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Chilean fintech Xepelin wants LatAm businesses to get paid –

Fintech companies and other agencies have moved consumer injection in Latin America, especially during the global catastrophe, which has led consumers to become complacent about digital currencies.

Chile based Xepelin The goal is to make business-to-business payments through SaaS payment infrastructure including real-time financial information, embedded financial services and data models, all to become a enterprise brand ” digital CFO “.

The company raised $ 230 million in Series A equity and debt last year, led by Kaszek, and has since expanded into Mexico, boosting its customer list five times to 15,000, increasing Mexico’s revenue by 60 times. released its new product Xepelin Payments 90 days ago which makes it easy for users to organize and automate their supplier currencies, with and without funding.

Since the founding of 2019 Nicolás de Camino and Sebastian Kreis, Xepelin has also grown its staff by more than 400.

“This is a huge market, but no one is really focusing on pure business,” de Camino told TechCrunch. “Traders mean they can access bank accounts, but almost 95% of small and medium-sized businesses are unaccounted for. I believe there is $ 5 trillion in cash stuck that needs to be opened, We have a council to address this. “

Now the company is doubling down on both Chile and Mexico, while also looking at new expansion countries and will hire more staff and launch new products. Support for all of this comes from a new $ 111 million Series B investment – all equity at the moment – led by Avenir and Kaszek.

With this round doubling Kazsek, Avenir is the new investor joining the helmet table. Kreis told TechCrunch that Avenir, having made another investment in emerging markets, was looking for “the next B2B payment platform to win LatAm” and would help Xepelin reach the next level.

Also participating in the tour were PayPal Ventures, Wellington, DST Global, Battery Ventures, MSA Novo, Endeavor Catalyst, FJ Labs, Picus, Amarena, Gunderson, Carlos Garcia, Cathay-Seaya Latam and Gilgamesh.

“We can still grow a lot faster than Chile and Mexico, so it’s like the best time to go to other countries in LatAm,” Kreis added. “We also want to win in Mexico.”