Conductor, a Brazil-based payments company, has raised $150m in a private funding round to expand its footprint in Latin American.
The funding round was led by Viking Global Investors and also joined by Advent International’s affiliate Sunley House Capital.
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Conductor said it intends to use the capital fund its product development and accelerate international expansion.
The company, whose existing investors include Riverwood Capital and Visa, currently has operations in Mexico, Peru, Colombia, Argentina and Ecuador.
The latest funding round comes after the payments firm expedited its BaaS offering called Dock and acquired the electronic payments platform Muxi.
According to Reuters, this is the last fundraising before Conductor launches an initial public offering (IPO) in the US.
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By GlobalDataIt will join Brazilian payments companies StoneCo and PagSeguro Digital on the US stock exchange.
Conductor CEO Antonio Soares said: “The company’s mission is to modernise and democratise the payments stack in LATAM. 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.”
Founded in 1997, Conductor is a card-issuing and banking-as-a-service (BaaS) platform.
It claims to have built the largest full stack card issuing and acquiring platform for fintechs, banks, retailers, and enterprises across LATAM.
Conductor is a cloud-native, open API platform, offering card issuer processing, BaaS, and other digital banking services.
Currently, it powers more than 85 million accounts for 30 million active users and processes over $20b in payment volumes representing 1.5 billion transactions per year.
In June 2020, Conductor partnered with ACI Worldwide to expand its footprint into the LATAM acquirer market.
