Business

Brazilian payments and software company, Conductor raises $150 million and targets IPO in the U.S.

dolar bill
Ler em português
  • With Riverwood Capital and the payment processor Visa among its shareholders, Conductor provides payment services and software to financial institutions, retailers and fintechs, for example;
  • It has 30 million active users and processes 1.5 billion transactions per year, according to the company’s website.

The Brazilian payments and software company Conductor raised $150 million in a private round to expand its business in Latin America, before a possible listing on the United States stock market, Chief Executive Antonio Soares told Reuters on Saturday. The fundraising reinforces the expectation that financial technology companies can grow as more individuals in the region have access to the banking system.

READ ALSO: Visa mira PIX para ampliar negócios fora de cartões no Brasil

The round was led by Viking Global Investors and also includes Sunley House Capital, an affiliate of private equity manager Advent International. With Riverwood Capital and the payment processor Visa among its shareholders, Conductor provides payment services and software to financial institutions, retailers, and fintechs, for example. It has 30 million active users and processes 1.5 billion transactions per year, according to the company’s website.

READ ALSO: Contactless payment triples in Brazil with COVID-19 pandemic, says Visa

“The electronic payments industry in Latin America is about five to 10 years behind Brazil, and regulation in the region is seeking more competition,” said Soares.

The round will be used to expand Conductor’s reach in Latin America, both through its own growth and through company acquisitions. Conductor started its international expansion this year and now has business in Mexico, Peru, Colombia, Argentina and Ecuador.

Translated by LABS

Get the best insights about Latin America market in your inbox