- Conductor — a leading card issuing and banking-as-a-service software platform in Latin America — announced recently that it has raised $150 million in a round of funding led by Viking Global Investors
Conductor — a leading card issuing and banking-as-a-service software platform in Latin America — announced recently that it has raised $150 million in a round of funding led by Viking Global Investors with additional participation from investors including Advent International’s affiliate Sunley House Capital. And the new shareholders join the company’s existing institutional investors Riverwood Capital and Visa.
Conductor has built the largest and fastest-growing full-stack card issuing and acquiring platform for the Latin American market. And the company powers the leading fintechs, banks, retailers, and enterprises across the region, thus 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. And Conductor currently powers over 85 million accounts and processes more than $20 billion in payment volume across Latin America.
This new funding round will enable Conductor to accelerate product development and international growth along with further cementing its leading position in modern payment infrastructure technology. And 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.
Goldman Sachs & Co. LLC acted as the exclusive financial advisor and placement agent and Simpson Thacher & Bartlett LLP and Mattos Filho Advogados acted as legal advisors to Conductor.
KEY QUOTES:
“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.”
— Antonio Soares, CEO of Conductor
“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.”
— Joaquim Lima, Partner at Riverwood Capital
