Mexico’s Kapital lands $40m financing from Accial Capital Management
Accial Capital Management, a US-based impact-focused, tech-enabled investor in small business and consumer loan portfolios, has provided $40 million in financing to Kapital, a multi-service innovative financial company in Mexico.
Kapital provides financial services to, among others, SMEs and suppliers, as well as corporate credit cards to fund its loan portfolio origination.
The deal was significant given that it showcases the continued appetite for foreign and domestic funds to structure “warehousing” facilities in favor of innovative and disruptive Mexican companies, especially in the fintech sector, according to Mexican law firm Gonzalez Calvillo, which acted as counsel to Accial.
“This is an interesting and appealing trend in the Mexican market,” the law firm said in reference to the deal.
“As for the legal-side of the deal, it is always challenging to have a cross-border (dual-jurisdictional) deal, in which all documents and business and legal arrangements must be implemented conforming different concepts from foreign law into a Mexican-law governed transaction,” the firm said.
The firm’s advice included the implementation of a collateral package, which – as is customary in “warehouse” facilities in Mexico – is bankruptcy-remote.
Gonzalez Calvillo’s team advising Accial was led by partner José Ignacio Rivero Andere, with managing associate Jacinto Ávalos Capín and associate Luis Ernesto Brieño Jiménez.
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