Cobre, a Colombia-based treasury platform powering top Latin American CFO offices since 2020, announced that it secured $35 million in Series B funding led by Oak HC/FT. And existing investors Kaszek, QED and Canary also participated in the round.
Cobre enables companies to centralize all their money movement and banking partners, accelerating domestic and cross-border payments while accessing all their bank accounts in real-time for unified financial operations management. This funding positions Cobre to accelerate expansion across its key markets and become a household name for regional finance teams.
In Latin America, cash is becoming a less preferred method of payment, so companies are facing the challenge of managing their finances across a fast-growing variety of digital payment options.
Cobre’s approach to centralization, delivered through in-house payment rails and direct banking integration, has created an opportunity where companies experience increasing productivity as they bring more of their payments onto the platform.
Since raising its last funding round in October 2023, Cobre’s business has grown 6 times, achieving profitability with revenue in the tens of millions. This growth has been driven by the synergies between its three products (Cobre Connect, Real-Time Domestic Payments and Real-Time Cross Border Payments) and its expansion to serve global companies doing business in Colombia and Mexico.
KEY QUOTES:
“B2B payments are on the cusp of major growth in Latin America, creating a real need for region-focused solutions that make it easier for enterprises to control the movement of their money. With its novel infrastructure technology, Cobre has proven to be essential to its finance, accounting, treasury and operations customers in the region. We look forward to our partnership with the incredible Cobre team as the company continues its growth.”
- Allen Miller, Principal at Oak HC/FT
“Cobre was founded with the belief that the future of finance lies in embracing technology and simplicity. We are committed to helping businesses navigate the complexities of modern money movement with solutions that speak their language and keep them close to the banking partners they trust. With this investment, and the continued support of our partners, we’re ready to lead the charge in giving power to financial operations.”
- Jose V. Gedeon, CEO at Cobre
