The round is led by Viking Global in its first private investment in Latin America, and is joined by additional leading global investors
Conductor, the leading card issuing and banking-as-a-service software platform in Latin America, announced it has raised $150 million in a round led by Viking Global Investors, with additional participation from investors including Advent International’s affiliate Sunley House Capital. The new shareholders join the company’s existing institutional investors, Riverwood Capital and Visa, Inc.
“The company’s mission is to modernize and democratize the payments stack in Latin America. We have grown our business 10x in the past few years, and we are just getting started”
Conductor has built Latin America’s largest and fastest growing full stack card issuing and acquiring platform. The company powers the leading fintechs, banks, retailers, and enterprises across the region, enabling them to launch and scale innovative digital accounts and card programs. The cloud native and open API solution spans card issuer processing, banking-as-a-service, and other digital banking services. Conductor currently powers over 85 million accounts and processes more than $20 billion in payment volume across Latin America.
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“The company’s mission is to modernize and democratize the payments stack in Latin America. We have grown our business 10x in the past few years, and we are just getting started,” said Antonio Soares, CEO of Conductor. “With this injection of capital, we will accelerate our product investment to unlock the massive opportunity ahead in Brazil and across Latin America.”
This new round of funding will enable Conductor to accelerate product development and international growth, and further cement its leading position in modern payment infrastructure technology. The announcement comes on the heels of a number of milestones, including the continued momentum in the company’s flagship issuer processing business, the acceleration of its banking-as-a-service offering Dock, the acquisition of Muxi, and the launch of Conductor’s international expansion across major markets in Latin America.
Joaquim Lima, Partner at Riverwood Capital, Conductor’s principal investor since 2014, said, “The team at Conductor has built an industry leading fintech infrastructure platform. We are excited about the opportunity ahead for Conductor to provide the technology backbone to power fintechs, modernize banks, and enable large enterprises to launch embedded fintech solutions.”
