Chile-based Xepelin, a provider of B2B payments and financial services for SMBs in Latin America, has raised US$111 million in Series B funding. The round – led by Avenir with participation from Kaszek, PayPal Ventures, Wellington, DST Global Partners, Battery Ventures, MSA Novo, Endeavor Catalyst, FJ Labs, Picus, Amarena, Gunderson, Carlos García Otatti, Cathay-Seaya Latam, and Gilgamesh, among others – marks the largest Series B financing round in Chile’s history to date.
Xepelin currently operates in Mexico and Chile with more than 450 employees spread throughout Latin America. The Series B funding will fuel Xepelin’s continued expansion by allowing it to enter new markets in Mexico and add personnel to its operations team.
Latham & Watkins LLP represented lead investor Avenir with a deal team led by Bay Area partner Ben Potter, with associates Christian Hollweg, Michelle Chern, Carlos Ardila, and international visiting associate Angelica de la Carrera.
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