Kapital Flex: BNPL for SMBs
Fernando Sandoval, co-founder of Kapital, on stablecoins for cross-border payments
Kapital Flex turns vendor payment into a lending wedge, which means the company is not just helping an SMB move money, it is stepping directly into the moment that determines whether the business can restock and keep operating. In practice, Kapital pays the supplier immediately, the SMB receives inventory right away, then repays Kapital over months from future sales. That makes Flex closer to inventory financing embedded inside accounts payable than to a consumer checkout loan.
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The product works because many LatAm SMBs sell to large buyers that can stretch payment terms to 120 or 150 days, while suppliers still want cash up front. Flex bridges that timing gap, and Kapital earns interest and commission fees while giving the SMB room to keep buying stock.
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This is a stronger product than consumer BNPL because it can improve unit economics, not just timing. Paying suppliers immediately can unlock early payment discounts and larger order discounts, which can offset the financing cost if the business knows it will sell through inventory within six to nine months.
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It also shows why Kapital looks different from Brex or Ramp. In the U.S., B2B Flex features are often attachment products around card and spend software. At Kapital, Flex is the star product, and lending is 60% of revenue while SaaS and tech revenue are 40%. Flex helped drive payment volume to $8.4B in 2024, up from $2.1B in 2023.
The next step is that this financing layer becomes even more tightly bundled with cross border payments and the operating dashboard. As Kapital sees more supplier invoices, receivables, and inventory cycles, it can price credit faster, push more international vendor payments over stablecoin rails, and become the default system an SMB uses to decide when to buy, borrow, and pay.