Kiwi, a fintech company dedicated to empowering underbanked Latino communities in the U.S., has announced a $100 million credit facility from Community Investment Management (CIM). This funding follows Kiwi’s $8 million Series A round earlier this year and marks a major step forward in the company’s mission to expand access to fair and responsible credit for Hispanic consumers who have been historically overlooked by traditional financial institutions.
Founded in 2020 by Mariano Sanz and Alexander Schachter, both originally from the Dominican Republic, Kiwi was built to address the unique financial challenges faced by Hispanic Americans with little to no credit history. Since its launch, the company has already served over 100,000 consumers, offering them the tools to establish credit and achieve greater financial inclusion.
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Kiwi’s model is inspired by successful approaches from emerging markets—starting with accessible credit offerings and gradually expanding into savings, spending, and other financial services that help users build trust and long-term stability. Its AI-powered platform assesses creditworthiness beyond traditional credit scores, allowing more consumers to access financial products that can help them thrive.
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“We are very excited about partnering with CIM given our aligned mandates of promoting impact and economic mobility to underbanked consumers,” said Mariano Sanz, co-founder and CEO of Kiwi. “Access to credit is about promoting possibilities, and AI is helping us deliver this reality for millions excluded from traditional financial products.”
Community Investment Management (CIM), known for funding mission-driven financial innovators, sees the partnership as a way to close systemic gaps in credit access. “Kiwi is filling an important gap in the market, providing simple and transparent access to capital that builds credit history,” said Jacob Haar, Managing Partner at CIM. “This partnership is a meaningful step toward giving minority communities better access to financial opportunities.”
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With this new influx of capital, Kiwi plans to expand into additional states, introduce new financial tools, and scale its technology to reach millions more consumers. Latino communities represent nearly 20% of the U.S. population and contribute more than $4 trillion to the economy each year, yet remain significantly underserved by mainstream banking. Kiwi’s AI-driven approach aims to close that gap, fostering a more inclusive financial future for the communities driving America’s growth.
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Source : businesswire