Lively in 15 international locations 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 might be used to gasoline the event of recent embedded funds options and assist the agency broaden 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 cost acceptance companies within the space. These options embody terminals that allow cellphones to function as level of sale gadgets in addition to expertise 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 yr. 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 properly 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 associate Francisco Álvarez-Demalde stated.
Talking of funds in Latin America, blockchain-enabled accounts receivable and B2B funds firm PayStand has acquired Yaydoo, an accounts payable, money circulation administration, and liquidity resolution supplier based mostly in Mexico. Yaydoo is likely one of the fastest-growing startups in Mexico, with greater than 150 staff working in additional than six completely different international locations. Based in 2017 and working all through Latin America Yaydoo raised $20.4 million in Collection A funding final yr and this yr was named a “Súper Empresa 2022” and a “Súper Empresas para Mujeres 2022” by Expansión Prime Firms México.
“Collectively, PayStand and Yaydoo will redefine the boundaries of B2B fintech throughout the continent,” PayStand CEO Jeremy Almond stated. “The mixed firm might be one of many first international B2B blockchain platforms at a big scale. The ensuing firm may have processed over $5 billion in funds, added 300 extra staff, and constructed a community of over 500,000 linked companies, the biggest of any industrial B2B blockchain on this planet.”
Based in 2013, PayStand made its Finovate debut at our builders convention, FinDEVr Silicon Valley, one yr later in 2014. The corporate leverages blockchain and cloud expertise 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 yr in a row in 2021, PayStand has secured $86 million in funding, most just 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 Japanese Europe
Center East and Northern Africa
Central and Southern Asia
Latin America and the Caribbean
Asia-Pacific
Photograph by Nikita Ananjevs
