Brazil: Fintech Celcoin Secures $125m to Expand Banking-as-a-Service Offering

Celcoin, a player in the Banking-as-a-Service (BaaS) financial technology market in Brazil, has announced raising $125 million in its latest funding round led by global growth equity investor Summit Partners.

The funding aims to bolster Celcoin’s expansion plans and reinforce its commitment to providing financial access for Brazilian consumers through innovative products in the BaaS and embedded finance sectors, according to the announcement.

Summit Partners, known for its history of investing in fintech companies such as EngageSmart, Corpay, and Calypso Technology, leads this funding round. Joining Summit Partners are existing investor Innova Capital and seasoned financial technology executive John Coughlin, a former senior executive at Corpay.

Founded in 2016, Celcoin specializes in financial infrastructure services, catering to banks, fintechs, and enterprise companies. The company’s offerings are concentrated in three primary verticals: payments, banking, and lending.

These services enable personalized embedded finance solutions, allowing companies to integrate financial products directly into their ecosystems. Celcoin combines cutting-edge technology, product innovation, and robust security measures to support its customers in developing financial offerings that meet the needs of their end consumers.

Brazil’s financial technology sector is among the most advanced globally, with significant innovations driven by the Central Bank of Brazil, such as the instant payment system Pix, launched in October 2020. This environment positions Celcoin for substantial growth as it leverages new funding to enhance its technological capabilities and market reach.

“Celcoin’s technology empowers banks, FinTechs, and non-financial companies to introduce and embed financial products directly into their ecosystems. We see this as the future of the financial sector, and we are excited to be part of this transformation,” said Celcoin CEO Marcelo França. He added:

With this funding, we plan to accelerate our investments in technology and innovation, as well as explore both organic and M&A-driven growth opportunities.

John Coughlin, an Executive-in-Residence at Summit Partners who will join Celcoin’s Board of Directors, expressed enthusiasm about the partnership. “It is truly a privilege to partner with the impressive team at Celcoin during this phase of exciting innovation and expansion,” Coughlin stated. He stressed:

“We have been impressed by the scalability of their platform and speed of new product innovation. We look forward to supporting Celcoin as the company continues to expand in Brazil and throughout Latin America.

Celcoin’s strategic direction, backed by this significant investment, aims to fortify its leadership in the BaaS market, fostering financial inclusion and technological advancement in Brazil and beyond.



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