Kapital Grupo Financiero is accelerating its transformation from a Mexican financial technology startup into an AI-led banking group. The company has acquired United States-based artificial intelligence firm Woz Code for US$30 million and closed a new investment round worth US$130 million across equity and debt. The combined operations lift Kapital's valuation to US$2 billion and place CEO and cofounder René Saúl Farro on the cover of Forbes Mexico's October edition.
A New Phase After Unicorn Status
Kapital first reached unicorn status in September 2025 with a valuation of about US$1.3 billion. The latest funding round brings that figure to US$2 billion and reflects investor confidence in its model. Farro said Kapital has always positioned itself as a technology company with a banking license, not a traditional bank.
The announcement follows a period of rapid scaling that included the August 2025 acquisition of Intercam Banco's operations and assets. That transaction was carried out after Mexican authorities intervened to protect savers and maintain service continuity. By integrating those assets, Kapital expanded its balance sheet and accelerated its deposit and loan growth.
The Woz Code Acquisition
Woz Code is the creator of WOZCODE, a plugin for Claude Code that the company says reduces usage costs by between 25% and 55%. The startup was founded in 2024, completed Y Combinator's winter 2025 batch, and operates with an eight person team based in the United States. The acquisition is expected to add specialist AI engineering capacity to Kapital's existing automation and data analytics capabilities.
Financial Growth and Regional Scale
At the end of the second quarter of 2026, Kapital reported more than 93 billion pesos in assets, approximately US$5.2 billion. Its credit portfolio reached 30 billion pesos, equivalent to annual growth of 220%, while traditional deposits reached 62 billion pesos, up 234% year over year. This expansion coincided with the integration of Intercam Banco and rising demand for business credit.
Kapital operates mainly in Mexico, Colombia, the United States, Puerto Rico, and Spain, serving more than 300,000 clients. The group now employs around 3,700 people and allocates 30% of its budget to research and development. Farro stated that continuous technology investment is part of the company's DNA and is reflected directly in its products.
IPO Plans and SME Opportunity
Farro confirmed that Kapital is considering an initial public offering within the next three years if market conditions remain favorable. The company sees particular opportunity in serving entrepreneurs, small and medium enterprises, and nonbank financial institutions. It has placed 30 billion pesos in loans this year, supported by nearshoring activity and the Mexican government's Plan Mexico.
Kapital's technology strategy focuses on deep learning and machine learning to process cash flows and assess credit risk dynamically. Farro argues that such tools can reduce bureaucracy, speed up liquidity access, and allow banks to anticipate client needs while keeping final decisions under human supervision. The Woz Code integration is intended to deepen these capabilities across all markets.
Kapital's latest moves combine capital, acquisition-led growth, and a strong focus on artificial intelligence. The company has evolved from a startup into a regional financial group with growing assets, clients, and technical talent. Its ability to maintain that pace while preparing for a possible public listing will shape the next stage of its expansion.