Tribal Credit, a business-to-business payments and financing platform for emerging markets, has raised $60 million in a Series B funding round led by SoftBank Latin America Fund, with participation from Coinbase Ventures. The latest round brings Tribal’s total funding to $140 million.
Tribal plans to use the new capital to expand its teams across Latin America, including Brazil, Mexico, Colombia, Peru, and Chile. The company also plans to launch crypto-related products later this year.
Japanese conglomerate SoftBank launched its $5 billion Latin America Fund in 2019, followed by a $3 billion Latin America Fund II in 2021. Other investors in Tribal’s Series B included BECO Capital, QED Investors, and Rising Tide. Secondary shares were offered to Circle Ventures, AGE Fund, Third Prime, Canas Capital, and Acuity Ventures.
Based in San Francisco, Tribal serves customers in over 22 countries, providing payment and financing solutions tailored to small and medium-sized businesses in emerging markets.
“Tribal is using crypto to fundamentally change the rules for payments and lending. Very few companies can bridge TradFi and DeFi in such an innovative yet seamless way,” said Shu Nyatta, Managing Partner at SoftBank Latin America Fund.
Last month, Tribal secured a $40 million debt round from the Stellar Development Foundation, bringing stablecoin USDC into the Tribal ecosystem. While the company confirmed plans to release crypto-related products in 2025, it has not yet provided specific details.
