Tribal Credit raises $60 million in SoftBank-led Series B round

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San Francisco-based Tribal has raised $60 million in an oversubscribed Series B funding round led by the SoftBank Latin America Fund, and plans to use the funds to expand in the Latin America region. 
Tribal’s core product is a payment and financing platform that helps small and mid-size businesses (SMBs) in emerging markets gain access to financial services. For example, it recently unveiled a cross-border payment system with Bitso and the Stellar Development Foundation, which focuses on converting Mexican pesos to the dollar-pegged stablecoin USDC.
The startup has customers in more than 22 countries, but cites Latin America as a key market. In fact, Tribal previously raised $34.3 million last April to focus on its growth in Mexico.
With the most recent raise, the company is looking to replicate its growth in Mexico and expand its presence in other countries in the Latin America region where it has existing customers, Tribal CEO Amr Shady told The Block. 
“Moving forward with th

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