Kapital raises $125M Series C to expand AI banking across US, Europe
In brief
- Kapital closed $125M Series C extension led by Tru Arrow Partners and Fasanara Capital
- Loan portfolio reached $1.7B (up 220% YoY); deposits surpassed $3.5B (up 234% YoY) in H1 2026
- Expansion targets Mexico, US, Colombia, Spain, and additional Latin American markets
- Company serves 350,000+ customers; Latin America's first AI unicorn label holder
Momentum and scale
Kapital's loan portfolio crossed $1.7 billion, up 220% year-over-year in the first half of 2026. Deposits surpassed $3.5 billion, a 234% increase over the same period. The company reported net income of roughly $50 million for H1 2026.
Kapital maintains a non-performing loan ratio of 2.86% and an efficiency ratio of 34.9%, metrics that signal tight credit discipline in a market segment traditional banks often overlook. The company serves more than 350,000 customers and describes itself as one of the largest B2B financial institutions in Latin America.
Path to expansion
The new capital will fund expansion across Mexico, the United States, Colombia, Spain, and additional Latin American markets. This extension builds on momentum from 2025, when Kapital's 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.
René Saúl and Fernando Sandoval founded Kapital in 2020 with a focus on AI-driven credit underwriting for small businesses. The customer base is predominantly underserved SMBs, a segment that traditional Mexican banks have historically treated as too costly to underwrite at scale.
The World Economic Forum has recognized Kapital as a Technology Pioneer. The company is pursuing organic growth alongside targeted acquisitions to deepen its technology stack, signaling an intent to build defensibility beyond its core credit engine as it scales into developed markets.
