Mexican fintech company Klar has successfully acquired the assets of Tribal, a leading B2B payments and financing platform, to enhance its offerings for small and medium-sized businesses (SMBs) in the country. The financial details of the acquisition remain undisclosed.
The acquisition includes Tribal’s payment and financing solutions, advanced business intelligence tools, and risk models. Klar intends to integrate these assets with its existing infrastructure to provide comprehensive solutions tailored to businesses and employees.
In addition to the acquisition, Tribal’s CEO Amr Shady and several team members are joining Klar as part of the deal. This move follows Tribal’s previous growth, having raised $60 million in a Series B funding round led by SoftBank Latin America Fund in 2022 and acquiring the Mexican bill payment platform Paykii.
With this strategic acquisition, Klar plans to introduce direct payroll payments and utilize business data to offer personalized solutions that cater to the specific needs of the market. Klar, which launched in 2019, specializes in consumer credit services and currently offers products like credit cards, deposit accounts, investment, and payment services.
Looking ahead, Klar is focused on scaling its operations. CEO Stefan Moeller recently stated that the company is targeting an annual run rate of $500 million in anticipation of a potential IPO by 2026.
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