Tribal, a fintech platform serving SMBs in emerging markets, raised $60 million in Series B funding led by SoftBank Latin America Fund. The company plans to expand across Latin America, building on its cross-border payment system with Bitso and the Stellar Development Foundation.
San Francisco-based Tribal closed a $60 million Series B round led by SoftBank Latin America Fund to expand its payment and financing platform across Latin America. Tribal recently launched a cross-border payment system with Bitso and the Stellar Development Foundation that converts Mexican pesos to USDC. The company operates in 22+ countries and plans to hire 300 more employees, focusing on Brazil, Colombia, Chile, and Peru. Coinbase Ventures and existing investors ECO Capital, QED Investors, and Rising Tide participated. Last month, Tribal also announced a $40 million debt round from Partners for Growth and the Stellar Development Foundation that included both fiat and stablecoins.