LatAm Fintech Kiwi Raises $80 Million to Provide Underbanked Consumers with Credit Access in the U.S.

Kiwi, a fintech dedicated to helping consumers build credit history and improve financial literacy, today announced that it has closed a $75 million credit facility and $4.5 million pre-series A funding round. The debt financing was provided by i80 Group an investment firm that specializes in providing credit solutions to growth companies, while Advent-Morro Equity Partners, Altio Capital and Independent Capital led the equity round.

Founded in 2020 by first-generation immigrants Mariano Sanz and Alexander Schachter, Kiwi is committed to addressing the financial challenges faced by millions of Latino consumers in the US. These individuals often lack credit history and are excluded from the traditional financial system. Utilizing proprietary AI and machine learning models, Kiwi offers thin-file borrowers with affordable capital, enabling them to build their credit profiles and manage everyday expenses.

With a strong customer base of over 30,000, Kiwi has already demonstrated its…