YellowPepper is a pioneer in Latin America’s mobile payments market. Founded in 2004 in Mexico, YellowPepper now offers its digital finance platform to institutions and businesses in Mexico, Colombia, Ecuador, and Peru, all from its headquarters in Miami. YellowPepper recently announced the close of a US$12.5M Series D round led by Visa, with backing from other investors.
The investment will help expand its digital platform, which already processes US$480M for over 60 clients in six countries. Said Serge Elkiner, Co-Founder and Chief Executive Officer of YellowPepper in the original interview for VentureBeat:
“We have been the go-to service for all major financial institutions and retailers for years and now are expanding our secure and efficient technology to build out a robust ecosystem within Latin America to make interacting with, managing and accepting cashless payments as easy as possible.”
YellowPepper has been one of the forces pushing Latin America to rapidly adopt mobile technology, with an estimated 60% of mobile users to adopt smartphones by 2020. Visa’s strategic investment is meant to be a partnership that will help the two companies expand their services within the region.
Read more in the original article for VentureBeat.