Matera, a Philadelphia, PA-based provider of sotware enabling real-time payments in Brazil, received a $100M investment from Warburg Pincus.
The company intends to use the funds to accelerate its expansion into the North American market and further expand its product development.
Founded in Brazil and led by CEO Carlos Netto, Matera is a provider of core banking, instant payment, and QR code payment solutions for financial institutions, backed by over 30 years of experience in providing best-in-class software solutions. With offices in the United States and Brazil, its core offering is a suite of technology solutions used by more than 250 banks, credit unions and financial institutions globally, including two of the top three banks in the world and over one-third of all banks in Brazil.
Its flagship offering for North America is called Digital Twin, a ledger built to work on top of bank’s existing core platforms to enable them to solve two problems: core banking modernization and creating real-time digital user experiences despite an inflexible legacy infrastructure. They’re also offering their QR Code payments solution that enables billers and merchants to present QR Codes to be paid by mobile phone. It also empowers consumers to generate QR Codes from a mobile app to make payments.
This investment comes at a moment of growth for Matera, the company has grown 4x since 2020, achieving $77M in revenue for 2023, while maintaining a strong profitability profile.
FinSMEs
18/07/2024