Chile-based Xepelin, a payment platform for business and financial services for SMEs in Latin America, has reportedly received a $140m loan from Goldman Sachs.
The funds were supplied to support Xepelin’s expansion into Mexico, according to a report from The Paypers. It also reported that this is Xepelin’s largest credit facility, and the funds are denominated in Mexican pesos.
Xepelin is also looking to expand into other nations, but it did not reveal which countries are targeted. The payment platform aims to reach one million clients by 2025, with it currently serving 15,000.
The company supplies SMEs with real-time financial information and integrates financial services with different data models that reduce the time normally taken by the complicated financial processes.
Clients using Xepelin access a dashboard to monitor their operations, as well as pay bills, advance payments on invoices and more.
The payment platform recently raised $111m for its Series B round in May 2022. The capital injection was led by Avenir and Kaszek, with the participation of PayPal Ventures, Wellington, DST Global Partners, Battery Ventures, MSA Novo and many others.
Prior to that, it raised $230m in a mixture of debt and equity in August 2021.
Earlier in the year, Mentum raised $4.2m in its seed round led by Gradient Ventures. The company, which stylises itself as the investment API for Latin America, operates in Chile and Colombia.
Goldman Sachs has supported several FinTech companies this year. It recently deployed $150m into Latin American technology startup Clara, which offers corporate expense management solutions. The company offers business credit cards, an expense management system, as well as a SPEI payment and transfer platform.
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