Simetrik raises $55M in Series B

Simetrik blue logo

Colombian payment infrastructure startup Simetrik raised a $55M Series B led by Goldman Sachs Asset Management. FinTech Collective, Moore Strategic Ventures, Cometa, and Mercado Libre Fund also participated in the round. The funding comes 21 months after Simetrik’s $24M Series A in April 2022, totaling $85M raised to date.

Simetrik will use the capital to further develop its finance automation technology, enhance its artificial intelligence capabilities, and expand its presence in Asia.

Simetrik’s financial automation tool leverages no-code development and generative AI to simplify record centralization, reconciliation, controlling, and accounting.

“There is an explosion of fintechs and fintech products and services, not only with startups, but also banks and institutions are getting into these products. They have more reports and larger volumes of records, yet are still using manual processes. They need a new approach, and that is where our building blocks have a strong product market piece,” said Alejandro Casas, co-founder and CEO of Simetrik.

Founded in 2019, Simetrik reports serving customers in 35 countries, with a client base including companies like Rappi, Mercado Libre, Nubank, and Oxxo.
Read more at TechCrunch

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

You May Also Like