Colombian fintech Simetrik raises $24M for payments solution

The Colombian fintech Simetrik announced a $24M Series A funding round led by FinTech Collective. Other investors in the round included Tiger Global, Moore Capital, Monashees, and others.

Simetrik is a payments platform that aims to deliver greater control and transparency in financial transactions for companies. The startup provides automated reconciliation with no-code software for payments processing.

Since its launch in 2019, the fintech Simetrik has seen a rapid adoption of its services. Simetrik now serves several major payments companies in Latin America such as Mercado Pago, NuBank, Clip, and UalĆ”.

ā€œAs the payment methods landscape becomes increasingly saturated and complex – with the proliferation of BNPL, issuers, wallets, loyalty programs and crypto-wallets – payment orchestrators like Simetrik will be key for money movement and data ledgers,ā€ said Santiago Gomez, co-founder and COO.

The Colombian fintech Simetrik is changing the way Latin Americaā€™s top apps, banks, and retailers reconcile bank transfers and balance accounts. The startup is set to grow exponentially.

The new Series A funding will enable the fintech to continue establishing its presence across Latin America and make new hires to the team.

Read more on Latam Fintech Hub.

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