Brazilian card issuing and banking-as-a-service software platform Conductor has secured $150m in a financing round, led by Viking Global Investors.
Advent International’s affiliate Sunley House Capital, and other new investors participated in the funding round, joining the company’s existing institutional investors Riverwood Capital and Visa.
Proceeds from the new funding round is expected to enable the company to advance product development across the world, and further strengthen its position in advanced payment technology space.
Riverwood Capital partner Joaquim Lima said: “The team at Conductor has built an industry leading fintech infrastructure platform. We are excited about the opportunity ahead for Conductor to provide the technology backbone to power fintechs, modernize banks, and enable large enterprises to launch embedded fintech solutions.”
Conductor powers over 85 million accounts in Latin America
Conductor has created a large-scale full stack card issuing and acquiring platform for Latin America.
The cloud native and open API solution is designed for card issuer processing, banking-as-a-service, and other digital banking services, said the company.
Conductor is serving fintechs, banks, retailers, and enterprises across Latin America, helping them to launch and scale advanced digital accounts and card programmes.
The company is currently serving more than 85 million accounts and processes more than $20bn in payment volume across Latin America.
For the transaction, Goldman Sachs & Co. served as exclusive financial advisor and placement agent, while Simpson Thacher & Bartlett and Mattos Filho Advogados served as legal advisors to Conductor.
Conductor CEO Antonio Soares said: “The company’s mission is to modernize and democratize the payments stack in Latin America.
“We have grown our business 10x in the past few years, and we are just getting started. With this injection of capital, we will accelerate our product investment to unlock the massive opportunity ahead in Brazil and across Latin America.”
