Cobre, a Bogotá, Colombia-based provider of a treasury platform for Latin American CFO offices, raised $35m in Series B funding.
The round was led by Oak HC/FT with participation from existing investors Kaszek, QED and Canary.
The company intends to use the funds to accelerate expansion across its key markets across Colombia, Mexico and beyond.
Led by Jose V. Gedeon, CEO, Cobre allows 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 management of their financial operations.
Since raising its last round in October 2023, the company’s business has grown 6x, achieving profitability with revenue in the tens of millions. The 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.
FinSMEs
05/09/2024