Chile’s Xepelin completes US$111 million financing round
16 May 2022
A slew of international and Latin American law firms has advised on Xepelin's US$111 million funding round, marking the Chilean fintech start-up’s third capital increase in less than a year.
Gunderson Dettmer Stough Villeneuve Franklin & Hachigian LLP in Silicon Valley and San Francisco advised Xepelin.
Lawyers from five different Latham & Watkins LLP offices and Barros & Errázuriz Abogados in Santiago advised US equity group Avenir, while Chile’s Carey represented local venture capital fund Manutara.
Chile Ventures relied on Aninat Abogados in Santiago, while Kaszek enlisted Ritch Mueller y Nicolau, SC in Mexico City.
European venture capital group Wellington Partners relied on Villarino and Ilharreborde in Santiago.
The deal closed on 2 May.
The Chilean start-up will use the proceeds from the funding round to fuel its expansion in other jurisdictions, particularly Mexico.
Founded in 2019, Xepelin supports companies by providing real-time financial information and integrated financial services with different data models, which intend to help companies reduce time spent on complicated financial procedures.
In January, Xepelin raised US$80 million in a financing round led by US investor Community Investment Management. That came only a few months after it received US$230 million from Chile Ventures Fondo de Inversión and Manutara Ventures. That deal marked the highest-ever Series A investment round obtained by a Chilean start-up.
Counsel to Xepelin
Gunderson Dettmer Stough Villeneuve Franklin & Hachigian LLP
Partners Daniel Green and Lily Kim, and associates Eduardo Espinosa de los Monteros Pereda, Jamilah Mena and Oh Sung Kwon in Silicon Valley, and partner Bradley Krack in San Francisco
Counsel to Avenir
Latham & Watkins LLP
Partner Ben Potter in Menlo Park; associate Christian Hollweg in San Diego; associate Michelle Chern in San Francisco; associate Carlos Ardila in Washington, DC; and international associate Angelica de la Carrera in New York
Barros & Errázuriz Abogados
Partners Javier Díaz, Vicente Cordero and Lucas Marinovic in Santiago
Counsel to Manutara Ventures
Partner Francisco Guzmán and associates Andrés Latorre and Enzo Devoto in Santiago
Counsel to Chile Ventures
Partner María Eugenia Sabbagh and associate Miguel Dumay in Santiago
Counsel to Kaszek
Ritch Mueller y Nicolau, SC
Partner Eduardo Triulzi Garciadiego and associate Marcelle Cohen Shehoah in Mexico City
Counsel to Wellington Partners
Villarino and Ilharreborde
Partner Juan Andrés Ilharreborde and associates, Felipe Grez, Trinidad Rojas, Macarena Araya and José Pedro Ariztía in Santiago