Conductor, a Brazil-based card issuing and banking-as-a-service software platform, announced on Monday it secured $150 million through its latest investment, which is led by Viking Global Investors, with additional participation from investors, including Advent International’s affiliate, Sunley House Capital.
Conductor describes itself as a technology company that has been leading the digital revolution in the payment methods and banking-as-a-service sector in Brazil, enabling companies from different sectors to offer payment method solutions to their customers.
“Through its API-based proprietary, multi-currency global platform, the company has approximately 200 corporate customers that manage more than 80 million cards and payment accounts, with more than R$ 100 billion processed every year. With the arrival of Muxi, Conductor will now also be responsible for capturing payment transactions from more than 2.5 million terminals throughout Latin America.”
Conductor further revealed that it powers more than 85 million accounts and processes more than $20 billion in payment volume across Latin America. Speaking about the investment round, Antonio Soares, CEO of Conductor, stated:
“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. With this injection of capital, we will accelerate our product investment to unlock the massive opportunity ahead in Brazil and across Latin America.”
Conductor went on to add that the investment round’s funding will enable it to accelerate product development and international growth, and further cement its leading position in modern payment infrastructure technology.