Kiwi, a fintech company dedicated to helping consumers improve their credit history, secured a $4.5M pre-series A funding round led by Advent-Morro Equity Partners, Altio Capital, and Independent Capital Group. Additionally, the startup closed a $75M credit facility provided by i80 Group.
The Puerto Rican company will use the funding to expand its financial services offering to Latinos excluded from the traditional banking system.
“We take pride in equipping underserved Latino immigrants with the tools and resources necessary to establish credit and secure access to capital,” said Mariano Sanz, Kiwi’s Co-founder, and CEO.
As of today, Kiwi provides credit access to over 30K underbanked users across the United States.
Founded in 2020 by Mariano Sanz and Alexander Schachter, Kiwi is a fintech company dedicated to helping consumers build credit history and improve financial literacy. The company is committed to addressing the financial challenges faced by millions of Latino consumers in the US, many of whom often lack credit history and are excluded from the traditional financial system. Utilizing proprietary AI and machine learning models, Kiwi provides borrowers with affordable capital, enabling them to build their credit profiles and manage everyday expenses.
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