Tribal, a B2B payment and financing platform for emerging markets, raised a new debt round of $40 million.
The debt round is financed by Partners for Growth (PFG) and Stellar Development Foundation (SDF) to help Tribal expand its financing and payment services for small and medium-sized businesses (SMBs) to new countries in Latin America.
“This is one of the first hybrid debt rounds combining both fiat and stablecoins. It’s a sign of crypto crossing over into mainstream use and adoption,” said Amr Shady, CEO of Tribal.
The debt round closes at a moment of major development and momentum for Tribal, which has experienced more than 50x growth in LatAm since early 2021, serving customers in Mexico, Chile, Peru, Colombia, and Brazil.