Kala, a Bogota, Columbia-based company that developed an infrastructure for financial institutions and companies that want to offer credit online, raised $4 million in a seed investment round, bringing its total raised to $6 million.
The round was led by the Mexican venture capital firm Cometa, with the participation of 99Startups and existing investors such as the Brazilian firms Canary, Acrew, and Clocktower, who had contributed $2 million in a pre-seed round.
The company plans to use the capital to expand its product, technology, customer acquisition, and customer support teams.
“We understand the impact on financial inclusion that results from digitizing credit processes, but we also know how difficult and time-consuming this change can be for a finance company,” said the Co-founder and CEO of Kala, Manuel Alemán. “This is why we created Kala, to facilitate the digitization of banks, finance companies, and companies that sell on credit.”
Kala will concentrate its operation in Colombia and Mexico. Kala claims to have processed more than 50,000 loans from its platform, which works as software as a service (SaaS).
Round: Seed Round
Funding Month: April 2023
Lead Investors: Cometa
Additional Investors: 99Startups, Canary, Acrew, and Clocktower
Company Website: https://www.kala.tech/
Software Category: Financial Software
About the Company: Founded in Bogota in 2021 by Manuel Alemán, Rodolfo Lazo, and Pablo Cattólica, Kala is a SaaS fintech that enables small and medium-sized finance companies to streamline their credit granting process. The company's platform integrates an open-source suite, a sandbox environment, and flexible options for configuration and deployments for fintech to offer fintech infrastructure and connects companies with capital providers. Since its launch in July 2022, Kala has a team of 28 and has attracted three clients, two in Colombia and one in Mexico—who use this platform to offer digital credit.