CloudWalk, a Brazil-based payment technology network, announced on Tuesday it raised $190 million through its Series B funding round, which was led by Coatue with participation from DST Global, FIS, The Hive Brazil, and Valor Capital. The latest investment round brings CloudWalk’s total funding raised to $206 million.
Founded in 2013, CloudWalk describes itself as a “cutting-edge” global payment network that was built from the ground up on modern technology stalks and blockchain. The company is also focused on disrupting the payments ecosystem for small-and-medium enterprise merchants and their customers.
“We are democratizing the payments industry in Brazil, by empowering entrepreneurs through technological, inclusive and life-changing solutions.”
CloudWalk has notably processed more than $1 billion and its services 70,000 merchants in Brazil across over 3,300 cities and towns, reaching more than 4.6 million consumers. Luis Silva, CloudWalk Founder and CEO, shared more details about the company’s development by stating:
“Our cutting-edge payment network, built from the ground up on modern technology stacks and blockchain, focuses on disrupting the payment ecosystem for small-and-medium enterprise merchants and their customers. This commitment from a variety of investors, recognizes CloudWalk’s strong momentum since its inception, and will be used to accelerate the Company’s domestic presence in Brazil.”
CloudWalk is planning to use the Series B funds to continue the growth and development of its products.
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Source: https://www.crowdfundinsider.com/2021/05/175232-u-s-payment-technology-network-cloudwalk-raises-190-million-through-series-b-led-by-coatue/
