The fintech Xepellin received a financing of 140 million dollars from Goldman Sachs with which it seeks to promote Mexican SMEs and take advantage of the nearshoring trend.
“The money is to finance SMEs. Every time we help SMEs, we not only help them with working capital, we help them create jobs,” Sebastián Kreis, co-founder and co-CEO of Xepellin, said in an interview.
Nearshoring or the relocation of production chains has become more relevant since the pandemic due to the geographical location of Mexico as it is a neighbor of the United States.
For the manager, this financing from a global bank will allow companies in Chile, but especially Mexico, to have sustained growth in the coming months.
Kreis believes that Mexico is a great market that they want to bet on in the coming years due to the relationship that the country has with the United States. “Mexico is the market in which we want to be,” he assured.
What is Xepelin?
It is a company specialized in Digital Financial Services for four types of small and medium-sized companies in Latin America.
The company operates in Chile and Mexico and has more than 15,000 clients to whom it provides joint financing for more than 1,200 million dollars.
Xepelin developed its own technology to analyze clients through data analytics, allowing them to better understand their clients and offer amounts that are appropriate for the size and performance of the SMEs they finance.
