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 Ualá.
“As 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,” said Santiago Gomez, co-founder and COO.
The Colombian fintech Simetrik is changing the way Latin America’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.