PayPal Ventures Invests in Financial Services Platform Xepelin

Xepelin, the leading B2B payments and financial services platform for SMBs in Latin America, 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.

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Xepelin is leading the shift to digital in B2B by scaling payments infrastructure and a regional platform for SMBs. After capturing strong market share in Chile, Xepelin entered the Mexican market and has quickly positioned itself as the leader in Mexico. 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.

"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."