Brazilian financial infratech Celcoin raised $120M in a Series C round led by Summit Partners in what was the fund’s first investment in Latin America. Innova Capital also participated.
Celcoin’s Founder and CEO, Marcelo França, stated that Celcoin will pursue M&A activity in Brazil and other countries, focusing on new products for the ecosystem and aiming to increase the infratech’s market share.
“Our growth is supported by three pillars: acquisition of new clients, expanding the operation for current clients, and the addition of new products, often through M&A, because our clients automatically gain access to these products,” said Marcelo França.
Celcoin provides embedded finance tech infrastructure to companies which allows them to offer financial products to their customers. Products range from payment gateways and KYC checks to whitelabel cards and payment accounts.
Founded in 2016, Celcoin operates mainly in Brazil but also has clients in Chile and generated $47.3M in net revenue in 2023.
Read more on Brazil Journal.
