Innovation That Matters

Xepelin helps small businesses in Latin America streamline their finances | Photo source Pixabay

A SaaS platform helps small businesses in Latin America

Financial Services

The platform is designed to help SMEs to manage their business and easily and quickly apply for loans

Spotted: The difficulty of raising financing can be a serious stumbling block to the growth of small and medium-sized enterprises (SMEs). A Chilean fintech SaaS platform called Xepelin hopes to change this by helping SMEs to streamline their finances and payment infrastructure. The company was founded in 2019 with the mission to change the fact that ‘only 5 per cent of companies in all Latin American countries have access to recurring financial services.’

The SaaS platform is designed to help SMEs to easily organise their financial information in real time. The software includes a way for companies to apply for short-term working capital loads “with just three clicks, and receive the capital in a matter of hours,” according to the company. To accomplish this, Xepelin has developed an AI-driven underwriting engine which greatly speeds up the loan approval process.

In addition to loan approval, the free software helps companies organise information on cash flow, revenue, sales, and tax. Xepelin points out that the ability to organise and access this information creates a virtuous circle in which SMEs can, “improve their financial habits, obtain more efficient financing, pay their obligations, and collaborate effectively with clients and suppliers, generating relevant impacts in their industries.”

Xepelin co-founder Sebastian Kreis explains that the company’s goal is “to scale a platform that can solve the true pains of all SMEs in LatAm, all in one place that also connects them with their entire ecosystem, and above all, democratized in such a way that everyone can access it, regardless of whether you are a company that sells billions of dollars or just a thousand dollars, getting the same service and conditions.” With more than 4,000 clients in Chile and Mexico, and a portfolio of active loans for $120 million, there is clearly a need for this. 

At Springwise, we have seen a growing trend for innovative financial products and platforms designed to help startups and SMEs. These range from a platform designed specifically to aid climate startups to a platform for financing and facilitating the effective and safe movement of medicinal drugs through Africa.  

Written By: Lisa Magloff



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