MEXICO CITY, Sept 2 (Reuters) - Mexican financial

technology firm Kapital reached coveted "unicorn" status on

Tuesday after its valuation topped $1 billion with a fresh

funding round, following several high-profile purchases of more

traditional banking operations.

Kapital closed a funding round led by Tribe Capital and

Pelion Ventures, giving it access to up to $100 million, it said

in a statement, with its total valuation topping $1.3 billion.

The company, headquartered in Mexico but incorporated in

Delaware, also operates in Colombia.

The latest funding brings Kapital into the ranks of a

handful of Mexican companies that have reached unicorn status,

including used-car seller Kavak, crypto exchange Bitso and

fintech Stori.

"Kapital is already profitable, and our growth continues to

accelerate through the unique combination of a banking license

and proprietary software," CEO Rene Saul said.

In 2023, Kapital bought Mexican bank Autofin to sidestep the

lengthy process of independently applying for a banking license.

Last month, Kapital announced it would acquire Mexican

financial group Intercam's brokerage, asset management and

operational banking assets.

Intercam was among the firms targeted by U.S. sanctions in

June "as primary money laundering concerns," though Mexican

officials said at the time that the U.S. had not provided

evidence to back up the claim.

Kapital said it was working with U.S. and Mexican

authorities to ensure compliance in the purchase, which will

also involve a $100 million investment in Kapital's banking

operations once wrapped up.