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Lively in 15 nations in Latin America, funds infrastructure supplier Geopagos has secured an funding of $35 million. The fairness funding spherical was led by Riverwood Capital and featured participation from Endeavor Catalyst. The sum represents the corporate’s first institutional financing and will probably be used to gasoline the event of recent embedded funds options and assist the agency develop all through Latin America.
Geopagos gives monetary establishments, fintechs, retailers, software program firms and different organizations with end-to-end digital options to assist them launch or develop their fee acceptance companies within the space. These options embody terminals that allow cell phones to function as level of sale gadgets in addition to know-how that turns web sites into e-commerce platforms.
With purchasers together with Santander, BBVA, Banco Estado de Chile, and Finovate alum Fiserv, Geopagos processes greater than 150 million transactions and greater than $5 billion in quantity a 12 months. The Buenos Aires-based firm was based in 2013 by Sebastián Núñez Castro, Julián Lisenberg, Fernando Tauscher, Raúl Oyarzun and Damián Harburguer.
“Latin America is a market with very low card penetration and Geopagos is nicely positioned as a software program enabler and infrastructure supplier to spice up card acceptance and digital funds throughout the area,” Riverwood Capital co-founder and managing companion Francisco Álvarez-Demalde mentioned.
Talking of funds in Latin America, blockchain-enabled accounts receivable and B2B funds firm PayStand has acquired Yaydoo, an accounts payable, money movement administration, and liquidity resolution supplier based mostly in Mexico. Yaydoo is likely one of the fastest-growing startups in Mexico, with greater than 150 workers working in additional than six totally different nations. Based in 2017 and working all through Latin America Yaydoo raised $20.4 million in Collection A funding final 12 months and this 12 months was named a “Súper Empresa 2022” and a “Súper Empresas para Mujeres 2022” by Expansión Prime Corporations México.
“Collectively, PayStand and Yaydoo will redefine the boundaries of B2B fintech throughout the continent,” PayStand CEO Jeremy Almond mentioned. “The mixed firm will probably be one of many first world B2B blockchain platforms at a major scale. The ensuing firm may have processed over $5 billion in funds, added 300 extra workers, and constructed a community of over 500,000 related companies, the most important of any industrial B2B blockchain on the planet.”
Based in 2013, PayStand made its Finovate debut at our builders convention, FinDEVr Silicon Valley, one 12 months later in 2014. The corporate leverages blockchain and cloud know-how to digitize receivables, automate processing, decrease time-to-cash, take away transaction charges, and drive new income. A member of the 2021 CB Insights Fintech 250 and named to the Inc. 5000 for a second 12 months in a row in 2021, PayStand has secured $86 million in funding, most lately elevating $50 million in a Collection C funding led by NewView Capital and that includes participation from SoftBank’s SB Alternative Fund and King River Capital.
Right here is our have a look at fintech innovation all over the world.
Sub-Saharan Africa
Central and Jap Europe
Center East and Northern Africa
Central and Southern Asia
Latin America and the Caribbean
Asia-Pacific
Picture by Nikita Ananjevs
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