Celcoin, a Sao Paulo, Brazil-based Banking as a Service (BaaS) financial technology company, received a US$125 million investment.
The round was led by led by Summit Partners with existing investor Innova Capital also participating in the round, along with experienced financial technology executive John Coughlin, an Executive-in-Residence at Summit Partners, who will join the Board of Directors. Christopher J. Dean, a Managing Director at Summit Partners, and angel investor Michael Esrubilsky will join Coughlin on the company’s Board.
The new funding will support expansion plans as the company works to continue delivering new and innovative products to strengthen its leadership position in the BaaS and embedded finance market.
Founded in 2016 and led by CEO Marcelo França, Celcoin provides financial infrastructure services and solutions for banks, fintechs, and enterprise companies. Focused in three key verticals – payments, banking, and lending – Celcoin’s offerings are designed to enable personalized embedded finance solutions for companies across any segment and stage of development. With over 400 customers in the financial industry and more than 5,000 non-financial companies, Celcoin combines technology, product innovation, and security to support customers in building financial offerings that serve the needs of their end-consumers.
The company recorded US$63 million in annual recurring revenue in the first quarter of 2024 – a 140% increase compared to the same period last year. Celcoin processes over 200 million Pix transactions monthly. In addition to the ongoing development of in-house products, the company has completed four strategic acquisitions since 2022: Galax Pay, specializing in billing and sub-acquiring solutions; Flow Finance, which provides credit infrastructure; Finansystech, an Open Finance startup; and most recently, Reg+, a regtech solution dedicated to supporting regulatory compliance.
FinSMEs
18/06/2024