Overview

• The round was led by Tribe Capital and co-led by Pelion Ventures, with participation from Y Combinator, Marbruck Ventures and True Arrow.
• Kapital reports it became profitable in under two years, crediting a combination of a banking license and proprietary software.
• Executives describe a tech-first bank built from scratch that develops products natively and rebuilds acquired institutions on its own platform.
• The company cites higher margins, stronger customer retention and lower loss rates compared with fintechs that lack banking licenses and in-house infrastructure.
• Kapital reports a $3 billion balance sheet and roughly 300,000 customers across the United States, Mexico and Colombia.