Kapital, a Mexico City-based AI-powered financial institution serving businesses across Latin America, has agreed to acquire Woz, a Y Combinator-backed AI startup that builds coding agents for complex business use cases, in a $30 million cash-and-stock transaction. Woz co-founders Ben Collins and Brad Eckert will become Kapital’s Head of AI and Chief Technology Officer, respectively, bringing a team of roughly 25 developers. The main objective is to combine Woz’s engineering expertise with Kapital’s proprietary data and banking infrastructure to build a next generation of banktech AI models and products for enterprise financial applications, expanding Kapital’s existing OctavIA suite, which powers live scoring, underwriting, risk, and customer intelligence. The deal follows the $125 million in new financing Kapital announced in September from Tru Arrow Partners and Fasanara Capital, funds that will also support expansion across Mexico, the U.S., and other markets. Key players include Kapital CEO and co-founder René Saúl, who said the bank of the future is built with AI engineers, and Collins and Eckert, the incoming AI and technology leaders.

Kapital Agrees to Acquire AI Startup Woz for $30M to Enhance Capabilities of AI-Native Banking Platform