Kapital raises $125M to push its AI banking platform into the US and Europe

Latin America’s first AI unicorn just got a fresh injection of capital. Kapital, the Mexican fintech built around AI-driven financial services for small and mid-sized businesses, announced a $125 million financing round on September 9, 2026, extending the Series C it closed in 2025.

The round combines equity led by Tru Arrow Partners with debt financing from Fasanara Capital. The new capital will fund expansion across Mexico, the United States, Colombia, Spain, and additional Latin American markets, alongside continued investment in Kapital’s AI platform and product development.

Numbers that are hard to argue with

Kapital’s first-half 2026 results make the fundraise feel less like a bet and more like a follow-on from a company already printing money. Net income for the period came in at roughly $50 million.

The loan portfolio crossed $1.7 billion, up 220% year-over-year. Deposits surpassed $3.5 billion, a 234% jump over the same period.

The company is holding a non-performing loan ratio of 2.86% and an efficiency ratio of 34.9%.

Kapital now serves more than 350,000 customers and describes itself as one of the largest B2B financial institutions in Latin America. The customer base is predominantly underserved SMBs, a segment that traditional Mexican banks have historically treated as too costly to underwrite at scale.

How Kapital got here

René Saúl and Fernando Sandoval founded the company in 2020 with a straightforward premise: credit underwriting for small businesses works better when you feed cash-flow data into a machine rather than relying on a loan officer’s judgment and a paper tax return.

The 2025 Series C raised approximately $110 million and pushed the company’s valuation above $1.3 billion, earning it the Latin America’s first AI unicorn label. The World Economic Forum has recognized Kapital as a Technology Pioneer.

CEO René Saúl described the purpose plainly.

“This new capital will allow us to accelerate our next phase of growth and expand our impact in priority markets.”

The company has also flagged that it is pursuing organic growth alongside targeted acquisitions to deepen its technology stack.

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