labs, Amarena, Kavak founder Carlos Garcia and ex-head of Square Capital Jackie Reses. Xepelin has raised over $146 million in equity and $300 million in asset-backed facilities to date. -Additional information please contact:

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