The Series B round follows, in less than a year, the Series A round of $230 million.

Xepelin, a Latin American fintech for B2B payments and financial services focused on SMBs, has closed on a $111 million Series B 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. (PayPal)

Solid progress

Xepelin claims to have made progress in solving the payments issues that plagued SMBs in LatAm. Its payments platform has reduced payment procedures from weeks to hours through its adoption of a digital-first approach, real-time financial information, embedded financial services, and complex data models.

After its successful Series A raise, Xepelin now serves over 5x more clients in Chile and Mexico, enjoys increased revenues in Mexico 60x, and has launched Xepelin Payments, a new B2B payments product that enables all companies to organize and automate their payments, with and without financing, to suppliers.

“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.”

Xepelin is planning to use the latest proceeds to expand its hiring, scale up its B2B payments business, create new products and expand to new LatAm territories.

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