Kapital has agreed to acquire Woz, a Y Combinator-backed artificial intelligence startup, in a $30 million cash-and-stock transaction. The deal will bring Woz’s engineering team and coding-agent technology into Kapital’s AI-native banking platform as the financial technology company expands products for business and financial operations.
Woz develops advanced coding agents for complex software use cases. Its flagship product, WOZCODE, uses patented token-reduction technology to augment frontier coding models from Anthropic and OpenAI, making them faster and cheaper to run. Woz said customers have saved more than $2.5 million since launch by using the product to scale AI-assisted development.
As part of the acquisition, Woz co-founders Ben Collins and Brad Eckert will take senior leadership roles at Kapital. Collins, Woz’s CEO, will become Head of AI, while Eckert, Woz’s CTO, will become Chief Technology Officer. The rest of Woz’s AI development team will also join Kapital, which plans to continue growing the San Francisco-based group.
Kapital intends to combine Woz’s AI engineering with its proprietary data and technology infrastructure. The company already operates OctavIA, an AI suite used for live scoring, underwriting, risk, and customer intelligence. Management said Woz will help accelerate development of additional enterprise-grade financial AI models and products.
The acquisition follows Kapital’s September announcement of $125 million in new financing from Tru Arrow Partners and Fasanara Capital, with additional participation from Cervin Ventures, Niya Partners, and Overlook Capital. Kapital operates across Mexico, Colombia, Spain, and the United States and is using the new financing and Woz acquisition to expand product development and geographic reach.
KEY QUOTES:
“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.”
Rene Saul, CEO And Co-Founder Of Kapital
“Combining Kapital’s infrastructure, data, and scale with Woz’s patented technology and AI expertise will set a new standard for intelligent financial operations.”
Ben Collins, Co-Founder Of Woz And Incoming Head Of AI At Kapital
