Kapital's ERP-Backed Revolving Line
René Saul and Fernando Sandoval, co-founders at Kapital, on the fintech opportunity in LatAm
The revolving line matters because it turns credit from a one time product into the control panel for a company’s daily cash decisions. Instead of borrowing cash and moving it elsewhere, a business owner can open the bank account, see incoming and outgoing invoices, choose which vendor bills to pay now, and convert selected bills into installments inside the same workflow. That makes Kapital closer to a live operating system for payables than a standard lender or card issuer.
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The product works because Mexican e-invoicing creates a built in data feed. Kapital can see who the business owes, who owes the business, and the exact invoice being financed, which lets it underwrite and disburse credit at the moment a payment decision is made.
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This is a different model from U.S. fintechs like Brex, Mercury, and Ramp, which usually start with cards or bank accounts and then connect into outside ERPs. Kapital puts the ERP inside the banking experience, so bill pay, collections, lending, and cash tracking happen on one screen.
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The bundling shows up in the economics. By early 2024, about 60% of revenue came from lending and 40% from software and payments, and by the end of 2024 annualized revenue reached $184M as deposits, payment volume, and use of Flex loans all scaled together.
The next step is deeper automation around the same payment rail. As Kapital adds treasury, stablecoins, payroll, and more workflow tools, the financed invoice becomes the starting point for owning more of the finance team’s daily work, which should make the bank account even harder to replace and expand monetization beyond the loan itself.