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Kapital Looks to Enhance Finance Platform With $30 Million Woz Deal

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Kapital Looks to Enhance Finance Platform With $30 Million Woz Deal

Mexico-based B2B financial platform Kapital is set to acquire artificial intelligence startup Woz.

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The $30 million deal is designed to strengthen Kapital’s financial ecosystem with the addition of Woz’s advanced coding agents for “complex business use cases,” the company said in a Monday (Oct. 19) news release.

“Kapital was founded with technology at the core of everything we do, and a belief that you cannot push the boundaries of banking and financial services without being at the frontier of AI,” said René Saúl, the company’s co-founder and CEO.

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“Acquiring Woz will bring Kapital’s already sophisticated AI platform to the next level, propelling us further as a leader in AI development for the global banking system and enterprise financial operations.”

As part of the acquisition, Woz co-founders CEO Ben Collins and CTO Brad Eckert will become Kapital’s new head of AI and chief technology officer, respectively. The Woz AI developer team will also join Kapital, with the company planning to extend the San Francisco-based team throughout the next year.

Kapital says the deal allows it to develop new AI models and products designed specifically for enterprise-grade financial applications, while also expanding on its existing AI suite, OctavIA, which helps operate live scoring systems, underwriting , risk and customer intelligence.


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