Kapital Acquires AI Startup Woz for $30M to Enhance Its AI-Native Banking Platform
Kapital, an AI-powered financial institution based in Mexico City and one of the largest B2B banks in Latin America, has agreed to acquire San Francisco-based AI startup Woz for $30 million. The acquisition includes a mix of cash and stock and aims to integrate Woz's advanced coding agents with Kapital’s existing AI platform, OctavIA, which supports underwriting, risk assessment, customer intelligence, and live scoring systems. Woz co-founders Ben Collins (CEO) and Brad Eckert (CTO) will join Kapital as Head of AI and CTO respectively. The acquisition is expected to strengthen Kapital’s position in the global banking system by combining Woz's patented technology with Kapital's extensive financial data sets, infrastructure, and scale. Kapital recently secured $125 million in new financing from Tru Arrow Partners and Fasanara Capital among others. This funding along with the acquisition will support product innovation and market expansion across Mexico, the U.S., and other key regions.
Topics: acquisitions AI financial technology