Geopagos, an Argentine startup that offers an omnichannel payment acceptance infrastructure, has received $35 million in an investment round led by Riverwood Capital, a global investor in high-growth technology companies, and with participation of Endeavor Catalyst. This funding represents the company’s first institutional financing and will facilitate the acceleration of its expansion plan through Latin America and in its technology infrastructure.
As a fintech infrastructure provider, Geopagos helps large financial institutions, fintechs, retailers and software companies acquire and facilitate card payments to their own thousands of clients. It charges a software-as-a-service fee based on usage, which the company says “allows for full alignment.”
With presence in 15 Latin American countries, Geopagos’ end-to-end digital solutions processes more than 150 million transactions and over $5 billion in processed volume annually. Its main clients include companies such as Santander, BBVA, Itaú, Fiserv, Bac Credomatic, Niubiz, Banco Estado de Chile, among others.
“Our vision since our foundation in 2013 has been to make payments acceptance easier and more accessible, helping our clients launch successful and innovative payment products via a robust and comprehensive solution that can deliver a superior consumer experience, improve engagement and generate customer loyalty. Over the years we have built an established and profitable business at scale, and this is an opportune time to accelerate our investments, expanding throughout Latin America and consolidating our technology leadership by investing more in R&D. We are excited to continue this journey with Riverwood who has a 15-year track-record supporting top growth technology companies in their respective sectors globally, a leading regional presence and reputation in Latin America, and is extremely selective with their investment destinations making them the perfect partner for the next phase of our journey”.
Sebastián Núñez Castro, CEO and Co-Founder of Geopagos.
The funding will be allocated in new product development to expand Geopagos’ omnichannel proposition, as well as enabling new payment acceptance methods and opening up its API platform for businesses to accelerate time-to-market.
The company was founded in 2013 by Sebastián Núñez Castro, Julián Lisenberg, Fernando Tauscher, Raúl Oyarzun and Damián Harburguer. As part of this investment, Riverwood’s Alex Porto joins Geopagos’ Board of Directors.