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Xepelin, a Chile-born startup that offers financial services to small and medium-sized enterprises (SMEs) in Latin America, already has 15,000 customers and recently raised $ 111 million in the B series led by Avenir, Kasek and PayPal Ventures.

Nearly 60% of new investment will go to Mexico, one of the countries where Xepelin considers these services for SMEs scarce. Sebastian Kreis, co-founder and CEO of the company, spoke with Contract.

What opportunity does Xepelin find in Latin America?

According to estimates made by Xepelin, there is $ 10 billion trapped in receivables and payables. We also see a huge opportunity for B2B payments in LatAm.

How has the growth been in the last year?

The company has grown to serve more than five times more customers in Chile and Mexico. He also managed to increase revenues in Mexico 60 times.

How do companies that use Xepelin benefit?

At Xepelin, we exist to address emerging markets and understand that the region’s economic growth is directly linked to the economic strength of its smaller companies. That is why it is essential for us to help them cope with their daily financial tasks so that they can concentrate on what they do best: run their business.

What does it mean to be supported by Kaszek, Avenir Funds and PayPal Ventures?

This means a lot because they are the best fintech investors and payment specialists in the region. Their decision to invest in us is a sign of the latent need in the ecosystem of SMEs in Mexico and the huge market opportunities. He also reaffirms the work that everyone in the company is doing and encourages us to move forward, believing that we are doing everything we can to help solve the financial pain of SMEs in the country.

Do you have any expansion plans?

Yes, Brazil and Colombia are two solid countries that we see and that we have thought about a lot because of the size of the market and its importance in the region. However, we are fully focused on strengthening and consolidating our operations in Mexico and expanding our payment service in the country.

Sebastian Kreis, co-founder and CEO. (Photo: Xepelin)

What’s next for 2022 for the company?

We are looking for the best talent in the region for various strategic areas of the company – passionate people who join Xepelin’s mission and help us empower SMEs and alleviate their pain. We also want to consolidate in Mexico, where we have already taken the lead; we even hope that Mexico will be bigger than Chile, because the pain we see here is much deeper. We are improving our payment instrument, which allows SME owners to make payments and have access to finance from one place. Once we have strengthened it, we want to attack a third party.

In recent years, we have seen a boom in B2B fintech technology. How will the industry develop over the next five years?

In the B2B world, there will be fintech companies that will enter specific industries or business verticals to exist and benefit each other.


Sebastián Kreis (Xepelin): “We Saw A Great Opportunity For B2B Payments Throughout LatAm”

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