Kiwi, a Miami-based financial technology company focused on serving underbanked Latinos in the United States, announced it has received a $100 million credit facility from Community Investment Management. The new capital comes after the company closed an $8 million Series A earlier in the year and will support Kiwi’s efforts to broaden access to responsible credit solutions for Hispanic consumers who often lack established credit histories.
Founded in 2020 by Mariano Sanz and Alexander Schachter, both originally from the Dominican Republic, Kiwi was developed to address structural financial barriers faced by Latino consumers. The company’s platform has already provided services to more than 100,000 users. Kiwi’s approach is modeled after financial systems in emerging markets, beginning with extending credit access and then expanding into additional tools such as savings and spending solutions to help customers build long-term financial stability and trust.
The credit facility highlights both the scale of Kiwi’s market opportunity and Community Investment Management’s focus on supporting innovative financial services that expand economic mobility. The funds will be used to introduce new products, enter additional U.S. states, and expand our reach to a significantly broader customer base.
Latino communities represent nearly one-fifth of the U.S. population and contribute trillions of dollars to the national economy, yet remain underserved by traditional financial institutions. Kiwi aims to reduce this gap through its AI-powered lending platform and long-term financial inclusion strategy.
KEY QUOTES:
“We are very excited about partnering with CIM given our aligned mandates of promoting impact and economic mobility to underbanked consumers. Access to credit is about promoting possibilities, and AI is helping us deliver this reality for millions excluded from traditional financial products.”
Mariano Sanz, Co-Founder and CEO of Kiwi
“Kiwi is filling an important gap in the market, providing simple and transparent access to capital that builds credit history. This partnership is a meaningful step toward giving minority communities better access to financial opportunities.”
Jacob Haar, Managing Partner of Community Investment Management (CIM)
