Kiwi, a financial technology company focused on improving credit access for underserved Latino communities, has successfully raised $7.8 million in Series A funding. This funding will fuel the expansion of Kiwi’s AI-powered platform, which aims to provide credit to underbanked individuals, primarily targeting those with limited or no credit history.
Founded in 2020 by Mariano Sanz and Alexander Schachter, Kiwi utilises artificial intelligence and machine learning to offer affordable credit solutions. The platform enables consumers to build their credit profiles and access essential financial services, which were previously out of reach for many. This is particularly impactful for Latino communities, where access to traditional banking services and credit has often been limited.
The $7.8 million raised in this funding round highlights the growing investor confidence in Kiwi’s ability to address a significant gap in the financial services market. With these resources, the company plans to broaden its reach across the U.S. and expand into Latin American markets. Kiwi aims to establish itself as a leader in financial inclusion, providing tools that empower individuals to improve their financial standing and gain access to a wider range of financial services.
This strategic move represents a key moment in the fintech sector, where companies like Kiwi are harnessing technology to address systemic challenges in credit accessibility. Kiwi’s mission to use AI to serve Latino and underbanked populations could set a precedent for future developments in financial technology, making credit more accessible to all.
As the fintech industry continues to evolve, Kiwi’s approach signals a significant shift towards inclusivity, ensuring that underserved communities are not left behind in the digital age of finance.
