Fintech
Brazilian FinTech Celcoin Raises $125 Million Investment Led by Summit Partners
By Gloria Mattia
Today
- BaaS
- Banking
- Banking as a service
Celcoin, a agency in financial technology market Banking as a Service (BaaS), announced a $125 million investment led by global growth equity investor Summit Partners.
The new funding will support Celcoin’s expansion plans and commitment to offering financial access Brazilian consumers as the company works to continue providing new and innovative products to strengthen its position in the BaaS and integrated finance market.
Summit has a long history of partnering with FinTech companies, including EngageSmart, Corpay and Calypso Technology. Existing investor Innova Capital will also participate in the round, along with experienced financial technology executive John Coughlin, a former senior executive at Corpay.
Founded in 2016, Celcoin provides financial infrastructure services and solutions for banks, FinTechs and corporate businesses. Focused on three key verticals: Payments, Banking and Lending, Celcoin’s offerings are designed to enable customized integrated financial solutions for businesses across any segment and stage of development. Celcoin combines technology, product innovation and security to support clients in creating financial offerings that meet the needs of their end consumers.
Brazilian financial technology is among the most advanced in the world. In recent years, the Central Bank of Brazil has introduced groundbreaking innovations, including the Pix instant payment system, launched in October 2020.
“Celcoin’s technology enables banks, FinTechs and non-financial companies to introduce their financial products and embed financial services directly into their ecosystems. We see this as the future of the financial sector and are excited to be part of this transformation,” he said The CEO of Celcoin, Marcelo França. “With this financing, we plan to accelerate our investments in technology and innovation, as well as evaluate both organic and M&A-driven growth opportunities.”
“It is truly a privilege to collaborate with the impressive team at Celcoin during this phase of exciting innovation and expansion,” said J.ohn Coughlin, an executive in residence at Summit Partners who will join Celcoin’s board of directors. “We were impressed with the scalability of their platform and the speed of new product innovation. We look forward to supporting Celcoin as the company continues to expand in Brazil and throughout Latin America.”