Fintech Kiwi raises $7.8M to expand its AI-powered credit platform for Latinos underserved by the U.S. banking system

San Juan, Puerto Rico. 4 June 2025. — Kiwi, a fintech developing AI-powered financial tools for Latinos underserved by the U.S. banking system, today announced a Series A funding round worth $7.8 million dollars. The round was co-led by LIP Ventures and Advent-Morro Equity Partners, with participation from Morro Ventures, Independent Capital, Neer Venture Partners, Invariantes Fund and others. This brings Kiwi’s total funding to more than $15 million.

Founded in 2020 by Mariano Sanz and Alexander Schachter, both originally from the Dominican Republic, Kiwi was launched with a clear mission: to expand access to credit for underserved Latino communities across the United States. Since launching, the platform has served more than 100,000 users, many of whom are building a credit history and accessing formal financial services for the first time.

Kiwi’s revenue grew by more than 300% in 2024, while the company maintained profitability as demand increased across major Hispanic markets in the United States. The Series A funding will further accelerate its nationwide expansion, deepen its artificial intelligence capabilities, and support the development of new products tailored to everyday financial needs.

Kiwi was designed to meet the unique needs of Latino immigrants and U.S.-born Latinos who are underserved by the formal financial system. Its product strategy reflects how these communities manage money in real life: from accessing credit to saving, spending, and staying financially connected.

Kiwi’s approach follows a proven path in emerging markets: solve the credit problem, build trust, and expand into services that make a lasting impact.

The company’s proprietary AI models power the entire credit lifecycle, from underwriting and fraud prevention to servicing and regulatory compliance. This enables a level of automation and personalization that is uncommon in the industry.

These tools allow Kiwi to deliver a high-quality customer experience with lower risk and greater efficiency than traditional lenders.

“Access to credit is often the biggest obstacle for our customers,” says co-founder and CEO Mariano Sanz. “When you solve that first, you earn a long-term relationship. Our customers don’t want another app. They want someone who sees them, understands them, and helps them thrive in a market where they have historically been overlooked. That’s what we’re building.”

Latinos make up nearly 20% of the U.S. population and contribute more than $4 trillion dollars to the economy each year, yet they continue to be overlooked by the mainstream financial sector. Kiwi is expanding its platform specifically for this community, backed by real traction, an engaged user base, and technology designed to build trust.

Kiwi is a graduate of Parallel18, one of Latin America’s leading international startup accelerators, was part of Orlando Bravo’s Bravo Family Foundation, and was a finalist for the EY Entrepreneur of the Year award in 2024. Its previous funding round included participation from Advent-Morro Equity Partners, Independent Capital, and Altio Capital, and it received support from i80 Group to secure a $75 million dollar credit line.