Tribal Secures $60m in Series B Round

Tribal has secured $60 million in a Series B round led by SoftBank Latin America Fund, with Coinbase Ventures, BECO Capital, QED Investors, and Rising Tide also participating.

By acquiring secondary shares, Circle Ventures, AGE Fund, Third Prime, Canas Capital, and Acuity Ventures became strategic investors.

The Series B funding round which raised $60 million leads to a total of $140 million after having raised $40 million in a crypto and fiat hybrid debt round led by Partners for Growth (PFG) and Stellar Development Foundation (SDF), and $34.3 million in a combined Series A and debt round led by QED Investors as well as PFG, with additional participation in the equity round by SDF.

"Tribal is attracting the best talent to power our business growth. We've grown our LatAm volume by 90x in 2021. We're thrilled to have value-add investors with strong operating experience who share our vision of democratizing access to world-class financial services for emerging-market SMBs," said Amr Shady, Chief Executive Officer at Tribal.

"At the intersection of crypto, credit, and payments, there are amazing opportunities for FinTechs in emerging markets. We could not be more excited for what 2022 holds for us and our customers," added Mohamed Elkasstawi, Chief Strategy Officer at Tribal.