SoftBank Leads $60M Funding Round for B2B Payments Platform Tribal

Tribal Credit, a business-to-business payment 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 round brings total funding for Tribal up to $140 million.

Tribal will use the money to continue building out its teams in Latin America, and also plans to release some crypto-related products later this year.

Japanese conglomerate SoftBank launched the $5 billion SoftBank Latin America Fund in 2019. A $3 billion Latin America Fund II followed last September.

San Francisco-based Tribal has customers in over 22 countries and will use the funding to continue building out its teams in Brazil, Mexico, Columbia, Peru and Chile.

“Tribal is using crypto to fundamentally change the rules of the game for payments and lending. Very few companies can bridge TradFi and DeFi in such an innovative, yet seamless way,” said Shu Nyatta, Managing Partner of SoftBank Latin America Fund, in a press release.

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